Global Payments (NYSE:GPN) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Global Payments (NYSE:GPN - Free Report) had its price objective boosted by Keefe, Bruyette & Woods from $81.00 to $85.00 in a report published on Wednesday,Benzinga reports. The brokerage currently has a market perform rating on the business services provider's stock.

Several other equities analysts also recently weighed in on the company. KeyCorp lifted their target price on Global Payments from $80.00 to $90.00 and gave the company an "overweight" rating in a research report on Wednesday, May 7th. Wall Street Zen upgraded Global Payments from a "hold" rating to a "buy" rating in a research report on Thursday, May 15th. Truist Financial began coverage on Global Payments in a research report on Monday, June 2nd. They set a "hold" rating and a $79.00 target price on the stock. Evercore ISI began coverage on Global Payments in a research report on Wednesday, April 9th. They set an "in-line" rating and a $85.00 target price on the stock. Finally, Cowen downgraded Global Payments from a "buy" rating to a "hold" rating in a research report on Monday, April 21st. One analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $111.09.

Global Payments Stock Down 2.9%

Shares of NYSE:GPN traded down $2.35 during trading on Wednesday, hitting $78.88. The stock had a trading volume of 2,334,705 shares, compared to its average volume of 2,506,638. Global Payments has a 12 month low of $65.93 and a 12 month high of $120.00. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $19.24 billion, a PE ratio of 12.72, a PEG ratio of 0.78 and a beta of 0.94. The firm's fifty day moving average is $78.53 and its 200 day moving average is $91.74.

Global Payments (NYSE:GPN - Get Free Report) last posted its earnings results on Tuesday, May 6th. The business services provider reported $2.82 EPS for the quarter, topping analysts' consensus estimates of $2.73 by $0.09. The business had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.20 billion. Global Payments had a return on equity of 12.33% and a net margin of 15.48%. The company's quarterly revenue was down .3% compared to the same quarter last year. During the same quarter last year, the company earned $2.59 EPS. Analysts anticipate that Global Payments will post 11.89 EPS for the current fiscal year.

Global Payments Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.00 dividend on an annualized basis and a yield of 1.27%. Global Payments's dividend payout ratio is presently 16.13%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC lifted its position in shares of Global Payments by 45.2% in the second quarter. Farther Finance Advisors LLC now owns 967 shares of the business services provider's stock valued at $77,000 after buying an additional 301 shares during the last quarter. CX Institutional increased its stake in shares of Global Payments by 230.9% in the 2nd quarter. CX Institutional now owns 2,584 shares of the business services provider's stock valued at $207,000 after purchasing an additional 1,803 shares during the last quarter. IFM Investors Pty Ltd increased its stake in shares of Global Payments by 9.9% in the 2nd quarter. IFM Investors Pty Ltd now owns 51,756 shares of the business services provider's stock valued at $4,143,000 after purchasing an additional 4,679 shares during the last quarter. Moody National Bank Trust Division grew its position in Global Payments by 28.5% during the 2nd quarter. Moody National Bank Trust Division now owns 2,720 shares of the business services provider's stock worth $218,000 after acquiring an additional 604 shares during the last quarter. Finally, Swedbank AB grew its position in Global Payments by 21.9% during the 2nd quarter. Swedbank AB now owns 51,023 shares of the business services provider's stock worth $4,084,000 after acquiring an additional 9,164 shares during the last quarter. 89.76% of the stock is owned by institutional investors and hedge funds.

Global Payments Company Profile

Global Payments Inc provides payment technology and software solutions for card, check, and digital-based payments in the Americas, Europe, and the Asia-Pacific. It operates through two segments, Merchant Solutions and Issuer Solutions. The Merchant Solutions segment offers authorization, settlement and funding, customer support, chargeback resolution, terminal rental, sales and deployment, payment security, and consolidated billing and reporting services.