Global Payments (NYSE:GPN) Price Target Cut to $105.00 by Analysts at Mizuho

Global Payments (NYSE:GPN - Free Report) had its price objective lowered by Mizuho from $129.00 to $105.00 in a research report report published on Wednesday morning, Benzinga reports. The brokerage currently has a neutral rating on the business services provider's stock.

GPN has been the topic of a number of other research reports. StockNews.com raised Global Payments from a hold rating to a buy rating in a research report on Monday. Royal Bank of Canada boosted their price objective on shares of Global Payments from $154.00 to $172.00 and gave the stock an outperform rating in a research note on Thursday, February 15th. Evercore ISI reduced their price target on Global Payments from $185.00 to $180.00 and set an outperform rating on the stock in a research report on Thursday, February 15th. JPMorgan Chase & Co. raised their price objective on Global Payments from $145.00 to $159.00 and gave the stock a neutral rating in a research report on Thursday, February 15th. Finally, Susquehanna dropped their price target on Global Payments from $160.00 to $157.00 and set a positive rating on the stock in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty-two have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $149.11.

Global Payments Trading Down 1.3 %

NYSE:GPN traded down $1.38 during mid-day trading on Wednesday, hitting $108.81. 3,456,514 shares of the stock traded hands, compared to its average volume of 2,278,254. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.68. Global Payments has a 52 week low of $95.12 and a 52 week high of $141.77. The stock has a market capitalization of $27.77 billion, a price-to-earnings ratio of 21.53, a PEG ratio of 0.70 and a beta of 0.97. The firm's 50 day moving average is $124.69 and its two-hundred day moving average is $124.94.

Global Payments (NYSE:GPN - Get Free Report) last released its earnings results on Wednesday, February 14th. The business services provider reported $2.65 earnings per share for the quarter, topping analysts' consensus estimates of $2.64 by $0.01. The business had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.18 billion. Global Payments had a return on equity of 11.72% and a net margin of 13.40%. The business's revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the firm posted $2.30 earnings per share. On average, equities research analysts predict that Global Payments will post 11.07 earnings per share for the current year.

Global Payments Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, June 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.92%. Global Payments's payout ratio is currently 19.84%.

Insider Activity at Global Payments

In other news, VP Andrea M. Carter sold 3,300 shares of the firm's stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $111.34, for a total transaction of $367,422.00. Following the sale, the vice president now owns 25,209 shares of the company's stock, valued at approximately $2,806,770.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.98% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Global Payments

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Estuary Capital Management LP lifted its stake in Global Payments by 116.9% in the first quarter. Estuary Capital Management LP now owns 155,312 shares of the business services provider's stock valued at $20,759,000 after buying an additional 83,700 shares during the last quarter. LRI Investments LLC acquired a new position in shares of Global Payments in the 1st quarter valued at $32,000. Truvestments Capital LLC raised its position in Global Payments by 20.1% in the 1st quarter. Truvestments Capital LLC now owns 3,684 shares of the business services provider's stock valued at $492,000 after purchasing an additional 617 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in Global Payments during the 1st quarter worth $1,240,000. Finally, Cloverfields Capital Group LP grew its position in Global Payments by 4.4% during the 1st quarter. Cloverfields Capital Group LP now owns 30,150 shares of the business services provider's stock worth $4,030,000 after purchasing an additional 1,282 shares during the last quarter. 89.76% of the stock is currently 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.