Global Payments (NYSE:GPN) Downgraded by StockNews.com to “Hold”

StockNews.com lowered shares of Global Payments (NYSE:GPN) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning.

Several other research firms also recently weighed in on GPN. JPMorgan Chase & Co. decreased their price target on shares of Global Payments from $118.00 to $115.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 29th. TD Cowen decreased their price target on shares of Global Payments from $125.00 to $122.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Morgan Stanley dropped their price objective on Global Payments from $164.00 to $156.00 and set an “overweight” rating on the stock in a report on Wednesday, September 25th. Susquehanna reissued a “positive” rating and issued a $147.00 price objective on shares of Global Payments in a research note on Tuesday, September 17th. Finally, Monness Crespi & Hardt lowered their target price on shares of Global Payments from $165.00 to $155.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $136.57.

Global Payments Stock Up 0.6 %

NYSE:GPN opened at $117.08 on Wednesday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65. Global Payments has a twelve month low of $91.60 and a twelve month high of $141.77. The company has a market cap of $29.80 billion, a PE ratio of 22.05, a P/E/G ratio of 0.89 and a beta of 0.97. The company’s 50 day moving average is $105.86 and its two-hundred day moving average is $103.50.

Global Payments Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.85%. The ex-dividend date is Friday, December 13th. Global Payments’s dividend payout ratio is currently 18.83%.

Institutional Trading of Global Payments

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. New Covenant Trust Company N.A. purchased a new position in Global Payments in the first quarter valued at about $31,000. LRI Investments LLC bought a new position in shares of Global Payments in the 1st quarter worth about $32,000. Cromwell Holdings LLC acquired a new stake in shares of Global Payments in the third quarter valued at approximately $25,000. Capital Performance Advisors LLP bought a new stake in Global Payments during the third quarter worth approximately $33,000. Finally, POM Investment Strategies LLC acquired a new stake in shares of Global Payments during the 2nd quarter valued at $32,000. Hedge funds and other institutional investors own 89.76% of the company’s stock.

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.