Global Payments (NYSE:GPN) Lowered to “Underweight” at Redburn Atlantic

Redburn Atlantic lowered shares of Global Payments (NYSE:GPN) from a neutral rating to an underweight rating in a research report report published on Monday morning, MarketBeat reports. Redburn Atlantic currently has $105.00 price objective on the business services provider’s stock.

GPN has been the subject of a number of other research reports. Jefferies Financial Group upgraded Global Payments from a hold rating to a buy rating and raised their target price for the stock from $125.00 to $145.00 in a research note on Thursday, August 10th. BMO Capital Markets lifted their price objective on Global Payments from $208.00 to $211.00 and gave the company an outperform rating in a research note on Wednesday, August 2nd. Barclays lifted their price objective on Global Payments from $135.00 to $150.00 and gave the company an overweight rating in a research note on Friday, August 4th. JPMorgan Chase & Co. lifted their price objective on Global Payments from $126.00 to $143.00 and gave the company a neutral rating in a research note on Tuesday, August 22nd. Finally, Truist Financial lifted their price objective on Global Payments from $145.00 to $160.00 and gave the company a buy rating in a research note on Tuesday, August 22nd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $147.23.

Global Payments Stock Down 0.8 %

Shares of NYSE GPN opened at $123.30 on Monday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $32.06 billion, a PE ratio of 41.10, a price-to-earnings-growth ratio of 0.87 and a beta of 0.97. Global Payments has a 12-month low of $92.27 and a 12-month high of $130.04. The stock’s fifty day simple moving average is $120.29 and its two-hundred day simple moving average is $109.01.

Global Payments (NYSE:GPN) last issued its earnings results on Tuesday, August 1st. The business services provider reported $2.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.43 by $0.19. The company had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.19 billion. Global Payments had a return on equity of 10.98% and a net margin of 8.65%. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter last year, the business posted $2.23 EPS. As a group, analysts expect that Global Payments will post 9.68 EPS for the current fiscal year.

Global Payments Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.81%. The ex-dividend date is Thursday, September 14th. Global Payments’s dividend payout ratio is currently 33.33%.

Insider Transactions at Global Payments

In other news, CAO David M. Sheffield sold 2,016 shares of Global Payments stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $119.47, for a total transaction of $240,851.52. Following the sale, the chief accounting officer now owns 25,045 shares of the company’s stock, valued at approximately $2,992,126.15. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CAO David M. Sheffield sold 2,016 shares of Global Payments stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $119.47, for a total transaction of $240,851.52. Following the sale, the chief accounting officer now owns 25,045 shares of the company’s stock, valued at approximately $2,992,126.15. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Joshua J. Whipple sold 37,096 shares of Global Payments stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $127.28, for a total transaction of $4,721,578.88. Following the sale, the chief financial officer now directly owns 39,772 shares in the company, valued at approximately $5,062,180.16. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Institutional Trading of Global Payments

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Glassman Wealth Services raised its position in Global Payments by 94.3% in the first quarter. Glassman Wealth Services now owns 239 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 116 shares during the period. Clear Street Markets LLC purchased a new stake in Global Payments in the fourth quarter valued at approximately $27,000. Venturi Wealth Management LLC purchased a new stake in Global Payments in the first quarter valued at approximately $29,000. MV Capital Management Inc. increased its position in shares of Global Payments by 166.7% during the first quarter. MV Capital Management Inc. now owns 296 shares of the business services provider’s stock worth $31,000 after acquiring an additional 185 shares during the period. Finally, Vigilant Capital Management LLC purchased a new stake in shares of Global Payments during the first quarter worth $34,000. Hedge funds and other institutional investors own 85.23% 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 three segments: Merchant Solutions, Issuer Solutions, and Consumer 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.