Global Payments (NYSE:GPN) Price Target Lowered to $194.00 at B. Riley

Global Payments (NYSE:GPN) had its target price decreased by B. Riley from $204.00 to $194.00 in a research note published on Wednesday, Marketbeat.com reports. B. Riley currently has a buy rating on the business services provider’s stock. B. Riley also issued estimates for Global Payments’ FY2025 earnings at $12.20 EPS.

Several other equities analysts also recently issued reports on GPN. TD Cowen reduced their price target on shares of Global Payments from $125.00 to $122.00 and set a buy rating for the company in a report on Wednesday. BMO Capital Markets boosted their target price on shares of Global Payments from $124.00 to $126.00 and gave the company a market perform rating in a research note on Thursday, August 8th. KeyCorp dropped their price target on shares of Global Payments from $145.00 to $135.00 and set an overweight rating on the stock in a research note on Wednesday. StockNews.com raised Global Payments from a hold rating to a buy rating in a research note on Wednesday, September 18th. Finally, BTIG Research lowered shares of Global Payments from a buy rating to a neutral rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, Global Payments has an average rating of Moderate Buy and an average target price of $141.36.

Global Payments Stock Up 3.4 %

Shares of NYSE:GPN opened at $101.02 on Wednesday. Global Payments has a 1-year low of $91.60 and a 1-year high of $141.77. The company’s fifty day moving average is $105.57 and its two-hundred day moving average is $109.32. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a market capitalization of $25.79 billion, a price-to-earnings ratio of 20.04, a price-to-earnings-growth ratio of 0.71 and a beta of 0.98.

Global Payments (NYSE:GPN) last issued its earnings results on Wednesday, August 7th. The business services provider reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.90 by $0.03. The company had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.32 billion. Global Payments had a return on equity of 11.93% and a net margin of 14.26%. Global Payments’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.48 earnings per share. Equities analysts anticipate that Global Payments will post 11.07 EPS for the current year.

Global Payments Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a $0.25 dividend. The ex-dividend date was Friday, September 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.99%. Global Payments’s payout ratio is currently 19.84%.

Insider Activity

In related news, CAO David M. Sheffield sold 1,651 shares of the stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $100.73, for a total value of $166,305.23. Following the completion of the sale, the chief accounting officer now directly owns 20,531 shares of the company’s stock, valued at approximately $2,068,087.63. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.98% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Global Payments

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GPN. Pzena Investment Management LLC grew its holdings in shares of Global Payments by 194.2% during the 2nd quarter. Pzena Investment Management LLC now owns 6,423,463 shares of the business services provider’s stock valued at $621,149,000 after acquiring an additional 4,240,388 shares in the last quarter. AQR Capital Management LLC increased its position in Global Payments by 188.1% in the 2nd quarter. AQR Capital Management LLC now owns 1,157,728 shares of the business services provider’s stock worth $109,857,000 after purchasing an additional 755,898 shares during the last quarter. Kodai Capital Management LP acquired a new position in Global Payments in the 4th quarter worth about $69,029,000. Natixis raised its stake in shares of Global Payments by 830.2% during the 1st quarter. Natixis now owns 589,520 shares of the business services provider’s stock worth $78,795,000 after purchasing an additional 526,143 shares in the last quarter. Finally, Lord Abbett & CO. LLC lifted its holdings in shares of Global Payments by 267.0% during the 1st quarter. Lord Abbett & CO. LLC now owns 677,854 shares of the business services provider’s stock valued at $90,602,000 after buying an additional 493,164 shares during the last quarter. Hedge funds and other institutional investors own 89.76% of the company’s stock.

About Global Payments

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.