Morgan Stanley Cuts Global Payments (NYSE:GPN) Price Target to $123.00

Global Payments (NYSE:GPNGet Rating) had its price target trimmed by Morgan Stanley from $156.00 to $123.00 in a research note released on Tuesday, Stock Target Advisor reports. They currently have an equal weight rating on the business services provider’s stock.

Several other research firms have also recently issued reports on GPN. Wells Fargo & Company initiated coverage on shares of Global Payments in a research note on Monday, April 4th. They set an overweight rating and a $194.00 target price on the stock. The Goldman Sachs Group initiated coverage on shares of Global Payments in a research note on Tuesday, May 17th. They set a neutral rating and a $151.00 target price on the stock. Stephens initiated coverage on shares of Global Payments in a research note on Wednesday, April 6th. They set an overweight rating and a $170.00 target price on the stock. StockNews.com initiated coverage on shares of Global Payments in a research note on Thursday, March 31st. They set a hold rating on the stock. Finally, KeyCorp lowered their target price on shares of Global Payments from $175.00 to $165.00 and set an overweight rating on the stock in a research note on Monday, March 28th. Five analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $185.30.

Shares of Global Payments stock opened at $112.90 on Tuesday. The stock has a market cap of $31.79 billion, a price-to-earnings ratio of 32.35, a PEG ratio of 0.71 and a beta of 0.99. The firm’s 50-day moving average is $125.44 and its 200 day moving average is $133.47. Global Payments has a 1 year low of $105.52 and a 1 year high of $196.88. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.06 and a quick ratio of 1.06.

Global Payments (NYSE:GPNGet Rating) last announced its quarterly earnings results on Monday, May 2nd. The business services provider reported $1.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.92 by $0.05. The company had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $1.95 billion. Global Payments had a net margin of 11.66% and a return on equity of 8.79%. Global Payments’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.72 EPS. On average, equities analysts expect that Global Payments will post 9.09 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 24th. Shareholders of record on Friday, June 10th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend is Thursday, June 9th. Global Payments’s dividend payout ratio (DPR) is currently 28.65%.

In other Global Payments news, EVP David Lawrence Green sold 16,252 shares of the stock in a transaction that occurred on Friday, June 3rd. The shares were sold at an average price of $130.10, for a total transaction of $2,114,385.20. Following the completion of the sale, the executive vice president now directly owns 97,818 shares of the company’s stock, valued at approximately $12,726,121.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.19% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Penserra Capital Management LLC boosted its position in shares of Global Payments by 6.4% during the 1st quarter. Penserra Capital Management LLC now owns 1,389 shares of the business services provider’s stock valued at $190,000 after acquiring an additional 83 shares during the last quarter. Sugarloaf Wealth Management LLC boosted its position in shares of Global Payments by 8.1% during the 1st quarter. Sugarloaf Wealth Management LLC now owns 1,315 shares of the business services provider’s stock valued at $180,000 after acquiring an additional 98 shares during the last quarter. Parkside Financial Bank & Trust boosted its position in shares of Global Payments by 34.6% during the 4th quarter. Parkside Financial Bank & Trust now owns 385 shares of the business services provider’s stock valued at $52,000 after acquiring an additional 99 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in shares of Global Payments by 30.4% during the 4th quarter. Geneos Wealth Management Inc. now owns 437 shares of the business services provider’s stock valued at $59,000 after acquiring an additional 102 shares during the last quarter. Finally, Panagora Asset Management Inc. boosted its position in shares of Global Payments by 1.0% during the 4th quarter. Panagora Asset Management Inc. now owns 10,644 shares of the business services provider’s stock valued at $1,439,000 after acquiring an additional 103 shares during the last quarter. 84.53% of the stock is owned by institutional investors and hedge funds.

Global Payments Company Profile (Get Rating)

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

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