Robert W. Baird Cuts Global Payments (NYSE:GPN) Price Target to $150.00

Global Payments (NYSE:GPN) had its price objective decreased by Robert W. Baird from $182.00 to $150.00 in a research note published on Thursday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the business services provider’s stock.

GPN has been the subject of several other research reports. Susquehanna lifted their price target on Global Payments from $150.00 to $160.00 and gave the stock a positive rating in a research report on Thursday, February 15th. JPMorgan Chase & Co. boosted their target price on Global Payments from $145.00 to $159.00 and gave the stock a neutral rating in a research report on Thursday, February 15th. B. Riley boosted their target price on Global Payments from $180.00 to $186.00 and gave the stock a buy rating in a research report on Monday, February 5th. Evercore ISI decreased their target price on Global Payments from $185.00 to $180.00 and set an outperform rating for the company in a research report on Thursday, February 15th. Finally, Wedbush boosted their target price on Global Payments from $130.00 to $160.00 and gave the stock an outperform rating in a research report on Wednesday, January 10th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $150.00.

Global Payments Stock Up 0.8 %

Global Payments stock traded up $0.83 on Thursday, hitting $111.37. 3,191,218 shares of the stock traded hands, compared to its average volume of 2,029,470. The business’s fifty day simple moving average is $127.50 and its 200 day simple moving average is $124.69. The company has a current ratio of 0.92, a quick ratio of 0.99 and a debt-to-equity ratio of 0.68. The firm has a market cap of $28.43 billion, a P/E ratio of 22.10, a price-to-earnings-growth ratio of 0.72 and a beta of 0.97. Global Payments has a 1 year low of $95.12 and a 1 year high of $141.77.

Global Payments (NYSE:GPN) last posted its quarterly earnings results on Wednesday, February 14th. The business services provider reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $0.01. The firm had revenue of $2.43 billion during 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%. Global Payments’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.30 EPS. As a group, sell-side analysts forecast that Global Payments will post 10.95 earnings per share for the current year.

Global Payments Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a $0.25 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.00 dividend on an annualized basis and a yield of 0.90%. Global Payments’s dividend payout ratio is presently 19.84%.

Institutional Trading of Global Payments

Several hedge funds have recently modified their holdings of the company. FMR LLC raised its holdings in shares of Global Payments by 40.7% during the 3rd quarter. FMR LLC now owns 9,346,779 shares of the business services provider’s stock worth $1,078,525,000 after acquiring an additional 2,703,434 shares in the last quarter. Boston Partners raised its holdings in shares of Global Payments by 40.5% during the 3rd quarter. Boston Partners now owns 5,142,771 shares of the business services provider’s stock worth $591,613,000 after acquiring an additional 1,481,714 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Global Payments by 2.7% during the 4th quarter. Franklin Resources Inc. now owns 5,087,801 shares of the business services provider’s stock worth $646,151,000 after acquiring an additional 132,635 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Global Payments by 3.4% during the 3rd quarter. Victory Capital Management Inc. now owns 3,499,860 shares of the business services provider’s stock worth $403,849,000 after acquiring an additional 116,664 shares in the last quarter. Finally, Morgan Stanley raised its holdings in shares of Global Payments by 2.7% during the 3rd quarter. Morgan Stanley now owns 3,402,869 shares of the business services provider’s stock worth $392,657,000 after acquiring an additional 89,057 shares in the last quarter. 89.76% of the stock is owned by hedge funds and other institutional investors.

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.