Global Payments (NYSE:GPN) Given New $194.00 Price Target at B. Riley

Global Payments (NYSE:GPN) had its target price trimmed by B. Riley from $204.00 to $194.00 in a research report released on Wednesday, MarketBeat reports. The brokerage 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.

GPN has been the subject of several other reports. Evercore ISI reduced their price objective on Global Payments from $170.00 to $160.00 and set an outperform rating for the company in a report on Tuesday, June 25th. Stephens reaffirmed an overweight rating and set a $130.00 price target on shares of Global Payments in a research note on Wednesday, September 18th. TD Cowen decreased their price objective on shares of Global Payments from $125.00 to $122.00 and set a buy rating on the stock in a research report on Wednesday. KeyCorp dropped their target price on shares of Global Payments from $145.00 to $135.00 and set an overweight rating for the company in a report on Wednesday. Finally, Royal Bank of Canada reduced their price target on shares of Global Payments from $172.00 to $158.00 and set an outperform rating on the stock in a report on Thursday, August 8th. One 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 currently has an average rating of Moderate Buy and a consensus price target of $141.36.

Global Payments Price Performance

Global Payments stock opened at $101.02 on Wednesday. The company has a market cap of $25.79 billion, a P/E ratio of 20.04, a price-to-earnings-growth ratio of 0.71 and a beta of 0.98. Global Payments has a one year low of $91.60 and a one year high of $141.77. The business has a fifty day moving average of $105.57 and a two-hundred day moving average of $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.

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

Global Payments Dividend Announcement

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

Insider Buying and Selling

In related news, CAO David M. Sheffield sold 1,651 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $100.73, for a total transaction 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 filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.98% of the company’s stock.

Institutional Trading of Global Payments

Hedge funds have recently made changes to their positions in the company. Sanctuary Advisors LLC acquired a new position in shares of Global Payments in the second quarter worth about $900,000. Brown Financial Advisors purchased a new position in shares of Global Payments during the 2nd quarter valued at approximately $1,128,000. Heritage Oak Wealth Advisors LLC acquired a new stake in shares of Global Payments during the second quarter worth approximately $333,000. Delphi Management Inc. MA increased its stake in shares of Global Payments by 5.6% in the second quarter. Delphi Management Inc. MA now owns 13,682 shares of the business services provider’s stock worth $1,323,000 after buying an additional 730 shares during the last quarter. Finally, Aurora Investment Counsel raised its holdings in Global Payments by 5.9% in the second quarter. Aurora Investment Counsel now owns 11,300 shares of the business services provider’s stock valued at $1,093,000 after acquiring an additional 625 shares in the last quarter. 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.