The Goldman Sachs Group Issues Positive Forecast for Global Payments (NYSE:GPN) Stock Price

Global Payments (NYSE:GPN) had its price target raised by The Goldman Sachs Group from $135.00 to $155.00 in a research report report published on Monday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the business services provider’s stock.

A number of other equities research analysts have also recently commented on the stock. Sanford C. Bernstein cut shares of Global Payments from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $135.00 to $112.00 in a research note on Tuesday, October 22nd. BMO Capital Markets decreased their price objective on shares of Global Payments from $126.00 to $122.00 and set a “market perform” rating on the stock in a research report on Wednesday, September 25th. Royal Bank of Canada dropped their target price on shares of Global Payments from $143.00 to $130.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. BTIG Research cut Global Payments from a “buy” rating to a “neutral” rating in a report on Wednesday, September 25th. Finally, TD Cowen dropped their price objective on Global Payments from $125.00 to $122.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $137.41.

Global Payments Stock Performance

Shares of GPN opened at $118.13 on Monday. The business has a 50-day simple moving average of $106.57 and a two-hundred day simple moving average of $103.76. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.65. Global Payments has a 52 week low of $91.60 and a 52 week high of $141.77. The stock has a market cap of $30.06 billion, a price-to-earnings ratio of 22.25, a PEG ratio of 0.91 and a beta of 0.97.

Global Payments Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given a $0.25 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.00 annualized dividend and a yield of 0.85%. Global Payments’s dividend payout ratio is presently 18.83%.

Institutional Trading of Global Payments

A number of hedge funds have recently added to or reduced their stakes in GPN. Tidal Investments LLC raised its position in shares of Global Payments by 0.3% in the third quarter. Tidal Investments LLC now owns 26,946 shares of the business services provider’s stock worth $2,760,000 after acquiring an additional 86 shares during the period. SYM FINANCIAL Corp raised its holdings in Global Payments by 4.1% in the 3rd quarter. SYM FINANCIAL Corp now owns 2,440 shares of the business services provider’s stock worth $250,000 after purchasing an additional 97 shares during the period. Allen Mooney & Barnes Investment Advisors LLC raised its holdings in Global Payments by 1.2% in the 3rd quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 8,210 shares of the business services provider’s stock worth $841,000 after purchasing an additional 98 shares during the period. Deseret Mutual Benefit Administrators grew its holdings in Global Payments by 27.2% in the third quarter. Deseret Mutual Benefit Administrators now owns 543 shares of the business services provider’s stock valued at $56,000 after purchasing an additional 116 shares during the period. Finally, Metis Global Partners LLC grew its holdings in Global Payments by 1.4% in the third quarter. Metis Global Partners LLC now owns 8,257 shares of the business services provider’s stock valued at $846,000 after purchasing an additional 116 shares during the period. 89.76% of the stock is owned by hedge funds and other institutional investors.

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.