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

Global Payments (NYSE:GPN) had its target price reduced by B. Riley from $204.00 to $194.00 in a research report released on Wednesday morning, Marketbeat reports. They currently have 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 research firms also recently issued reports on GPN. Wells Fargo & Company assumed coverage on Global Payments in a research note on Wednesday, June 12th. They issued an equal weight rating and a $100.00 price target for the company. Keefe, Bruyette & Woods reduced their target price on shares of Global Payments from $150.00 to $140.00 and set an outperform rating for the company in a research report on Monday, July 8th. BMO Capital Markets raised their price target on shares of Global Payments from $124.00 to $126.00 and gave the stock a market perform rating in a research report on Thursday, August 8th. StockNews.com upgraded shares of Global Payments from a hold rating to a buy rating in a research note on Wednesday, September 18th. Finally, Evercore ISI decreased their target price on shares of Global Payments from $170.00 to $160.00 and set an outperform rating on the stock in a research report on Tuesday, June 25th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $141.36.

Global Payments Stock Performance

NYSE GPN opened at $101.02 on Wednesday. The stock has a market cap of $25.79 billion, a PE ratio of 20.04, a P/E/G ratio of 0.71 and a beta of 0.98. 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 firm has a 50-day moving average of $105.56 and a 200-day moving average of $109.52. Global Payments has a 52-week low of $91.60 and a 52-week high of $141.77.

Global Payments (NYSE:GPN) last released its quarterly earnings results on Wednesday, August 7th. The business services provider reported $2.93 earnings per share for the quarter, beating 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 firm had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.32 billion. During the same period in the prior year, the firm earned $2.48 EPS. The business’s revenue was up 4.7% on a year-over-year basis. On average, sell-side analysts anticipate that Global Payments will post 11.07 EPS for the current year.

Global Payments Dividend Announcement

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

Insiders Place Their Bets

In other news, CAO David M. Sheffield sold 1,651 shares of the stock in a transaction on 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 transaction, the chief accounting officer now directly owns 20,531 shares in the company, valued at approximately $2,068,087.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.98% of the company’s stock.

Hedge Funds Weigh In On Global Payments

Institutional investors and hedge funds have recently bought and sold shares of the company. New Covenant Trust Company N.A. acquired a new stake in shares of Global Payments during the first quarter valued at about $31,000. LRI Investments LLC bought a new position in Global Payments in the 1st quarter valued at approximately $32,000. POM Investment Strategies LLC acquired a new stake in Global Payments during the 2nd quarter worth approximately $32,000. West Paces Advisors Inc. grew its holdings in Global Payments by 54.5% during the 1st quarter. West Paces Advisors Inc. now owns 309 shares of the business services provider’s stock worth $41,000 after acquiring an additional 109 shares during the last quarter. Finally, North Star Investment Management Corp. increased its position in Global Payments by 154.7% in the 1st quarter. North Star Investment Management Corp. now owns 354 shares of the business services provider’s stock valued at $47,000 after acquiring an additional 215 shares during the period. Institutional investors and hedge funds 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.