Global Payments (NYSE:GPN) PT Lowered to $122.00

Global Payments (NYSE:GPN) had its price target reduced by equities research analysts at BMO Capital Markets from $126.00 to $122.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “market perform” rating on the business services provider’s stock. BMO Capital Markets’ target price would suggest a potential upside of 24.91% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. BNP Paribas upgraded shares of Global Payments to a “strong sell” rating in a research report on Wednesday, September 4th. JPMorgan Chase & Co. increased their price objective on shares of Global Payments from $111.00 to $118.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Royal Bank of Canada reduced their target price on Global Payments from $172.00 to $158.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. BTIG Research lowered Global Payments from a “buy” rating to a “neutral” rating in a research note on Wednesday. Finally, Wells Fargo & Company began coverage on Global Payments in a research note on Wednesday, June 12th. They issued an “equal weight” rating and a $100.00 price objective on the stock. One research analyst has rated the stock with a sell rating, nine have given a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $141.36.

Global Payments Trading Up 0.6 %

Shares of Global Payments stock opened at $97.67 on Wednesday. Global Payments has a fifty-two week low of $91.60 and a fifty-two week high of $141.77. 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 company has a market capitalization of $24.93 billion, a P/E ratio of 19.38, a P/E/G ratio of 0.71 and a beta of 0.98. The company has a fifty day moving average of $105.63 and a 200 day moving average of $109.61.

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

Insider Transactions at Global Payments

In related news, CAO David M. Sheffield sold 1,651 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $100.73, for a total transaction of $166,305.23. Following the completion of the transaction, the chief accounting officer now owns 20,531 shares in the company, valued at approximately $2,068,087.63. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.98% of the company’s stock.

Institutional Trading of Global Payments

Several institutional investors and hedge funds have recently made changes to their positions in GPN. New Covenant Trust Company N.A. purchased a new position in Global Payments in the 1st quarter worth about $31,000. LRI Investments LLC bought a new position in Global Payments in the 1st quarter worth about $32,000. POM Investment Strategies LLC purchased a new position in shares of Global Payments during the second quarter worth approximately $32,000. West Paces Advisors Inc. raised its stake in shares of Global Payments by 54.5% during the first quarter. West Paces Advisors Inc. now owns 309 shares of the business services provider’s stock valued at $41,000 after acquiring an additional 109 shares in the last quarter. Finally, North Star Investment Management Corp. boosted its holdings in shares of Global Payments by 154.7% in the first quarter. North Star Investment Management Corp. now owns 354 shares of the business services provider’s stock valued at $47,000 after purchasing an additional 215 shares during the period. 89.76% of the stock is currently owned by 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.