Monness Crespi & Hardt Lowers Global Payments (NYSE:GPN) Price Target to $155.00

Global Payments (NYSE:GPN) had its target price cut by Monness Crespi & Hardt from $165.00 to $155.00 in a research note issued to investors on Wednesday, Marketbeat.com reports. The firm presently has a “buy” rating on the business services provider’s stock. Monness Crespi & Hardt’s target price would indicate a potential upside of 58.70% from the company’s previous close.

Several other equities analysts have also commented on the company. B. Riley lowered their price objective on Global Payments from $204.00 to $194.00 and set a “buy” rating for the company in a research report on Wednesday. Keefe, Bruyette & Woods dropped their price objective on shares of Global Payments from $150.00 to $140.00 and set an “outperform” rating on the stock in a research note on Monday, July 8th. Wells Fargo & Company assumed coverage on shares of Global Payments in a research note on Wednesday, June 12th. They set an “equal weight” rating and a $100.00 target price for the company. Evercore ISI dropped their price target on Global Payments from $170.00 to $160.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. Finally, BTIG Research lowered Global Payments from a “buy” rating to a “neutral” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $141.36.

Global Payments Price Performance

Shares of Global Payments stock opened at $97.67 on Wednesday. The company’s fifty day simple moving average is $105.63 and its two-hundred day simple moving average is $109.61. Global Payments has a 12-month low of $91.60 and a 12-month high of $141.77. The firm has a market cap of $24.93 billion, a PE ratio of 19.38, a price-to-earnings-growth ratio of 0.71 and a beta of 0.98. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.68.

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

Insider Transactions at Global Payments

In other Global Payments news, CAO David M. Sheffield sold 1,651 shares of Global Payments stock in a transaction dated 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 in the company, valued at $2,068,087.63. The sale 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.

Hedge Funds Weigh In On Global Payments

Several institutional investors have recently modified their holdings of the business. New Covenant Trust Company N.A. acquired a new stake in Global Payments in the 1st quarter valued at about $31,000. LRI Investments LLC acquired a new stake in Global Payments in the first quarter valued at approximately $32,000. West Paces Advisors Inc. lifted its stake in Global Payments by 54.5% in the first 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. POM Investment Strategies LLC acquired a new position in Global Payments during the 2nd quarter worth approximately $32,000. Finally, North Star Investment Management Corp. increased its position in shares of 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 purchasing an additional 215 shares during the last quarter. Institutional investors and hedge funds 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.