The Goldman Sachs Group Reiterates Neutral Rating for Global Payments (NYSE:GPN)

Global Payments (NYSE:GPN)‘s stock had its “neutral” rating reaffirmed by equities research analysts at The Goldman Sachs Group in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $122.00 price target on the business services provider’s stock, down from their prior price target of $155.00. The Goldman Sachs Group’s target price would suggest a potential upside of 9.53% from the stock’s current price.

Other analysts also recently issued reports about the company. TD Cowen reduced their target price 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. Jefferies Financial Group reduced their price objective on Global Payments from $130.00 to $120.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. Royal Bank of Canada lowered their target price on Global Payments from $143.00 to $130.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Barclays lifted their price target on shares of Global Payments from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Finally, BMO Capital Markets decreased their target price on shares of Global Payments from $126.00 to $122.00 and set a “market perform” rating for the company in a research report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, Global Payments has an average rating of “Moderate Buy” and a consensus target price of $137.05.

Global Payments Trading Down 0.8 %

Shares of NYSE GPN traded down $0.90 during midday trading on Thursday, reaching $111.38. The stock had a trading volume of 1,490,516 shares, compared to its average volume of 1,092,423. Global Payments has a twelve month low of $91.60 and a twelve month high of $141.77. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.93 and a current ratio of 0.93. The company’s 50 day moving average price is $114.01 and its 200 day moving average price is $106.54. The firm has a market cap of $28.35 billion, a price-to-earnings ratio of 20.98, a price-to-earnings-growth ratio of 0.88 and a beta of 1.00.

Insider Buying and Selling at Global Payments

In other Global Payments news, Director Robert H. B. Baldwin, Jr. bought 5,800 shares of Global Payments stock in a transaction on Friday, December 13th. The stock was acquired at an average price of $116.00 per share, with a total value of $672,800.00. Following the acquisition, the director now owns 42,738 shares in the company, valued at approximately $4,957,608. This trade represents a 15.70 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.98% of the company’s stock.

Institutional Trading of Global Payments

Large investors have recently added to or reduced their stakes in the business. Cromwell Holdings LLC purchased a new position in shares of Global Payments during the 3rd quarter valued at about $25,000. Beaird Harris Wealth Management LLC bought a new position in shares of Global Payments in the third quarter worth approximately $25,000. Capital Performance Advisors LLP bought a new stake in shares of Global Payments during the 3rd quarter valued at $33,000. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Global Payments by 59.6% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 383 shares of the business services provider’s stock valued at $39,000 after buying an additional 143 shares in the last quarter. Finally, Quarry LP boosted its holdings in Global Payments by 134.4% in the 2nd quarter. Quarry LP now owns 511 shares of the business services provider’s stock worth $49,000 after buying an additional 293 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.