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

Global Payments (NYSE:GPN) had its price objective decreased by TD Cowen from $125.00 to $122.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the business services provider’s stock. TD Cowen’s target price points to a potential upside of 24.91% from the company’s previous close.

A number of other research analysts have also commented on the stock. Susquehanna restated a “positive” rating and set a $147.00 price target on shares of Global Payments in a research report on Tuesday, September 17th. Keefe, Bruyette & Woods reduced their target price on Global Payments from $150.00 to $140.00 and set an “outperform” rating for the company in a research report on Monday, July 8th. 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 target price on the stock. Stephens reiterated an “overweight” rating and set a $130.00 price target on shares of Global Payments in a research report on Wednesday, September 18th. Finally, BNP Paribas upgraded shares of Global Payments to a “strong sell” rating in a research report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, nine have assigned 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 price target of $141.36.

Global Payments Stock Performance

NYSE:GPN opened at $97.67 on Wednesday. The business’s fifty day moving average is $105.63 and its 200 day moving average is $109.61. The firm has a market cap of $24.93 billion, a price-to-earnings ratio of 19.38, a PEG 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. Global Payments has a 52-week low of $91.60 and a 52-week high of $141.77.

Global Payments (NYSE:GPN) last announced 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 return on equity of 11.93% and a net margin of 14.26%. 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 business posted $2.48 earnings per share. The company’s revenue was up 4.7% on a year-over-year basis. Research analysts predict that Global Payments will post 11.07 EPS for the current year.

Insiders Place Their Bets

In other news, CAO David M. Sheffield sold 1,651 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $100.73, for a total value of $166,305.23. Following the transaction, the chief accounting officer now owns 20,531 shares in the company, valued at $2,068,087.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.98% of the company’s stock.

Hedge Funds Weigh In On Global Payments

Several hedge funds and other institutional investors have recently modified their holdings of GPN. New Covenant Trust Company N.A. purchased a new position in Global Payments during the 1st quarter valued at about $31,000. LRI Investments LLC bought a new stake in shares of Global Payments in the 1st quarter worth approximately $32,000. West Paces Advisors Inc. increased 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 buying an additional 109 shares during the period. POM Investment Strategies LLC bought a new position in shares of Global Payments during the second quarter valued at approximately $32,000. Finally, North Star Investment Management Corp. lifted its stake in 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 worth $47,000 after acquiring an additional 215 shares during the period. 89.76% of the stock is owned by 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.