Global Payments (NYSE:GPN) PT Lowered to $156.00

by · The Markets Daily

Global Payments (NYSE:GPN – Get Free Report) had its price target reduced by analysts at Morgan Stanley from $164.00 to $156.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the business services provider’s stock. Morgan Stanley’s price target indicates a potential upside of 59.72% from the stock’s current price.

A number of other research analysts have also commented on the company. B. Riley cut their price target on Global Payments from $204.00 to $194.00 and set a “buy” rating for the company in a report on Wednesday. BTIG Research lowered Global Payments from a “buy” rating to a “neutral” rating in a report on Wednesday. JPMorgan Chase & Co. upped their price target on Global Payments from $111.00 to $118.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Susquehanna restated a “positive” rating and set a $147.00 price objective on shares of Global Payments in a research report on Tuesday, September 17th. Finally, Monness Crespi & Hardt lowered their price objective on Global Payments from $165.00 to $155.00 and set a “buy” rating on the stock in a research report on Wednesday. One 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. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $141.36.

View Our Latest Stock Analysis on GPN

Global Payments Stock Up 0.6 %

GPN opened at $97.67 on Wednesday. The business has a 50 day moving average price of $105.63 and a 200 day moving average price of $109.61. 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 0.68, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a market cap of $24.93 billion, a P/E ratio of 19.38, a price-to-earnings-growth ratio of 0.71 and a beta of 0.98.

Global Payments (NYSE:GPN – Get Free Report) last issued 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 period in the previous year, the company earned $2.48 earnings per share. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. Research analysts forecast that Global Payments will post 11.07 EPS for the current year.

Insider Buying and Selling

In related news, CAO David M. Sheffield sold 1,651 shares of the 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 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 is available at the SEC website. 0.98% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Global Payments

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fidelis Capital Partners LLC increased its position in Global Payments by 5.1% in the 1st quarter. Fidelis Capital Partners LLC now owns 1,930 shares of the business services provider’s stock valued at $258,000 after acquiring an additional 93 shares in the last quarter. Oliver Luxxe Assets LLC increased its position in Global Payments by 0.3% in the 1st quarter. Oliver Luxxe Assets LLC now owns 34,435 shares of the business services provider’s stock valued at $4,603,000 after acquiring an additional 108 shares in the last quarter. West Paces Advisors Inc. increased its position in Global Payments by 54.5% in the 1st 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. KFG Wealth Management LLC increased its position in Global Payments by 6.4% in the 1st quarter. KFG Wealth Management LLC now owns 1,883 shares of the business services provider’s stock valued at $252,000 after acquiring an additional 114 shares in the last quarter. Finally, Wedmont Private Capital increased its position in Global Payments by 0.9% in the 1st quarter. Wedmont Private Capital now owns 13,859 shares of the business services provider’s stock valued at $1,776,000 after acquiring an additional 119 shares in the last quarter. Institutional investors and hedge funds own 89.76% of the company’s stock.

Global Payments Company Profile

(Get Free Report)

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.

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