StockNews.com Downgrades Global Payments (NYSE:GPN) to Hold

Global Payments (NYSE:GPN) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

Several other equities research analysts have also recently weighed in on GPN. Stephens lowered their price target on shares of Global Payments from $130.00 to $125.00 and set an “overweight” rating for the company in a research report on Friday, October 18th. Royal Bank of Canada lowered their target price on Global Payments from $143.00 to $130.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Sanford C. Bernstein downgraded Global Payments from an “outperform” rating to a “market perform” rating and cut their price target for the company from $135.00 to $112.00 in a report on Tuesday, October 22nd. The Goldman Sachs Group upped their price objective on Global Payments from $135.00 to $155.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. Finally, Seaport Res Ptn downgraded shares of Global Payments from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $138.55.

Global Payments Stock Performance

GPN stock opened at $112.58 on Friday. Global Payments has a 1-year low of $91.60 and a 1-year high of $141.77. The business has a 50-day moving average price of $113.35 and a 200 day moving average price of $106.06. The company has a market capitalization of $28.65 billion, a P/E ratio of 21.20, a PEG ratio of 0.88 and a beta of 1.00. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.93 and a quick ratio of 0.93.

Insider Activity

In related news, Director Robert H. B. Baldwin, Jr. acquired 5,800 shares of the firm’s stock in a transaction dated 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 directly owns 42,738 shares in the company, valued at $4,957,608. This represents a 15.70 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.98% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Cromwell Holdings LLC acquired a new stake in shares of Global Payments during the 3rd quarter worth approximately $25,000. Beaird Harris Wealth Management LLC purchased a new stake in Global Payments during the third quarter worth $25,000. Capital Performance Advisors LLP acquired a new stake in Global Payments during the third quarter valued at $33,000. Whittier Trust Co. of Nevada Inc. increased its holdings in Global Payments by 59.6% in the third 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 raised its position in shares of Global Payments by 134.4% in the second quarter. Quarry LP now owns 511 shares of the business services provider’s stock worth $49,000 after acquiring an additional 293 shares during the period. 89.76% of the stock is currently owned by hedge funds and other 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.