Global Payments (NYSE:GPN) PT Lowered to $120.00

Global Payments (NYSE:GPN) had its price target cut by stock analysts at Barclays from $145.00 to $120.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the business services provider’s stock. Barclays‘s price objective points to a potential upside of 19.49% from the stock’s current price.

A number of other brokerages have also commented on GPN. Seaport Res Ptn lowered shares of Global Payments from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. Keefe, Bruyette & Woods lowered their price target on shares of Global Payments from $150.00 to $140.00 and set an “outperform” rating for the company in a report on Monday, July 8th. Royal Bank of Canada reduced their price objective on Global Payments from $172.00 to $158.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Monness Crespi & Hardt lowered their target price on Global Payments from $165.00 to $155.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Finally, Stephens restated an “overweight” rating and set a $130.00 target price on shares of Global Payments in a research report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, Global Payments has an average rating of “Moderate Buy” and a consensus target price of $140.23.

Global Payments Trading Down 1.9 %

Shares of Global Payments stock opened at $100.43 on Monday. Global Payments has a 12-month low of $91.60 and a 12-month high of $141.77. The stock has a market capitalization of $25.63 billion, a P/E ratio of 19.93, a price-to-earnings-growth ratio of 0.71 and a beta of 0.98. The company has a 50-day simple moving average of $105.62 and a 200 day simple moving average of $108.56. 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 earnings results on Wednesday, August 7th. The business services provider reported $2.93 EPS for the quarter, topping 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 business had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same period in the previous year, the business earned $2.48 EPS. Global Payments’s revenue was up 4.7% compared to the same quarter last year. Research analysts expect that Global Payments will post 11.07 earnings per share for the current fiscal year.

Insider Activity 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 stock was sold at an average price of $100.73, for a total value of $166,305.23. Following the sale, the chief accounting officer now owns 20,531 shares of the company’s stock, valued at approximately $2,068,087.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.98% of the stock is currently owned by insiders.

Institutional Trading of Global Payments

A number of institutional investors have recently made changes to their positions in GPN. New Covenant Trust Company N.A. bought a new stake in Global Payments during the 1st quarter worth about $31,000. LRI Investments LLC bought a new stake in Global Payments during the first quarter worth about $32,000. West Paces Advisors Inc. boosted its position in 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 purchasing an additional 109 shares during the last quarter. POM Investment Strategies LLC bought a new position in Global Payments in the second quarter valued at approximately $32,000. Finally, North Star Investment Management Corp. increased its position in shares of Global Payments by 154.7% during the 1st quarter. North Star Investment Management Corp. now owns 354 shares of the business services provider’s stock worth $47,000 after purchasing an additional 215 shares during the last quarter. Institutional investors own 89.76% of the company’s stock.

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.