Global Payments (NYSE:GPN) Price Target Cut to $160.00

Global Payments (NYSE:GPN) had its price target lowered by equities researchers at Evercore ISI from $170.00 to $160.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the business services provider’s stock. Evercore ISI’s price objective suggests a potential upside of 68.17% from the stock’s previous close.

Other research analysts also recently issued reports about the company. Robert W. Baird cut their price objective on Global Payments from $182.00 to $150.00 and set an “outperform” rating on the stock in a research note on Thursday, May 2nd. Susquehanna lowered their target price on Global Payments from $160.00 to $157.00 and set a “positive” rating on the stock in a report on Thursday, May 2nd. BMO Capital Markets lowered their target price on Global Payments from $143.00 to $128.00 and set a “market perform” rating on the stock in a report on Thursday, May 2nd. Citigroup lowered their target price on Global Payments from $163.00 to $155.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Finally, Barclays lowered their target price on Global Payments from $160.00 to $145.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $145.68.

Global Payments Stock Down 0.5 %

Shares of Global Payments stock opened at $95.14 on Tuesday. The stock has a 50-day moving average price of $106.73 and a 200 day moving average price of $122.10. The company has a market cap of $24.28 billion, a P/E ratio of 18.88, a P/E/G ratio of 0.61 and a beta of 0.98. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.68. Global Payments has a 1 year low of $91.60 and a 1 year high of $141.77.

Global Payments (NYSE:GPN) last posted its quarterly earnings results on Wednesday, May 1st. The business services provider reported $2.48 earnings per share for the quarter, topping analysts’ consensus estimates of $2.41 by $0.07. Global Payments had a return on equity of 11.72% and a net margin of 13.40%. The company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.17 billion. As a group, analysts expect that Global Payments will post 11.08 EPS for the current fiscal year.

Insider Buying and Selling at Global Payments

In other news, VP Andrea M. Carter sold 3,300 shares of the company’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $111.34, for a total transaction of $367,422.00. Following the completion of the transaction, the vice president now directly owns 25,209 shares of the company’s stock, valued at $2,806,770.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.98% of the company’s stock.

Institutional Trading of Global Payments

Several institutional investors and hedge funds have recently bought and sold shares of the stock. QRG Capital Management Inc. bought a new stake in Global Payments in the third quarter valued at approximately $229,000. LPL Financial LLC boosted its holdings in shares of Global Payments by 18.2% in the 3rd quarter. LPL Financial LLC now owns 70,889 shares of the business services provider’s stock valued at $8,180,000 after purchasing an additional 10,930 shares in the last quarter. Mariner LLC boosted its holdings in shares of Global Payments by 7.6% in the 3rd quarter. Mariner LLC now owns 29,046 shares of the business services provider’s stock valued at $3,352,000 after purchasing an additional 2,062 shares in the last quarter. Cary Street Partners Investment Advisory LLC boosted its holdings in shares of Global Payments by 113.3% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 804 shares of the business services provider’s stock valued at $93,000 after purchasing an additional 427 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. boosted its holdings in shares of Global Payments by 16.6% in the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,948 shares of the business services provider’s stock valued at $340,000 after purchasing an additional 420 shares in 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.