Global Payments (NYSE:GPN) PT Lowered to $135.00

Global Payments (NYSE:GPN) had its price target lowered by research analysts at KeyCorp from $145.00 to $135.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the business services provider’s stock. KeyCorp’s price objective points to a potential upside of 30.02% from the stock’s previous close.

GPN has been the topic of several other reports. Keefe, Bruyette & Woods reduced their target price on Global Payments from $150.00 to $140.00 and set an “outperform” rating on the stock in a report on Monday, July 8th. BNP Paribas raised Global Payments to a “strong sell” rating in a report on Wednesday, September 4th. BMO Capital Markets boosted their target price on Global Payments from $124.00 to $126.00 and gave the stock a “market perform” rating in a research note on Thursday, August 8th. Royal Bank of Canada reduced their price target on shares of Global Payments from $172.00 to $158.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Finally, William Blair downgraded shares of Global Payments from an “outperform” rating to a “market perform” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $142.00.

Global Payments Trading Down 6.4 %

GPN opened at $103.83 on Wednesday. The stock has a market capitalization of $26.42 billion, a P/E ratio of 20.60, a P/E/G ratio of 0.71 and a beta of 0.98. Global Payments has a 12 month low of $91.60 and a 12 month high of $141.77. The firm’s fifty day simple moving average is $105.76 and its 200 day simple moving average is $109.70. 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 (NYSE:GPN) last posted its quarterly earnings results on Wednesday, August 7th. The business services provider reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.90 by $0.03. Global Payments had a net margin of 14.26% and a return on equity of 11.93%. The firm had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.32 billion. During the same period in the prior year, the firm posted $2.48 earnings per share. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, research analysts anticipate that Global Payments will post 11.07 EPS for the current fiscal year.

Insider Transactions at Global Payments

In other 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 completion of the transaction, 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 legal filing with the SEC, which is available through the SEC website. Insiders own 0.98% of the company’s stock.

Institutional Investors Weigh In On Global Payments

A number of institutional investors have recently made changes to their positions in the company. Sanctuary Advisors LLC purchased a new stake in shares of Global Payments during the second quarter valued at $900,000. Brown Financial Advisors bought a new position in Global Payments during the second quarter valued at approximately $1,128,000. Heritage Oak Wealth Advisors LLC purchased a new position in shares of Global Payments in the 2nd quarter worth $333,000. Delphi Management Inc. MA grew its holdings in shares of Global Payments by 5.6% in the second quarter. Delphi Management Inc. MA now owns 13,682 shares of the business services provider’s stock worth $1,323,000 after acquiring an additional 730 shares during the period. Finally, Aurora Investment Counsel increased its holdings in Global Payments by 5.9% during the second quarter. Aurora Investment Counsel now owns 11,300 shares of the business services provider’s stock valued at $1,093,000 after buying an additional 625 shares during the last quarter. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Global Payments Company Profile

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.