Global Payments (NYSE:GPN) Upgraded by StockNews.com to “Buy” Rating

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

A number of other equities research analysts have also recently weighed in on GPN. Morgan Stanley dropped their price target on Global Payments from $164.00 to $156.00 and set an “overweight” rating for the company in a report on Wednesday, September 25th. Seaport Res Ptn cut Global Payments from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. Sanford C. Bernstein cut Global Payments from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $135.00 to $112.00 in a research note on Tuesday, October 22nd. Susquehanna reissued a “positive” rating and issued a $147.00 target price on shares of Global Payments in a research note on Tuesday, September 17th. Finally, KeyCorp lowered their target price on Global Payments from $145.00 to $135.00 and set an “overweight” rating for the company in a research note on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $136.50.

Global Payments Trading Down 0.2 %

GPN stock opened at $116.07 on Tuesday. The business has a fifty day moving average price of $104.82 and a 200 day moving average price of $103.34. Global Payments has a fifty-two week low of $91.60 and a fifty-two week high of $141.77. The stock has a market capitalization of $29.54 billion, a price-to-earnings ratio of 21.86, a P/E/G ratio of 0.89 and a beta of 0.97. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.93 and a quick ratio of 0.93.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Global Payments by 8.4% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 10,214 shares of the business services provider’s stock valued at $1,365,000 after purchasing an additional 788 shares in the last quarter. Empowered Funds LLC boosted its holdings in shares of Global Payments by 219.0% during the first quarter. Empowered Funds LLC now owns 10,317 shares of the business services provider’s stock worth $1,379,000 after acquiring an additional 7,083 shares during the period. QRG Capital Management Inc. boosted its holdings in shares of Global Payments by 11.2% during the first quarter. QRG Capital Management Inc. now owns 5,284 shares of the business services provider’s stock worth $706,000 after acquiring an additional 534 shares during the period. US Bancorp DE boosted its holdings in shares of Global Payments by 4.7% during the first quarter. US Bancorp DE now owns 42,342 shares of the business services provider’s stock worth $5,660,000 after acquiring an additional 1,911 shares during the period. Finally, Bleakley Financial Group LLC boosted its holdings in shares of Global Payments by 6.5% during the first quarter. Bleakley Financial Group LLC now owns 3,018 shares of the business services provider’s stock worth $403,000 after acquiring an additional 185 shares during the period. 89.76% of the stock is currently owned by institutional investors.

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.