Global Payments (NYSE:GPN) Given New $155.00 Price Target at The Goldman Sachs Group

Global Payments (NYSE:GPN) had its price target boosted by research analysts at The Goldman Sachs Group from $135.00 to $155.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the business services provider’s stock. The Goldman Sachs Group’s price target indicates a potential upside of 31.08% from the stock’s current price.

A number of other equities analysts have also recently weighed in on the company. BTIG Research cut Global Payments from a “buy” rating to a “neutral” rating in a report on Wednesday, September 25th. Stephens dropped 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. William Blair lowered shares of Global Payments from an “outperform” rating to a “market perform” rating in a report on Wednesday, September 25th. Monness Crespi & Hardt dropped their target price on shares of Global Payments from $165.00 to $155.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Finally, JPMorgan Chase & Co. decreased their price target on Global Payments from $118.00 to $115.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 29th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $137.41.

Global Payments Stock Performance

NYSE:GPN opened at $118.25 on Monday. The company’s 50-day moving average is $107.01 and its two-hundred day moving average is $103.89. Global Payments has a 1-year low of $91.60 and a 1-year high of $141.77. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a market capitalization of $30.09 billion, a price-to-earnings ratio of 22.27, a PEG ratio of 0.91 and a beta of 1.00.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Stanley Capital Management LLC lifted its position in Global Payments by 18.9% in the second quarter. Stanley Capital Management LLC now owns 125,608 shares of the business services provider’s stock valued at $12,146,000 after acquiring an additional 20,000 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Global Payments by 65.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,982,496 shares of the business services provider’s stock worth $203,047,000 after purchasing an additional 785,539 shares in the last quarter. Entropy Technologies LP purchased a new stake in shares of Global Payments in the 3rd quarter valued at about $562,000. Gradient Investments LLC boosted its position in shares of Global Payments by 20.6% in the 2nd quarter. Gradient Investments LLC now owns 172,939 shares of the business services provider’s stock valued at $16,723,000 after purchasing an additional 29,503 shares during the period. Finally, Poplar Forest Capital LLC purchased a new position in Global Payments during the 3rd quarter worth approximately $13,184,000. Institutional investors and hedge funds 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.