StockNews.com Upgrades Global Payments (NYSE:GPN) to “Buy”

Global Payments (NYSE:GPN) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Monday.

A number of other equities analysts have also recently commented on the stock. Stephens reduced their price objective 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. Susquehanna reaffirmed a “positive” rating and set a $147.00 target price on shares of Global Payments in a report on Tuesday, September 17th. Oppenheimer started coverage on shares of Global Payments in a report on Tuesday, October 1st. They issued a “market perform” rating on the stock. BMO Capital Markets decreased their target price on Global Payments from $126.00 to $122.00 and set a “market perform” rating on the stock in a research report on Wednesday, September 25th. Finally, Royal Bank of Canada dropped their price target on Global Payments from $143.00 to $130.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, Global Payments has a consensus rating of “Moderate Buy” and an average target price of $137.41.

Global Payments Stock Performance

GPN opened at $118.25 on Monday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.65. The stock has a market cap of $30.09 billion, a price-to-earnings ratio of 22.27, a PEG ratio of 0.91 and a beta of 1.00. Global Payments has a 12-month low of $91.60 and a 12-month high of $141.77. The business has a 50 day moving average of $107.01 and a 200-day moving average of $103.89.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in GPN. Beaird Harris Wealth Management LLC bought a new position in Global Payments during the 3rd quarter worth approximately $25,000. Franklin Resources Inc. raised its stake in Global Payments by 1.5% during the 3rd quarter. Franklin Resources Inc. now owns 5,499,729 shares of the business services provider’s stock worth $564,437,000 after buying an additional 83,481 shares during the period. Peapack Gladstone Financial Corp acquired a new position in shares of Global Payments during the third quarter worth approximately $253,000. Tidal Investments LLC lifted its stake in shares of Global Payments by 0.3% in the third quarter. Tidal Investments LLC now owns 26,946 shares of the business services provider’s stock valued at $2,760,000 after buying an additional 86 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB boosted its stake in Global Payments by 24.3% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 44,394 shares of the business services provider’s stock valued at $4,547,000 after purchasing an additional 8,677 shares during the last quarter. 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.