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

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

Other research analysts also recently issued research reports about the company. B. Riley reduced their target price on Global Payments from $204.00 to $194.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. Sanford C. Bernstein cut Global Payments from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $135.00 to $112.00 in a research note on Tuesday, October 22nd. BTIG Research lowered shares of Global Payments from a “buy” rating to a “neutral” rating in a research note on Wednesday, September 25th. BNP Paribas raised shares of Global Payments to a “strong sell” rating in a report on Wednesday, September 4th. Finally, The Goldman Sachs Group lifted their price target on shares of Global Payments from $135.00 to $155.00 and gave the company a “buy” rating in a report on Monday, December 2nd. 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’s stock. According to data from MarketBeat.com, Global Payments presently has an average rating of “Moderate Buy” and an average target price of $137.41.

Global Payments Stock Performance

Shares of GPN stock opened at $114.24 on Thursday. The stock has a market capitalization of $29.07 billion, a price-to-earnings ratio of 21.80, a PEG ratio of 0.90 and a beta of 1.00. Global Payments has a one year low of $91.60 and a one year high of $141.77. The company’s 50-day simple moving average is $109.44 and its 200-day simple moving average is $104.45. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.93 and a current ratio of 0.93.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of GPN. B. Riley Wealth Advisors Inc. lifted its stake in Global Payments by 10.6% during the third quarter. B. Riley Wealth Advisors Inc. now owns 8,569 shares of the business services provider’s stock valued at $873,000 after purchasing an additional 819 shares during the last quarter. Beaird Harris Wealth Management LLC acquired a new position in shares of Global Payments in the 3rd quarter worth $25,000. Franklin Resources Inc. grew its holdings in shares of Global Payments by 1.5% in the 3rd quarter. Franklin Resources Inc. now owns 5,499,729 shares of the business services provider’s stock worth $564,437,000 after acquiring an additional 83,481 shares during the last quarter. Peapack Gladstone Financial Corp purchased a new stake in shares of Global Payments during the third quarter valued at $253,000. Finally, Tidal Investments LLC lifted its holdings in shares of Global Payments by 0.3% during the third quarter. Tidal Investments LLC now owns 26,946 shares of the business services provider’s stock valued at $2,760,000 after purchasing an additional 86 shares during 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.