Global Payments (NYSE:GPN) Rating Lowered to “Hold” at StockNews.com

Global Payments (NYSE:GPN) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

A number of other brokerages have also weighed in on GPN. KeyCorp dropped their price objective on shares of Global Payments from $145.00 to $135.00 and set an “overweight” rating on the stock in a report on Wednesday, September 25th. BNP Paribas upgraded Global Payments to a “strong sell” rating in a research note on Wednesday, September 4th. B. Riley reduced their price objective on Global Payments from $204.00 to $194.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. JPMorgan Chase & Co. dropped their target price on Global Payments from $118.00 to $115.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 29th. Finally, Monness Crespi & Hardt reduced their price target on shares of Global Payments from $165.00 to $155.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $138.55.

Global Payments Stock Performance

Shares of Global Payments stock opened at $113.76 on Wednesday. The firm has a market capitalization of $28.95 billion, a P/E ratio of 21.42, a PEG ratio of 0.90 and a beta of 1.00. Global Payments has a 52 week low of $91.60 and a 52 week high of $141.77. 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 company has a 50 day moving average price of $111.92 and a 200 day moving average price of $105.36.

Insider Buying and Selling

In other Global Payments news, Director Robert H. B. Baldwin, Jr. bought 5,800 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was acquired at an average price of $116.00 per share, with a total value of $672,800.00. Following the completion of the acquisition, the director now directly owns 42,738 shares of the company’s stock, valued at $4,957,608. This represents a 15.70 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.98% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Global Payments

Institutional investors and hedge funds have recently bought and sold shares of the business. Cromwell Holdings LLC purchased a new position in Global Payments in the 3rd quarter worth approximately $25,000. Beaird Harris Wealth Management LLC purchased a new position in Global Payments during the third quarter worth approximately $25,000. Capital Performance Advisors LLP acquired a new position in Global Payments during the third quarter worth $33,000. Whittier Trust Co. of Nevada Inc. grew its holdings in Global Payments by 59.6% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 383 shares of the business services provider’s stock valued at $39,000 after buying an additional 143 shares in the last quarter. Finally, Quarry LP increased its stake in shares of Global Payments by 134.4% in the 2nd quarter. Quarry LP now owns 511 shares of the business services provider’s stock worth $49,000 after acquiring an additional 293 shares during the last quarter. 89.76% of the stock is currently owned by institutional investors and hedge funds.

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.