Global Payments (NYSE:GPN) PT Lowered to $194.00 at B. Riley

Global Payments (NYSE:GPN) had its price target cut by equities researchers at B. Riley from $204.00 to $194.00 in a research report issued on Wednesday, Briefing.com reports. The brokerage presently has a “buy” rating on the business services provider’s stock. B. Riley’s price target points to a potential upside of 86.84% from the company’s previous close.

GPN has been the topic of several other reports. Keefe, Bruyette & Woods decreased their price objective on shares of Global Payments from $150.00 to $140.00 and set an “outperform” rating on the stock in a research report on Monday, July 8th. TD Cowen dropped their price objective on Global Payments from $125.00 to $122.00 and set a “buy” rating for the company in a research note on Wednesday. Susquehanna reissued a “positive” rating and set a $147.00 target price on shares of Global Payments in a research note on Tuesday, September 17th. JPMorgan Chase & Co. upped their price target on Global Payments from $111.00 to $118.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Finally, BMO Capital Markets lifted their price objective on shares of Global Payments from $124.00 to $126.00 and gave the company a “market perform” rating in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $141.91.

Global Payments Price Performance

NYSE GPN opened at $103.83 on Wednesday. The business’s fifty day moving average is $105.76 and its 200 day moving average is $109.70. Global Payments has a fifty-two week low of $91.60 and a fifty-two week high of $141.77. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market capitalization of $26.42 billion, a PE ratio of 20.60, a price-to-earnings-growth ratio of 0.71 and a beta of 0.98.

Global Payments (NYSE:GPN) last announced its quarterly earnings data on Wednesday, August 7th. The business services provider reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.90 by $0.03. The company had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.32 billion. Global Payments had a return on equity of 11.93% and a net margin of 14.26%. The firm’s revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.48 EPS. Sell-side analysts predict that Global Payments will post 11.07 earnings per share for the current year.

Insider Buying and Selling

In other Global Payments news, CAO David M. Sheffield sold 1,651 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $100.73, for a total transaction of $166,305.23. Following the transaction, the chief accounting officer now owns 20,531 shares in the company, valued at $2,068,087.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.98% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Global Payments

A number of large investors have recently made changes to their positions in the company. Lake Street Advisors Group LLC bought a new stake in Global Payments in the fourth quarter worth about $210,000. Stanley Capital Management LLC boosted its holdings in Global Payments by 18.9% during the 2nd 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 period. Cibc World Markets Corp grew its position in Global Payments by 29.1% in the 4th quarter. Cibc World Markets Corp now owns 82,672 shares of the business services provider’s stock valued at $10,499,000 after acquiring an additional 18,615 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its stake in Global Payments by 12.3% in the first quarter. CANADA LIFE ASSURANCE Co now owns 267,483 shares of the business services provider’s stock worth $35,775,000 after purchasing an additional 29,289 shares during the period. Finally, LRI Investments LLC purchased a new stake in Global Payments in the first quarter worth $32,000. 89.76% of the stock is owned by hedge funds and other 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.