Global Payments (NYSE:GPN) PT Lowered to $122.00 at BMO Capital Markets

Global Payments (NYSE:GPN) had its price objective reduced by BMO Capital Markets from $126.00 to $122.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “market perform” rating on the business services provider’s stock. BMO Capital Markets’ target price points to a potential upside of 26.81% from the company’s current price.

Several other equities analysts have also weighed in on the stock. Evercore ISI cut their target price on shares of Global Payments from $170.00 to $160.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. Royal Bank of Canada dropped their price target on shares of Global Payments from $172.00 to $158.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. TD Cowen dropped their price target on shares of Global Payments from $125.00 to $122.00 and set a “buy” rating on the stock in a research note on Wednesday. Keefe, Bruyette & Woods dropped their price target on shares of Global Payments from $150.00 to $140.00 and set an “outperform” rating on the stock in a research note on Monday, July 8th. Finally, William Blair cut shares of Global Payments from an “outperform” rating to a “market perform” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $141.36.

Global Payments Stock Performance

GPN traded down $7.60 during trading on Wednesday, reaching $96.21. 2,435,245 shares of the company’s stock were exchanged, compared to its average volume of 2,239,131. 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 0.68, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market capitalization of $24.48 billion, a P/E ratio of 19.29, a price-to-earnings-growth ratio of 0.71 and a beta of 0.98. The company’s fifty day simple moving average is $105.76 and its 200-day simple moving average is $109.70.

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

Insider Activity at Global Payments

In related news, CAO David M. Sheffield sold 1,651 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $100.73, for a total value of $166,305.23. Following the completion of the transaction, the chief accounting officer now directly owns 20,531 shares of the company’s stock, valued at $2,068,087.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.98% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Global Payments

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. New Covenant Trust Company N.A. acquired a new position in Global Payments in the first quarter valued at approximately $31,000. LRI Investments LLC acquired a new stake in shares of Global Payments in the first quarter valued at approximately $32,000. West Paces Advisors Inc. boosted its holdings in shares of Global Payments by 54.5% in the first quarter. West Paces Advisors Inc. now owns 309 shares of the business services provider’s stock valued at $41,000 after acquiring an additional 109 shares during the period. POM Investment Strategies LLC acquired a new stake in shares of Global Payments in the second quarter valued at approximately $32,000. Finally, North Star Investment Management Corp. boosted its holdings in shares of Global Payments by 154.7% in the first quarter. North Star Investment Management Corp. now owns 354 shares of the business services provider’s stock valued at $47,000 after acquiring an additional 215 shares during the period. 89.76% of the stock is 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.