Global Payments (NYSE:GPN) Price Target Cut to $140.00

Global Payments (NYSE:GPN) had its target price lowered by research analysts at Keefe, Bruyette & Woods from $150.00 to $140.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has an “outperform” rating on the business services provider’s stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 46.15% from the stock’s previous close.

Several other research firms have also commented on GPN. TD Cowen dropped their target price on Global Payments from $152.00 to $125.00 and set a “buy” rating on the stock in a report on Friday, June 21st. KeyCorp lowered their price objective on shares of Global Payments from $155.00 to $145.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd. Susquehanna cut their price target on Global Payments from $160.00 to $157.00 and set a “positive” rating for the company in a research note on Thursday, May 2nd. Mizuho reduced their target price on shares of Global Payments from $129.00 to $105.00 and set a “neutral” rating for the company in a research note on Wednesday, May 15th. Finally, Robert W. Baird dropped their price target on shares of Global Payments from $182.00 to $150.00 and set an “outperform” rating on the stock in a research note on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $145.32.

Global Payments Price Performance

Global Payments stock opened at $95.79 on Monday. The company’s 50 day moving average is $101.08 and its two-hundred day moving average is $119.97. The firm has a market cap of $24.45 billion, a PE ratio of 19.01, a price-to-earnings-growth ratio of 0.61 and a beta of 0.98. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.68. Global Payments has a 52-week low of $91.60 and a 52-week high of $141.77.

Global Payments (NYSE:GPN) last released its earnings results on Wednesday, May 1st. The business services provider reported $2.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.41 by $0.07. The firm had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.17 billion. Global Payments had a return on equity of 11.72% and a net margin of 13.40%. On average, research analysts expect that Global Payments will post 11.09 EPS for the current fiscal year.

Insider Buying and Selling at Global Payments

In other news, VP Andrea M. Carter sold 3,300 shares of Global Payments stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $111.34, for a total value of $367,422.00. Following the completion of the sale, the vice president now owns 25,209 shares of the company’s stock, valued at $2,806,770.06. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.98% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Global Payments

A number of large investors have recently bought and sold shares of GPN. New Covenant Trust Company N.A. purchased a new position in shares of Global Payments in the 1st quarter worth $31,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Global Payments in the 4th quarter worth about $30,000. LRI Investments LLC acquired a new position in shares of Global Payments in the 1st quarter valued at about $32,000. West Paces Advisors Inc. grew its holdings in shares of Global Payments by 54.5% during the 1st quarter. West Paces Advisors Inc. now owns 309 shares of the business services provider’s stock worth $41,000 after purchasing an additional 109 shares during the period. Finally, McGlone Suttner Wealth Management Inc. acquired a new stake in Global Payments during the 4th quarter worth approximately $41,000. Hedge funds and other 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.