Global Payments (NYSE:GPN) PT Lowered to $128.00

Global Payments (NYSE:GPN) had its target price lowered by investment analysts at BMO Capital Markets from $143.00 to $128.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “market perform” rating on the business services provider’s stock. BMO Capital Markets’ price target points to a potential upside of 14.93% from the company’s current price.

Several other analysts have also recently commented on GPN. Keefe, Bruyette & Woods reduced their price target on Global Payments from $158.00 to $150.00 and set an “outperform” rating for the company in a report on Thursday. Susquehanna decreased their target price on shares of Global Payments from $160.00 to $157.00 and set a “positive” rating on the stock in a research report on Thursday. Robert W. Baird cut their price target on shares of Global Payments from $182.00 to $150.00 and set an “outperform” rating for the company in a report on Thursday. Royal Bank of Canada raised their price objective on shares of Global Payments from $154.00 to $172.00 and gave the company an “outperform” rating in a research note on Thursday, February 15th. Finally, TheStreet upgraded shares of Global Payments from a “c” rating to a “b-” rating in a research report on Thursday, February 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $150.00.

Global Payments Stock Performance

NYSE:GPN traded up $0.83 during midday trading on Thursday, reaching $111.37. The stock had a trading volume of 3,191,218 shares, compared to its average volume of 2,029,470. The company has a quick ratio of 0.99, a current ratio of 0.92 and a debt-to-equity ratio of 0.68. The stock has a market cap of $28.43 billion, a P/E ratio of 22.10, a P/E/G ratio of 0.71 and a beta of 0.97. The firm has a fifty day simple moving average of $127.93 and a two-hundred day simple moving average of $124.72. Global Payments has a 12-month low of $95.12 and a 12-month high of $141.77.

Global Payments (NYSE:GPN) last issued its earnings results on Wednesday, February 14th. The business services provider reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.64 by $0.01. The business had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.18 billion. Global Payments had a net margin of 13.40% and a return on equity of 11.72%. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.30 earnings per share. On average, equities analysts expect that Global Payments will post 10.94 EPS for the current year.

Hedge Funds Weigh In On Global Payments

Several large investors have recently added to or reduced their stakes in the business. BluePath Capital Management LLC purchased a new position in shares of Global Payments during the 3rd quarter worth about $27,000. Turtle Creek Wealth Advisors LLC acquired a new position in Global Payments during the fourth quarter worth approximately $30,000. McGlone Suttner Wealth Management Inc. purchased a new position in Global Payments during the fourth quarter worth approximately $41,000. West Paces Advisors Inc. boosted its holdings in shares of Global Payments by 54.5% in the 1st quarter. West Paces Advisors Inc. now owns 309 shares of the business services provider’s stock valued at $41,000 after purchasing an additional 109 shares during the last quarter. Finally, Parkside Financial Bank & Trust grew its stake in shares of Global Payments by 77.7% during the 3rd quarter. Parkside Financial Bank & Trust now owns 407 shares of the business services provider’s stock valued at $47,000 after buying an additional 178 shares during the period. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

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.