Global Payments (NYSE:GPN) Price Target Cut to $135.00

Global Payments (NYSE:GPN) had its price target dropped by KeyCorp from $145.00 to $135.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the business services provider’s stock. KeyCorp’s price target would indicate a potential upside of 30.02% from the company’s previous close.

Other analysts have also issued research reports about the stock. BMO Capital Markets raised their target price on shares of Global Payments from $124.00 to $126.00 and gave the stock a “market perform” rating in a research report on Thursday, August 8th. StockNews.com upgraded Global Payments from a “hold” rating to a “buy” rating in a research note on Wednesday, September 18th. William Blair cut shares of Global Payments from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Evercore ISI decreased their target price on Global Payments from $170.00 to $160.00 and set an “outperform” rating for the company in a research report on Tuesday, June 25th. Finally, BTIG Research downgraded Global Payments from a “buy” rating to a “neutral” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Global Payments has a consensus rating of “Moderate Buy” and a consensus price target of $142.00.

Global Payments Trading Down 6.4 %

Shares of Global Payments stock opened at $103.83 on Wednesday. The company has a 50-day moving average of $105.76 and a two-hundred day moving average of $109.70. Global Payments has a 12-month low of $91.60 and a 12-month high of $141.77. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.68. The stock has a market cap 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 posted its earnings results on Wednesday, August 7th. The business services provider reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.90 by $0.03. Global Payments had a return on equity of 11.93% and a net margin of 14.26%. The company had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.32 billion. During the same quarter in the prior year, the company earned $2.48 earnings per share. Global Payments’s revenue was up 4.7% compared to the same quarter last year. On average, research analysts anticipate that Global Payments will post 11.07 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CAO David M. Sheffield sold 1,651 shares of the business’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 sale, the chief accounting officer now directly owns 20,531 shares in the company, valued at approximately $2,068,087.63. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.98% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Sanctuary Advisors LLC bought a new stake in Global Payments during the 2nd quarter valued at approximately $900,000. Brown Financial Advisors acquired a new position in shares of Global Payments in the 2nd quarter worth approximately $1,128,000. Heritage Oak Wealth Advisors LLC acquired a new stake in Global Payments in the 2nd quarter valued at $333,000. Delphi Management Inc. MA lifted its holdings in Global Payments by 5.6% during the 2nd quarter. Delphi Management Inc. MA now owns 13,682 shares of the business services provider’s stock valued at $1,323,000 after purchasing an additional 730 shares during the last quarter. Finally, Aurora Investment Counsel boosted its holdings in shares of Global Payments by 5.9% in the 2nd quarter. Aurora Investment Counsel now owns 11,300 shares of the business services provider’s stock worth $1,093,000 after acquiring an additional 625 shares in the last quarter. 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.