Global Payments (NYSE:GPN) Price Target Cut to $156.00 by Analysts at Morgan Stanley

Global Payments (NYSE:GPN) had its price target decreased by investment analysts at Morgan Stanley from $164.00 to $156.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the business services provider’s stock. Morgan Stanley’s price objective would indicate a potential upside of 62.15% from the company’s current price.

A number of other research analysts have also weighed in on GPN. William Blair lowered shares of Global Payments from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Stephens reiterated an “overweight” rating and issued a $130.00 price objective on shares of Global Payments in a research note on Wednesday, September 18th. StockNews.com upgraded shares of Global Payments from a “hold” rating to a “buy” rating in a research report on Wednesday, September 18th. Royal Bank of Canada reduced their price target on shares of Global Payments from $172.00 to $158.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Finally, BTIG Research lowered shares of Global Payments from a “buy” rating to a “neutral” rating in a research report on Wednesday. One 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 company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $141.36.

Global Payments Stock Performance

Shares of Global Payments stock traded down $7.60 during mid-day trading on Wednesday, hitting $96.21. 2,435,245 shares of the stock were exchanged, compared to its average volume of 2,239,131. Global Payments has a 12 month low of $91.60 and a 12 month high of $141.77. The company has a 50-day simple moving average of $105.76 and a 200 day simple moving average of $109.70. 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 $24.48 billion, a P/E ratio of 19.29, a P/E/G ratio of 0.71 and a beta of 0.98.

Global Payments (NYSE:GPN) last posted its quarterly earnings results on Wednesday, August 7th. The business services provider reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $2.90 by $0.03. The company had revenue of $2.57 billion for the quarter, compared to analysts’ expectations 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 was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.48 EPS. Sell-side analysts anticipate that Global Payments will post 11.07 earnings per share for the current fiscal 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 dated Thursday, August 8th. The shares were sold at an average price of $100.73, for a total value of $166,305.23. Following the transaction, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.98% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Global Payments

Several large investors have recently made changes to their positions in GPN. New Covenant Trust Company N.A. purchased a new stake in Global Payments during the 1st quarter worth approximately $31,000. LRI Investments LLC purchased a new stake in Global Payments during the 1st quarter worth approximately $32,000. POM Investment Strategies LLC purchased a new stake in Global Payments during the 2nd quarter worth approximately $32,000. West Paces Advisors Inc. increased its stake in 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 buying an additional 109 shares during the period. Finally, North Star Investment Management Corp. increased its stake in Global Payments by 154.7% during the 1st quarter. North Star Investment Management Corp. now owns 354 shares of the business services provider’s stock worth $47,000 after buying an additional 215 shares during the period. 89.76% of the stock is currently owned by institutional investors and hedge funds.

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.