Global Payments (NYSE:GPN) Earns “Neutral” Rating from The Goldman Sachs Group

Global Payments (NYSE:GPN)‘s stock had its “neutral” rating reiterated by equities researchers at The Goldman Sachs Group in a research note issued on Thursday, Marketbeat reports. They presently have a $122.00 price objective on the business services provider’s stock, down from their prior price objective of $155.00. The Goldman Sachs Group’s target price would suggest a potential upside of 15.21% from the stock’s current price.

Other equities analysts also recently issued reports about the stock. TD Cowen cut their price target on shares of Global Payments from $125.00 to $122.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. JPMorgan Chase & Co. cut their target price on shares of Global Payments from $118.00 to $115.00 and set a “neutral” rating for the company in a research note on Tuesday, October 29th. Monness Crespi & Hardt decreased their price target on Global Payments from $165.00 to $155.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. StockNews.com downgraded Global Payments from a “buy” rating to a “hold” rating in a research report on Friday, January 3rd. Finally, Sanford C. Bernstein cut Global Payments from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $135.00 to $112.00 in a report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $135.71.

Global Payments Stock Performance

Global Payments stock opened at $105.89 on Thursday. The firm has a market capitalization of $26.95 billion, a P/E ratio of 19.94, a P/E/G ratio of 0.88 and a beta of 1.00. The stock has a fifty day moving average price of $114.19 and a two-hundred day moving average price of $106.64. Global Payments has a 52-week low of $91.60 and a 52-week high of $141.77. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.93 and a quick ratio of 0.93.

Insider Buying and Selling

In other Global Payments news, Director Robert H. B. Baldwin, Jr. purchased 5,800 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were bought at an average price of $116.00 per share, with a total value of $672,800.00. Following the completion of the transaction, the director now directly owns 42,738 shares in the company, valued at $4,957,608. This trade represents a 15.70 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.98% of the stock is owned by insiders.

Institutional Trading of Global Payments

Large investors have recently bought and sold shares of the business. Pzena Investment Management LLC boosted its holdings in shares of Global Payments by 3.4% in the third quarter. Pzena Investment Management LLC now owns 6,638,862 shares of the business services provider’s stock valued at $679,952,000 after buying an additional 215,399 shares during the period. Geode Capital Management LLC lifted its position in Global Payments by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 5,928,445 shares of the business services provider’s stock valued at $605,078,000 after acquiring an additional 31,934 shares in the last quarter. Franklin Resources Inc. boosted its stake in Global Payments by 1.5% in the 3rd quarter. Franklin Resources Inc. now owns 5,499,729 shares of the business services provider’s stock worth $564,437,000 after purchasing an additional 83,481 shares during the period. Nordea Investment Management AB increased its holdings in Global Payments by 13.4% during the 4th quarter. Nordea Investment Management AB now owns 2,949,458 shares of the business services provider’s stock worth $330,516,000 after purchasing an additional 349,457 shares in the last quarter. Finally, Janus Henderson Group PLC raised its stake in shares of Global Payments by 22.7% in the 3rd quarter. Janus Henderson Group PLC now owns 2,646,854 shares of the business services provider’s stock valued at $271,090,000 after purchasing an additional 490,411 shares during the period. 89.76% of the stock is owned by institutional investors.

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.