Global Payments (NYSE:GPN) Stock Rating Lowered by StockNews.com

Global Payments (NYSE:GPN) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

Several other brokerages have also recently issued reports on GPN. Keefe, Bruyette & Woods upped their price objective on Global Payments from $130.00 to $140.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. The Goldman Sachs Group reissued a “neutral” rating and set a $122.00 target price (down from $155.00) on shares of Global Payments in a report on Thursday, January 9th. Stephens lowered shares of Global Payments from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $125.00 to $120.00 in a research note on Friday, January 10th. TD Cowen dropped their target price on Global Payments from $125.00 to $122.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Finally, B. Riley reduced their price target on shares of Global Payments from $204.00 to $194.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $135.71.

Global Payments Stock Performance

Global Payments stock opened at $108.16 on Wednesday. The stock has a market cap of $27.53 billion, a P/E ratio of 20.37, a price-to-earnings-growth ratio of 0.88 and a beta of 1.00. The stock has a 50 day moving average of $114.24 and a 200-day moving average of $106.96. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65. Global Payments has a 52 week low of $91.60 and a 52 week high of $141.77.

Insider Transactions at Global Payments

In related news, Director Robert H. B. Baldwin, Jr. bought 5,800 shares of the business’s stock in a transaction on Friday, December 13th. The shares were bought at an average cost of $116.00 per share, for a total transaction of $672,800.00. Following the completion of the acquisition, the director now directly owns 42,738 shares in the company, valued at approximately $4,957,608. This represents a 15.70 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.98% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Global Payments

Institutional investors have recently modified their holdings of the company. Cromwell Holdings LLC acquired a new stake in Global Payments in the 3rd quarter worth $25,000. Beaird Harris Wealth Management LLC acquired a new position in shares of Global Payments in the third quarter valued at $25,000. Capital Performance Advisors LLP acquired a new stake in Global Payments during the third quarter worth $33,000. Whittier Trust Co. of Nevada Inc. increased its holdings in Global Payments by 59.6% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 383 shares of the business services provider’s stock valued at $39,000 after buying an additional 143 shares during the period. Finally, Quarry LP raised its stake in shares of Global Payments by 134.4% in the 2nd quarter. Quarry LP now owns 511 shares of the business services provider’s stock valued at $49,000 after buying an additional 293 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.