Global Payments (NYSE:GPN) Price Target Cut to $149.00 by Analysts at Bank of America

Global Payments (NYSE:GPN - Get Free Report) had its price target dropped by Bank of America from $156.00 to $149.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the business services provider's stock. Bank of America's target price points to a potential upside of 39.25% from the company's previous close.

Several other research firms have also weighed in on GPN. Sanford C. Bernstein lowered Global Payments from an "outperform" rating to a "market perform" rating and reduced their target price for the stock from $135.00 to $112.00 in a report on Tuesday, October 22nd. Royal Bank of Canada reduced their target price on Global Payments from $143.00 to $130.00 and set an "outperform" rating for the company in a report on Thursday, October 31st. Keefe, Bruyette & Woods boosted their target price on Global Payments from $130.00 to $140.00 and gave the stock an "outperform" rating in a report on Monday, December 9th. StockNews.com upgraded Global Payments from a "hold" rating to a "buy" rating in a report on Thursday, January 23rd. Finally, Stephens lowered Global Payments from an "overweight" rating to an "equal weight" rating and cut their price target for the stock from $125.00 to $120.00 in a report on Friday, January 10th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and fifteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, Global Payments presently has a consensus rating of "Moderate Buy" and an average target price of $134.33.

Global Payments Stock Up 1.3 %

Shares of NYSE GPN traded up $1.37 during trading hours on Friday, hitting $107.00. The stock had a trading volume of 2,708,297 shares, compared to its average volume of 1,729,932. The company has a market capitalization of $27.23 billion, a P/E ratio of 20.15, a P/E/G ratio of 0.80 and a beta of 1.01. The firm's 50-day moving average price is $110.75 and its two-hundred day moving average price is $108.70. Global Payments has a 52 week low of $91.60 and a 52 week high of $140.38. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.93 and a current ratio of 0.93.

Global Payments (NYSE:GPN - Get Free Report) last posted its earnings results on Thursday, February 13th. The business services provider reported $2.84 earnings per share for the quarter, missing the consensus estimate of $2.98 by ($0.14). Global Payments had a return on equity of 11.94% and a net margin of 13.61%. The company had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.31 billion. Analysts anticipate that Global Payments will post 11 EPS for the current fiscal year.

Insider Buying and Selling at Global Payments

In other Global Payments news, Director Robert H. B. Baldwin, Jr. bought 5,800 shares of the firm's stock in a transaction dated Friday, December 13th. The shares were bought at an average price of $116.00 per share, for a total transaction of $672,800.00. Following the completion of the acquisition, the director now owns 42,738 shares of the company's stock, valued at approximately $4,957,608. This trade represents a 15.70 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.98% of the company's stock.

Institutional Trading of Global Payments

Large investors have recently made changes to their positions in the business. Cromwell Holdings LLC bought a new stake in shares of Global Payments during the third quarter worth $25,000. Beaird Harris Wealth Management LLC bought a new stake in shares of Global Payments during the third quarter worth $25,000. Optiver Holding B.V. bought a new stake in shares of Global Payments during the fourth quarter worth $28,000. Capital Performance Advisors LLP bought a new stake in shares of Global Payments during the third quarter worth $33,000. Finally, Whipplewood Advisors LLC bought a new stake in shares of Global Payments during the fourth quarter worth $37,000. 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.