Global Payments (NYSE:GPN) Lowered to "Hold" Rating by StockNews.com

Global Payments (NYSE:GPN - Get Free Report) was downgraded by StockNews.com from a "buy" rating to a "hold" rating in a note issued to investors on Friday.

A number of other research firms have also weighed in on GPN. Stephens cut their target price on shares of Global Payments from $130.00 to $125.00 and set an "overweight" rating on the stock in a research note on Friday, October 18th. JPMorgan Chase & Co. cut their price objective on shares of Global Payments from $118.00 to $115.00 and set a "neutral" rating on the stock in a report on Tuesday, October 29th. Jefferies Financial Group lowered their target price on shares of Global Payments from $130.00 to $120.00 and set a "buy" rating for the company in a report on Wednesday, October 16th. Oppenheimer began coverage on shares of Global Payments in a research note on Tuesday, October 1st. They set a "market perform" rating on the stock. Finally, Susquehanna restated a "positive" rating and issued a $147.00 price objective on shares of Global Payments in a research note on Tuesday, September 17th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $138.55.

Global Payments Trading Up 0.6 %

NYSE:GPN traded up $0.68 on Friday, reaching $112.58. 896,635 shares of the company's stock were exchanged, compared to its average volume of 928,217. Global Payments has a 52-week low of $91.60 and a 52-week high of $141.77. The business has a fifty day moving average of $113.09 and a 200-day moving average of $105.93. The firm has a market capitalization of $28.65 billion, a price-to-earnings ratio of 21.20, a price-to-earnings-growth ratio of 0.88 and a beta of 1.00. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.65.

Insider Activity at Global Payments

In related news, Director Robert H. B. Baldwin, Jr. acquired 5,800 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was purchased at an average cost of $116.00 per share, for a total transaction of $672,800.00. Following the purchase, the director now directly owns 42,738 shares in the company, valued at $4,957,608. This represents a 15.70 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 0.98% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Global Payments

Hedge funds and other institutional investors have recently bought and sold shares of the business. Commonwealth Equity Services LLC lifted its position in shares of Global Payments by 45.4% in the 2nd quarter. Commonwealth Equity Services LLC now owns 15,499 shares of the business services provider's stock valued at $1,499,000 after acquiring an additional 4,838 shares in the last quarter. Foundations Investment Advisors LLC raised its position in Global Payments by 30.4% during the second quarter. Foundations Investment Advisors LLC now owns 2,361 shares of the business services provider's stock valued at $228,000 after buying an additional 550 shares during the period. TD Asset Management Inc lifted its stake in Global Payments by 6.0% in the 2nd quarter. TD Asset Management Inc now owns 124,626 shares of the business services provider's stock worth $12,051,000 after acquiring an additional 7,033 shares in the last quarter. National Bank of Canada FI boosted its position in Global Payments by 24.0% during the 2nd quarter. National Bank of Canada FI now owns 71,779 shares of the business services provider's stock worth $6,868,000 after acquiring an additional 13,883 shares during the period. Finally, Ovata Capital Management Ltd purchased a new position in Global Payments during the 2nd quarter valued at about $2,582,000. 89.76% of the stock is currently 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.