Global Payments (NYSE:GPN) Coverage Initiated at Evercore ISI

Equities researchers at Evercore ISI began coverage on shares of Global Payments (NYSE:GPN - Get Free Report) in a research note issued to investors on Wednesday, MarketBeat Ratings reports. The firm set an "in-line" rating and a $85.00 price target on the business services provider's stock. Evercore ISI's price target would indicate a potential downside of 0.12% from the stock's previous close.

A number of other analysts have also weighed in on the stock. Stephens lowered shares of Global Payments from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $125.00 to $120.00 in a report on Friday, January 10th. StockNews.com upgraded Global Payments from a "hold" rating to a "buy" rating in a research report on Thursday, January 23rd. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $122.00 price target (down previously from $155.00) on shares of Global Payments in a research note on Thursday, January 9th. Bank of America lowered their price objective on Global Payments from $156.00 to $149.00 and set a "buy" rating for the company in a research report on Friday, February 14th. Finally, Citigroup dropped their target price on shares of Global Payments from $138.00 to $135.00 and set a "buy" rating for the company in a research report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Global Payments presently has a consensus rating of "Hold" and a consensus price target of $130.52.

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Global Payments Price Performance

GPN stock traded up $0.14 during midday trading on Wednesday, reaching $85.10. 554,810 shares of the company's stock traded hands, compared to its average volume of 2,236,125. The company has a 50-day simple moving average of $98.59 and a two-hundred day simple moving average of $105.71. The company has a quick ratio of 0.93, a current ratio of 0.97 and a debt-to-equity ratio of 0.66. Global Payments has a 1-year low of $77.83 and a 1-year high of $127.66. The company has a market cap of $20.92 billion, a price-to-earnings ratio of 13.77, a PEG ratio of 0.86 and a beta of 0.97.

Global Payments (NYSE:GPN - Get Free Report) last announced its earnings results on Thursday, February 13th. The business services provider reported $2.84 earnings per share for the quarter, missing analysts' consensus estimates of $2.98 by ($0.14). The business had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.31 billion. Global Payments had a net margin of 15.54% and a return on equity of 12.21%. On average, analysts anticipate that Global Payments will post 11.89 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Global Payments during the 4th quarter worth about $345,823,000. Pzena Investment Management LLC grew its position in shares of Global Payments by 25.0% in the fourth quarter. Pzena Investment Management LLC now owns 8,298,846 shares of the business services provider's stock valued at $929,969,000 after purchasing an additional 1,659,984 shares during the last quarter. Contour Asset Management LLC bought a new position in Global Payments during the 4th quarter worth $147,695,000. Focused Investors LLC bought a new position in Global Payments during the 4th quarter worth $99,969,000. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Global Payments by 1,559.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 548,833 shares of the business services provider's stock worth $61,502,000 after buying an additional 515,763 shares in the last quarter. Institutional investors and hedge funds 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.