Barclays Issues Positive Forecast for Global Payments (NYSE:GPN) Stock Price

Global Payments (NYSE:GPN - Get Free Report) had its price target increased by investment analysts at Barclays from $120.00 to $135.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an "overweight" rating on the business services provider's stock. Barclays's price objective suggests a potential upside of 17.70% from the company's current price.

Several other brokerages have also recently issued reports on GPN. Royal Bank of Canada cut their price objective on Global Payments from $143.00 to $130.00 and set an "outperform" rating on the stock in a research note on Thursday, October 31st. The Goldman Sachs Group upped their target price on Global Payments from $135.00 to $155.00 and gave the company a "buy" rating in a report on Monday, December 2nd. Susquehanna restated a "positive" rating and set a $147.00 price objective on shares of Global Payments in a research note on Tuesday, September 17th. 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 research report on Tuesday, October 29th. Finally, Monness Crespi & Hardt cut their price target on Global Payments from $165.00 to $155.00 and set a "buy" rating on the stock in a report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $138.09.

Global Payments Trading Up 0.6 %

Shares of GPN stock traded up $0.74 during mid-day trading on Tuesday, reaching $114.70. The company's stock had a trading volume of 1,325,302 shares, compared to its average volume of 2,257,699. Global Payments has a 12-month low of $91.60 and a 12-month high of $141.77. The firm has a market capitalization of $29.19 billion, a PE ratio of 21.66, a price-to-earnings-growth ratio of 0.90 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. The company's 50 day simple moving average is $110.08 and its 200-day simple moving average is $104.68.

Insiders Place Their Bets

In other news, Director Robert H. B. Baldwin, Jr. purchased 5,800 shares of the business's stock in a transaction dated Friday, December 13th. The shares were acquired at an average price of $116.00 per share, with a total value of $672,800.00. Following the completion of the purchase, the director now directly owns 42,738 shares of the company's stock, valued at $4,957,608. The trade was a 15.70 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.98% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Cromwell Holdings LLC bought a new stake in Global Payments in the third quarter valued at approximately $25,000. Beaird Harris Wealth Management LLC bought a new stake in shares of Global Payments in the 3rd quarter valued at $25,000. Capital Performance Advisors LLP acquired a new stake in Global Payments during the 3rd quarter worth $33,000. POM Investment Strategies LLC bought a new position in Global Payments during the second quarter worth about $32,000. Finally, Whittier Trust Co. of Nevada Inc. grew its stake in Global Payments by 59.6% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 383 shares of the business services provider's stock valued at $39,000 after acquiring an additional 143 shares during the period. 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.