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

Global Payments (NYSE:GPN - Get Free Report) was downgraded by stock analysts at StockNews.com from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Wednesday.

Several other analysts also recently issued reports on GPN. TD Cowen dropped their price target on Global Payments from $125.00 to $122.00 and set a "buy" rating on the stock in a research note on Wednesday, September 25th. BMO Capital Markets reduced their price target on Global Payments from $126.00 to $122.00 and set a "market perform" rating for the company in a research report on Wednesday, September 25th. KeyCorp cut their price objective on shares of Global Payments from $145.00 to $135.00 and set an "overweight" rating on the stock in a research report on Wednesday, September 25th. Oppenheimer initiated coverage on Global Payments in a report on Tuesday, October 1st. They set a "market perform" rating on the stock. Finally, Seaport Res Ptn downgraded Global Payments from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $135.71.

Global Payments Stock Up 0.9 %

Shares of Global Payments stock traded up $1.01 on Wednesday, hitting $109.11. The company had a trading volume of 1,700,011 shares, compared to its average volume of 1,512,935. The stock has a 50-day moving average of $114.24 and a 200-day moving average of $106.96. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.93 and a quick ratio of 0.93. Global Payments has a twelve month low of $91.60 and a twelve month high of $141.77. The firm has a market capitalization of $27.77 billion, a P/E ratio of 20.55, a P/E/G ratio of 0.88 and a beta of 1.00.

Insider Activity

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 acquired at an average cost of $116.00 per share, for a total transaction of $672,800.00. Following the transaction, the director now directly owns 42,738 shares in the company, valued at $4,957,608. This trade represents a 15.70 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.98% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GPN. Ameritas Advisory Services LLC bought a new stake in Global Payments during the 4th quarter worth $277,000. Merit Financial Group LLC grew its holdings in shares of Global Payments by 10.3% during the fourth quarter. Merit Financial Group LLC now owns 5,219 shares of the business services provider's stock worth $585,000 after purchasing an additional 489 shares during the last quarter. Avanza Fonder AB acquired a new position in shares of Global Payments in the fourth quarter valued at approximately $2,154,000. Retireful LLC raised its holdings in Global Payments by 231.0% in the 4th quarter. Retireful LLC now owns 19,716 shares of the business services provider's stock valued at $2,209,000 after buying an additional 13,760 shares during the last quarter. Finally, Park Avenue Securities LLC boosted its position in Global Payments by 27.9% during the 4th quarter. Park Avenue Securities LLC now owns 7,358 shares of the business services provider's stock worth $825,000 after buying an additional 1,604 shares during the period. 89.76% of the stock is currently owned by institutional investors and hedge funds.

About Global Payments

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.