Global Payments (NYSE:GPN) Rating Reiterated by Royal Bank of Canada

Global Payments (NYSE:GPN)‘s stock had its “outperform” rating reiterated by research analysts at Royal Bank of Canada in a research report issued to clients and investors on Wednesday, Benzinga reports. They currently have a $172.00 price target on the business services provider’s stock. Royal Bank of Canada’s target price points to a potential upside of 77.62% from the company’s previous close.

Several other analysts have also recently commented on the company. Citigroup dropped their price target on Global Payments from $163.00 to $155.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. TD Cowen decreased their price target on shares of Global Payments from $152.00 to $125.00 and set a “buy” rating on the stock in a research note on Friday, June 21st. Barclays dropped their price objective on shares of Global Payments from $160.00 to $145.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. Evercore ISI decreased their target price on shares of Global Payments from $170.00 to $160.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. Finally, BMO Capital Markets dropped their price target on Global Payments from $143.00 to $128.00 and set a “market perform” rating for the company in a research report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $145.32.

Global Payments Price Performance

NYSE GPN opened at $96.84 on Wednesday. The company has a market cap of $24.72 billion, a PE ratio of 19.21, a P/E/G ratio of 0.61 and a beta of 0.98. The firm’s 50 day moving average price is $100.52 and its 200-day moving average price is $119.64. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.92 and a current ratio of 0.92. Global Payments has a 52-week low of $91.60 and a 52-week high of $141.77.

Global Payments (NYSE:GPN) last announced its earnings results on Wednesday, May 1st. The business services provider reported $2.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.41 by $0.07. The business had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.17 billion. Global Payments had a return on equity of 11.72% and a net margin of 13.40%. Sell-side analysts forecast that Global Payments will post 11.09 EPS for the current fiscal year.

Insider Buying and Selling

In other Global Payments news, VP Andrea M. Carter sold 3,300 shares of the stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $111.34, for a total value of $367,422.00. Following the sale, the vice president now owns 25,209 shares of the company’s stock, valued at approximately $2,806,770.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.98% of the stock is currently owned by insiders.

Institutional Trading of Global Payments

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. New Covenant Trust Company N.A. acquired a new position in shares of Global Payments in the first quarter valued at approximately $31,000. Turtle Creek Wealth Advisors LLC purchased a new position in Global Payments during the 4th quarter worth $30,000. LRI Investments LLC purchased a new stake in shares of Global Payments in the first quarter valued at about $32,000. West Paces Advisors Inc. increased its stake in shares of Global Payments by 54.5% during the first quarter. West Paces Advisors Inc. now owns 309 shares of the business services provider’s stock worth $41,000 after acquiring an additional 109 shares during the period. Finally, McGlone Suttner Wealth Management Inc. acquired a new position in shares of Global Payments during the fourth quarter worth about $41,000. 89.76% of the stock is owned by hedge funds and other institutional investors.

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.