Barclays Cuts Global Payments (NYSE:GPN) Price Target to $120.00

Global Payments (NYSE:GPN) had its target price lowered by Barclays from $145.00 to $120.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has an “overweight” rating on the business services provider’s stock. Barclays‘s target price would indicate a potential upside of 19.49% from the stock’s previous close.

A number of other research analysts have also commented on GPN. William Blair lowered shares of Global Payments from an “outperform” rating to a “market perform” rating in a research note on Wednesday, September 25th. Susquehanna reaffirmed a “positive” rating and issued a $147.00 target price on shares of Global Payments in a research report on Tuesday, September 17th. Monness Crespi & Hardt dropped their price target on Global Payments from $165.00 to $155.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Keefe, Bruyette & Woods decreased their price objective on Global Payments from $150.00 to $140.00 and set an “outperform” rating on the stock in a report on Monday, July 8th. Finally, B. Riley dropped their target price on Global Payments from $204.00 to $194.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $140.23.

Global Payments Trading Down 1.9 %

Global Payments stock opened at $100.43 on Monday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a 50-day simple moving average of $105.62 and a 200 day simple moving average of $108.56. The stock has a market capitalization of $25.63 billion, a P/E ratio of 19.93, a PEG ratio of 0.71 and a beta of 0.98. Global Payments has a 52 week low of $91.60 and a 52 week high of $141.77.

Global Payments (NYSE:GPN) last posted its earnings results on Wednesday, August 7th. The business services provider reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.90 by $0.03. Global Payments had a return on equity of 11.93% and a net margin of 14.26%. The business had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.32 billion. During the same period in the previous year, the firm earned $2.48 EPS. The firm’s revenue was up 4.7% compared to the same quarter last year. Analysts expect that Global Payments will post 11.07 earnings per share for the current year.

Insider Activity at Global Payments

In other Global Payments news, CAO David M. Sheffield sold 1,651 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $100.73, for a total transaction of $166,305.23. Following the completion of the transaction, the chief accounting officer now owns 20,531 shares of the company’s stock, valued at $2,068,087.63. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.98% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of GPN. New Covenant Trust Company N.A. bought a new stake in Global Payments during the 1st quarter worth $31,000. LRI Investments LLC acquired a new stake in shares of Global Payments during the first quarter valued at about $32,000. POM Investment Strategies LLC bought a new stake in shares of Global Payments during the second quarter worth about $32,000. West Paces Advisors Inc. increased its stake in shares of Global Payments by 54.5% in the first quarter. West Paces Advisors Inc. now owns 309 shares of the business services provider’s stock valued at $41,000 after buying an additional 109 shares during the period. Finally, North Star Investment Management Corp. boosted its position in Global Payments by 154.7% during the 1st quarter. North Star Investment Management Corp. now owns 354 shares of the business services provider’s stock worth $47,000 after buying an additional 215 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.