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

Global Payments (NYSE:GPN) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

A number of other analysts have also recently commented on the stock. Oppenheimer initiated coverage on shares of Global Payments in a research note on Tuesday, October 1st. They set a “market perform” rating for the company. Stephens cut their price objective on Global Payments from $130.00 to $125.00 and set an “overweight” rating for the company in a research note on Friday, October 18th. B. Riley decreased their target price on Global Payments from $204.00 to $194.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Keefe, Bruyette & Woods boosted their price target on Global Payments from $130.00 to $140.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Finally, Seaport Res Ptn lowered Global Payments from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $138.55.

Global Payments Price Performance

Global Payments stock opened at $112.58 on Friday. The stock has a market capitalization of $28.65 billion, a P/E ratio of 21.20, a P/E/G ratio of 0.88 and a beta of 1.00. The company’s fifty day moving average price is $113.35 and its 200 day moving average price is $106.06. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.93 and a current ratio of 0.93. Global Payments has a 1 year low of $91.60 and a 1 year high of $141.77.

Insider Activity

In other Global Payments news, Director Robert H. B. Baldwin, Jr. acquired 5,800 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was purchased at an average cost of $116.00 per share, with a total value of $672,800.00. Following the transaction, the director now owns 42,738 shares of the company’s stock, valued at $4,957,608. This trade represents a 15.70 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.98% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Stanley Capital Management LLC lifted its holdings in shares of Global Payments by 18.9% in the 2nd quarter. Stanley Capital Management LLC now owns 125,608 shares of the business services provider’s stock worth $12,146,000 after acquiring an additional 20,000 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Global Payments by 65.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,982,496 shares of the business services provider’s stock valued at $203,047,000 after purchasing an additional 785,539 shares during the period. Entropy Technologies LP acquired a new position in Global Payments during the third quarter worth $562,000. Poplar Forest Capital LLC purchased a new position in shares of Global Payments during the third quarter worth $13,184,000. Finally, River Road Asset Management LLC grew its stake in shares of Global Payments by 158.6% in the third quarter. River Road Asset Management LLC now owns 491,331 shares of the business services provider’s stock valued at $50,322,000 after buying an additional 301,358 shares in the last quarter. Hedge funds and other institutional investors own 89.76% of the company’s stock.

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.