Global Payments (NYSE:GPN) Upgraded to Strong Sell by BNP Paribas

Global Payments (NYSE:GPN) was upgraded by stock analysts at BNP Paribas to a “strong sell” rating in a research note issued on Wednesday, Zacks.com reports.

Other equities analysts have also recently issued reports about the stock. Stephens cut their target price on shares of Global Payments from $145.00 to $130.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Susquehanna reduced their target price on shares of Global Payments from $157.00 to $147.00 and set a “positive” rating for the company in a report on Thursday, August 8th. BMO Capital Markets boosted their price target on Global Payments from $124.00 to $126.00 and gave the company a “market perform” rating in a research report on Thursday, August 8th. Evercore ISI reduced their price objective on Global Payments from $170.00 to $160.00 and set an “outperform” rating for the company in a research note on Tuesday, June 25th. Finally, Mizuho lowered their target price on Global Payments from $129.00 to $105.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 15th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $140.71.

Global Payments Price Performance

GPN stock opened at $108.96 on Wednesday. The business has a 50 day moving average price of $102.41 and a 200 day moving average price of $111.88. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.68. The stock has a market cap of $27.81 billion, a price-to-earnings ratio of 21.62, a PEG ratio of 0.71 and a beta of 0.98. Global Payments has a fifty-two week low of $91.60 and a fifty-two week high of $141.77.

Global Payments (NYSE:GPN) last issued its earnings results on Wednesday, August 7th. The business services provider reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.90 by $0.03. Global Payments had a net margin of 14.26% and a return on equity of 11.93%. The business had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.32 billion. During the same quarter in the prior year, the business posted $2.48 EPS. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. Equities research analysts anticipate that Global Payments will post 11.07 earnings per share for the current fiscal year.

Insider Transactions at Global Payments

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

Institutional Trading of Global Payments

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Lake Street Advisors Group LLC acquired a new stake in Global Payments during the 4th quarter valued at approximately $210,000. McKinley Carter Wealth Services Inc. increased its stake in shares of Global Payments by 35.4% in the fourth quarter. McKinley Carter Wealth Services Inc. now owns 46,953 shares of the business services provider’s stock worth $5,963,000 after buying an additional 12,273 shares during the last quarter. Cibc World Markets Corp raised its holdings in Global Payments by 29.1% in the fourth quarter. Cibc World Markets Corp now owns 82,672 shares of the business services provider’s stock valued at $10,499,000 after acquiring an additional 18,615 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Global Payments by 6.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 255,468 shares of the business services provider’s stock valued at $32,064,000 after acquiring an additional 15,655 shares during the last quarter. Finally, Foundations Investment Advisors LLC bought a new stake in shares of Global Payments in the 4th quarter worth about $212,000. 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.