BMO Capital Markets Lowers Global Payments (NYSE:GPN) Price Target to $122.00

Global Payments (NYSE:GPN) had its price target dropped by stock analysts at BMO Capital Markets from $126.00 to $122.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “market perform” rating on the business services provider’s stock. BMO Capital Markets’ price target would indicate a potential upside of 24.91% from the stock’s previous close.

A number of other analysts also recently issued reports on GPN. Evercore ISI dropped their price objective on shares of Global Payments from $170.00 to $160.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. Royal Bank of Canada reduced their price objective on Global Payments from $172.00 to $158.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. William Blair cut shares of Global Payments from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Stephens reaffirmed an “overweight” rating and set a $130.00 target price on shares of Global Payments in a report on Wednesday, September 18th. Finally, KeyCorp lowered their target price on Global Payments from $145.00 to $135.00 and set an “overweight” rating for the company in a research note on Wednesday. One research analyst has rated the stock with a sell rating, nine have given a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, Global Payments presently has an average rating of “Moderate Buy” and an average price target of $141.36.

Global Payments Price Performance

Shares of NYSE GPN opened at $97.67 on Wednesday. The stock’s 50-day simple moving average is $105.63 and its two-hundred day simple moving average is $109.61. 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 $24.93 billion, a P/E ratio of 19.38, a P/E/G ratio of 0.71 and a beta of 0.98. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.68.

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

Insider Buying and Selling

In other Global Payments 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 transaction, the chief accounting officer now owns 20,531 shares of the company’s stock, valued at $2,068,087.63. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.98% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. New Covenant Trust Company N.A. bought a new stake in shares of Global Payments during the 1st quarter valued at $31,000. LRI Investments LLC purchased a new position in Global Payments during the first quarter valued at $32,000. West Paces Advisors Inc. grew its holdings in Global Payments by 54.5% during the first quarter. West Paces Advisors Inc. now owns 309 shares of the business services provider’s stock valued at $41,000 after purchasing an additional 109 shares during the period. POM Investment Strategies LLC purchased a new stake in Global Payments in the second quarter worth about $32,000. Finally, North Star Investment Management Corp. raised its stake in shares of Global Payments by 154.7% in the first 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.