Monness Crespi & Hardt Cuts Global Payments (NYSE:GPN) Price Target to $155.00

Global Payments (NYSE:GPN) had its price objective reduced by stock analysts at Monness Crespi & Hardt from $165.00 to $155.00 in a research note issued to investors on Wednesday, Marketbeat Ratings reports. The brokerage currently has a “buy” rating on the business services provider’s stock. Monness Crespi & Hardt’s price target indicates a potential upside of 58.70% from the stock’s previous close.

GPN has been the subject of several other reports. Susquehanna reissued a “positive” rating and issued a $147.00 price target on shares of Global Payments in a report on Tuesday, September 17th. BMO Capital Markets raised their target price on Global Payments from $124.00 to $126.00 and gave the company a “market perform” rating in a report on Thursday, August 8th. Royal Bank of Canada lowered their price target on shares of Global Payments from $172.00 to $158.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Stephens reiterated an “overweight” rating and issued a $130.00 price objective on shares of Global Payments in a research note on Wednesday, September 18th. Finally, KeyCorp lowered their target price on shares of Global Payments from $145.00 to $135.00 and set an “overweight” rating on the stock in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, Global Payments presently has an average rating of “Moderate Buy” and an average target price of $141.36.

Global Payments Stock Performance

Shares of GPN opened at $97.67 on Wednesday. The company’s 50 day simple moving average is $105.63 and its 200-day simple moving average is $109.61. The firm has a market cap of $24.93 billion, a PE ratio of 19.38, a price-to-earnings-growth ratio of 0.71 and a beta of 0.98. Global Payments has a 12-month low of $91.60 and a 12-month high of $141.77. The company has a current ratio of 0.92, a quick 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 EPS for the quarter, beating the consensus estimate of $2.90 by $0.03. The firm had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.32 billion. Global Payments had a return on equity of 11.93% and a net margin of 14.26%. The firm’s revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.48 EPS. As a group, equities analysts predict that Global Payments will post 11.07 EPS for the current year.

Insider Activity

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

Institutional Trading of Global Payments

Several institutional investors have recently made changes to their positions in the business. Fidelis Capital Partners LLC grew its position in Global Payments by 5.1% in the first quarter. Fidelis Capital Partners LLC now owns 1,930 shares of the business services provider’s stock valued at $258,000 after acquiring an additional 93 shares during the period. Oliver Luxxe Assets LLC grew its holdings in shares of Global Payments by 0.3% in the 1st quarter. Oliver Luxxe Assets LLC now owns 34,435 shares of the business services provider’s stock worth $4,603,000 after purchasing an additional 108 shares during the last quarter. West Paces Advisors Inc. increased its position in shares of Global Payments by 54.5% during the 1st quarter. West Paces Advisors Inc. now owns 309 shares of the business services provider’s stock worth $41,000 after purchasing an additional 109 shares in the last quarter. KFG Wealth Management LLC lifted its holdings in Global Payments by 6.4% during the 1st quarter. KFG Wealth Management LLC now owns 1,883 shares of the business services provider’s stock valued at $252,000 after purchasing an additional 114 shares during the last quarter. Finally, Wedmont Private Capital boosted its position in Global Payments by 0.9% in the first quarter. Wedmont Private Capital now owns 13,859 shares of the business services provider’s stock valued at $1,776,000 after buying an additional 119 shares in the last quarter. 89.76% of the stock is currently owned by institutional investors and hedge funds.

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.