The target price of Global Payments (NYSE:GPN) decreased to $143.00

Global Payments (NYSE:GPN – Get a Free Report) The target price was lowered by investment analysts at Royal Bank of Canada from $158.00 to $143.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an “outperform” rating on the business services provider’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 45.64% from the company’s current price.

Several other brokerages have recently issued reports on GPN. TD Cowen decreased their price objective on shares of Global Payments from $125.00 to $122.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Morgan Stanley decreased their price objective on shares of Global Payments from $164.00 to $156.00 and set an “overweight” rating for the company in a research note on Wednesday, September 25th. B. Riley decreased their price objective on shares of Global Payments from $204.00 to $194.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Monness Crespi & Hardt decreased their price objective on shares of Global Payments from $165.00 to $155.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Finally, Susquehanna reissued a “positive” rating and issued a $147.00 target price on shares of Global Payments in a research note on Tuesday, September 17th. One equities research 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. The stock has a consensus rating of “Moderate Buy” and an average target price of $139.55, according to MarketBeat .

Get the latest Global Payments research report

Global payments stocks rose 0.5%

Shares of GPN stock opened at $98.19 on Friday. The stock has a market cap of $25.06 billion, a P/E ratio of 19.48, a P/E/G ratio of 0.71 and a beta of 0.98. The firm has a 50-day simple moving average of $105.60 and a 200-day simple moving average of $108.42. 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 has a 52-week low of $91.60 and a 52-week high of $141.77.

Global Payments (NYSE:GPN – Get Your Free Report ) last issued its earnings results on Wednesday, August 7th. The business services provider reported $2.93 EPS for the quarter, topping analysts’ consensus estimates 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. In the same quarter last year, the company earned $2.48 per share. The company’s quarterly revenue was up 4.7% year over year. equities analysts predict 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 company’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 directly owns 20,531 shares in the company, valued at $2,068,087.63. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders hold 0.98% of the company’s shares.

Institutional inputs and outputs

A number of institutional investors and hedge funds have recently made changes to their positions in GPN. Pzena Investment Management LLC raised its stake in Global Payments by 194.2% in the second quarter. Pzena Investment Management LLC now owns 6,423,463 shares of the business services provider’s stock worth $621,149,000 after acquiring an additional 4,240,388 shares during the period. AQR Capital Management LLC grew its position in Global Payments by 188.1% in the second quarter. AQR Capital Management LLC now owns 1,157,728 shares of the business services provider’s stock worth $109,857,000 after buying an additional 755,898 shares during the period. Natixis grew its position in Global Payments by 830.2% in the first quarter. Natixis now owns 589,520 shares of the business services provider’s stock worth $78,795,000 after purchasing an additional 526,143 shares during the period. Lord Abbett & CO. LLC increased its position in Global Payments by 267.0% in the first quarter. Lord Abbett & CO. LLC now owns 677,854 shares of the business services provider’s stock worth $90,602,000 after buying an additional 493,164 shares during the period. Finally, DE Shaw & Co. Inc. raised its position in Global Payments by 316.7% during the second quarter. BY Shaw & Co. Inc. now owns 609,939 shares of the business services provider’s stock worth $58,981,000 after buying an additional 463,568 shares during the period. 89.76% of shares are currently held by institutional investors and hedge funds.

About global payments

(Get a free report)

Global Payments Inc provides payment technology and software solutions for card, check and digital payments in the Americas, Europe and Asia-Pacific. It operates through two segments, Merchant Solutions and Issuer Solutions. The Merchant Solutions segment offers authorization, settlement and financing, customer support, chargeback resolution, terminal rental, sales and implementation, payment security and consolidated billing and reporting services.

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