Morgan Stanley Cuts Global Payments (NYSE:GPN) Price Target to $163.00

Global Payments (NYSE:GPN) had its target price dropped by equities research analysts at Morgan Stanley from $166.00 to $163.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the business services provider’s stock. Morgan Stanley’s price target suggests a potential upside of 54.26% from the company’s previous close.

A number of other equities analysts have also weighed in on the stock. Keefe, Bruyette & Woods boosted their price target on shares of Global Payments from $130.00 to $140.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Stephens cut Global Payments from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $125.00 to $120.00 in a report on Friday, January 10th. Bank of America cut their price target on Global Payments from $156.00 to $149.00 and set a “buy” rating for the company in a report on Friday. Barclays boosted their price objective on Global Payments from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Finally, Royal Bank of Canada cut their target price on Global Payments from $143.00 to $130.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $135.76.

Global Payments Price Performance

NYSE:GPN opened at $105.67 on Friday. The stock has a 50 day moving average of $110.97 and a two-hundred day moving average of $108.56. Global Payments has a 12 month low of $91.60 and a 12 month high of $141.77. The firm has a market cap of $26.89 billion, a P/E ratio of 19.90, a price-to-earnings-growth ratio of 0.80 and a beta of 1.01. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65.

Global Payments (NYSE:GPN) last issued its quarterly earnings results on Thursday, February 13th. The business services provider reported $2.84 EPS for the quarter, missing the consensus estimate of $2.98 by ($0.14). The firm had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Global Payments had a return on equity of 11.94% and a net margin of 13.61%. On average, analysts expect that Global Payments will post 11 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Robert H. B. Baldwin, Jr. acquired 5,800 shares of Global Payments stock in a transaction dated Friday, December 13th. The shares were acquired at an average cost of $116.00 per share, for a total transaction of $672,800.00. Following the completion of the purchase, the director now owns 42,738 shares in the company, valued at approximately $4,957,608. The trade was a 15.70 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.98% of the stock is owned by insiders.

Institutional Investors Weigh In On Global Payments

Hedge funds have recently bought and sold shares of the stock. Cromwell Holdings LLC acquired a new position in shares of Global Payments during the third quarter worth about $25,000. Beaird Harris Wealth Management LLC acquired a new position in Global Payments during the 3rd quarter worth approximately $25,000. Optiver Holding B.V. purchased a new stake in shares of Global Payments in the 4th quarter valued at approximately $28,000. Capital Performance Advisors LLP acquired a new stake in shares of Global Payments in the 3rd quarter valued at $33,000. Finally, Whipplewood Advisors LLC acquired a new position in shares of Global Payments during the fourth quarter worth $37,000. Institutional investors and hedge funds 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.