Global Payments (NYSE:GPN) Given New $125.00 Price Target at Barclays

Global Payments (NYSE:GPN) had its target price reduced by equities researchers at Barclays from $135.00 to $125.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the business services provider’s stock. Barclays‘s price objective suggests a potential upside of 18.29% from the stock’s previous close.

Several other equities analysts have also issued reports on GPN. Bank of America decreased their price target on Global Payments from $156.00 to $149.00 and set a “buy” rating on the stock in a research note on Friday. Sanford C. Bernstein cut Global Payments from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $135.00 to $112.00 in a research report on Tuesday, October 22nd. Morgan Stanley lowered their target price on Global Payments from $166.00 to $163.00 and set an “overweight” rating for the company in a research note on Friday. Keefe, Bruyette & Woods raised their price target on shares of Global Payments from $130.00 to $140.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Global Payments from $118.00 to $115.00 and set a “neutral” rating for the company in a research report on Tuesday, October 29th. 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 company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $135.29.

Global Payments Trading Up 1.5 %

GPN opened at $105.67 on Tuesday. The stock has a market capitalization of $26.89 billion, a price-to-earnings ratio of 19.90, a P/E/G ratio of 0.80 and a beta of 1.01. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.65. Global Payments has a twelve month low of $91.60 and a twelve month high of $141.77. The company has a 50-day simple moving average of $110.75 and a 200 day simple moving average of $108.70.

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

Insider Transactions at Global Payments

In related news, Director Robert H. B. Baldwin, Jr. purchased 5,800 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was purchased at an average cost of $116.00 per share, with a total value 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. This trade represents a 15.70 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.98% of the company’s stock.

Hedge Funds Weigh In On Global Payments

A number of hedge funds have recently added to or reduced their stakes in GPN. Exchange Traded Concepts LLC bought a new stake in shares of Global Payments in the third quarter valued at approximately $50,000. Creative Planning raised its holdings in Global Payments by 8.2% during the 3rd quarter. Creative Planning now owns 25,986 shares of the business services provider’s stock valued at $2,662,000 after acquiring an additional 1,959 shares during the period. Net Worth Advisory Group purchased a new stake in shares of Global Payments during the third quarter worth $236,000. Raymond James & Associates grew its position in shares of Global Payments by 19.0% in the third quarter. Raymond James & Associates now owns 396,658 shares of the business services provider’s stock valued at $40,626,000 after purchasing an additional 63,240 shares in the last quarter. Finally, Northwest Investment Counselors LLC bought a new stake in shares of Global Payments during the 3rd quarter valued at $142,000. 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.