Global Payments (NYSE:GPN) Price Target Cut to $160.00

Global Payments (NYSE:GPN) had its price target cut by analysts at Barclays from $170.00 to $160.00 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 target price would indicate a potential upside of 30.13% from the company’s previous close.

GPN has been the topic of a number of other reports. Robert W. Baird upped their price target on Global Payments from $172.00 to $182.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. Wedbush upped their price target on Global Payments from $130.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, January 10th. Evercore ISI lowered their price target on Global Payments from $185.00 to $180.00 and set an “outperform” rating on the stock in a research report on Thursday, February 15th. TheStreet upgraded Global Payments from a “c” rating to a “b-” rating in a research report on Thursday, February 1st. Finally, BMO Capital Markets lowered their price target on Global Payments from $138.00 to $137.00 and set a “market perform” rating on the stock in a research report on Thursday, February 15th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $151.92.

Global Payments Stock Performance

GPN opened at $122.95 on Tuesday. The stock has a market cap of $31.36 billion, a PE ratio of 32.53, a P/E/G ratio of 0.79 and a beta of 0.96. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.67. Global Payments has a 1 year low of $95.12 and a 1 year high of $141.77. The stock’s 50 day simple moving average is $130.89 and its 200-day simple moving average is $124.21.

Global Payments (NYSE:GPN) last released its quarterly earnings data on Wednesday, February 14th. The business services provider reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.64 by $0.01. The business had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.18 billion. Global Payments had a return on equity of 11.44% and a net margin of 10.22%. Global Payments’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the previous year, the business posted $2.30 earnings per share. Sell-side analysts forecast that Global Payments will post 10.94 EPS for the current year.

Institutional Investors Weigh In On Global Payments

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD increased its holdings in Global Payments by 5.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,528,048 shares of the business services provider’s stock valued at $1,591,064,000 after purchasing an additional 650,274 shares during the last quarter. State Street Corp increased its holdings in Global Payments by 1.3% in the first quarter. State Street Corp now owns 10,819,457 shares of the business services provider’s stock valued at $1,138,638,000 after purchasing an additional 134,403 shares during the last quarter. FMR LLC increased its holdings in Global Payments by 40.7% in the third quarter. FMR LLC now owns 9,346,779 shares of the business services provider’s stock valued at $1,078,525,000 after purchasing an additional 2,703,434 shares during the last quarter. Boston Partners increased its holdings in Global Payments by 40.5% in the third quarter. Boston Partners now owns 5,142,771 shares of the business services provider’s stock valued at $591,613,000 after purchasing an additional 1,481,714 shares during the last quarter. Finally, Franklin Resources Inc. increased its holdings in Global Payments by 2.7% in the fourth quarter. Franklin Resources Inc. now owns 5,087,801 shares of the business services provider’s stock valued at $646,151,000 after purchasing an additional 132,635 shares during the last quarter. Institutional investors own 89.76% of the company’s stock.

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.