JPMorgan Chase & Co. Lowers Global Payments (NYSE:GPN) Price Target to $115.00

Global Payments (NYSE:GPNGet Free Report) had its target price decreased by analysts at JPMorgan Chase & Co. from $118.00 to $115.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the business services provider’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 11.25% from the stock’s previous close.

GPN has been the topic of several other research reports. William Blair lowered shares of Global Payments from an “outperform” rating to a “market perform” rating in a report on Wednesday, September 25th. StockNews.com cut shares of Global Payments from a “buy” rating to a “hold” rating in a research note on Thursday, September 26th. Stephens cut their price target on shares of Global Payments from $130.00 to $125.00 and set an “overweight” rating for the company in a research note on Friday, October 18th. B. Riley lowered their price objective on Global Payments from $204.00 to $194.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Finally, Barclays cut their target price on Global Payments from $145.00 to $120.00 and set an “overweight” rating for the company in a research report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $137.52.

View Our Latest Research Report on GPN

Global Payments Price Performance

NYSE GPN opened at $103.37 on Tuesday. Global Payments has a twelve month low of $91.60 and a twelve month high of $141.77. The stock has a market capitalization of $26.39 billion, a PE ratio of 20.51, a P/E/G ratio of 0.74 and a beta of 0.98. The stock has a 50-day simple moving average of $104.84 and a 200 day simple moving average of $104.37. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.92 and a current ratio of 0.92.

Global Payments (NYSE:GPNGet Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The business services provider reported $2.93 EPS for the quarter, beating 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 analyst estimates of $2.32 billion. During the same quarter in the prior year, the business earned $2.48 earnings per share. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. Research analysts anticipate that Global Payments will post 11.06 EPS for the current year.

Insider Activity at Global Payments

In other Global Payments news, CAO David M. Sheffield sold 1,651 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $100.73, for a total transaction of $166,305.23. Following the completion of the sale, the chief accounting officer now directly owns 20,531 shares of the company’s stock, valued at approximately $2,068,087.63. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.98% of the stock is owned by company insiders.

Institutional Investors Weigh In On Global Payments

Institutional investors have recently modified their holdings of the business. Stanley Capital Management LLC boosted its stake in Global Payments by 18.9% in the second quarter. Stanley Capital Management LLC now owns 125,608 shares of the business services provider’s stock valued at $12,146,000 after acquiring an additional 20,000 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in shares of Global Payments by 12.3% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 267,483 shares of the business services provider’s stock valued at $35,775,000 after purchasing an additional 29,289 shares during the period. LRI Investments LLC acquired a new position in shares of Global Payments in the 1st quarter valued at $32,000. State Board of Administration of Florida Retirement System boosted its position in shares of Global Payments by 8.8% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 302,364 shares of the business services provider’s stock worth $40,414,000 after purchasing an additional 24,415 shares during the last quarter. Finally, Gradient Investments LLC grew its stake in shares of Global Payments by 20.6% during the second quarter. Gradient Investments LLC now owns 172,939 shares of the business services provider’s stock worth $16,723,000 after purchasing an additional 29,503 shares during the period. Institutional investors and hedge funds own 89.76% of the company’s stock.

Global Payments Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Global Payments (NYSE:GPN)

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