Global Payments (NYSE:GPN – Get Rating) had its target price dropped by research analysts at Citigroup from $195.00 to $180.00 in a note issued to investors on Monday, April 25th, The Fly reports. Citigroup’s target price would indicate a potential upside of 34.65% from the company’s previous close.
Several other research analysts have also recently issued reports on the stock. Jefferies Financial Group raised their target price on shares of Global Payments from $155.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, January 12th. Morgan Stanley lowered their price target on shares of Global Payments from $173.00 to $162.00 and set an “equal weight” rating on the stock in a research report on Friday, February 11th. Raymond James lowered their price target on shares of Global Payments from $197.00 to $190.00 and set an “outperform” rating on the stock in a research report on Friday, February 11th. Stephens assumed coverage on shares of Global Payments in a report on Wednesday, April 6th. They issued an “overweight” rating and a $170.00 target price on the stock. Finally, KeyCorp decreased their target price on shares of Global Payments from $175.00 to $165.00 and set an “overweight” rating on the stock in a report on Monday, March 28th. Five investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $189.11.
Shares of NYSE GPN traded up $5.61 during mid-day trading on Monday, hitting $133.68. 2,096,354 shares of the company’s stock traded hands, compared to its average volume of 2,224,460. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.06 and a quick ratio of 1.06. Global Payments has a 1 year low of $116.75 and a 1 year high of $207.25. The company has a market capitalization of $37.66 billion, a P/E ratio of 36.70, a PEG ratio of 0.87 and a beta of 0.99. The company’s 50-day moving average is $134.71 and its two-hundred day moving average is $137.09.
In related news, Director William I. Jacobs sold 500 shares of the stock in a transaction on Tuesday, March 15th. The shares were sold at an average price of $127.99, for a total transaction of $63,995.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO David M. Sheffield sold 1,006 shares of the company’s stock in a transaction on Monday, February 28th. The stock was sold at an average price of $132.55, for a total transaction of $133,345.30. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,006 shares of company stock valued at $270,255. 1.19% of the stock is owned by company insiders.
A number of institutional investors have recently made changes to their positions in GPN. Bell Investment Advisors Inc increased its holdings in shares of Global Payments by 128.6% in the 4th quarter. Bell Investment Advisors Inc now owns 192 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 108 shares in the last quarter. Western Pacific Wealth Management LP purchased a new position in shares of Global Payments in the 4th quarter valued at about $29,000. Glassman Wealth Services increased its holdings in shares of Global Payments by 99.1% in the 4th quarter. Glassman Wealth Services now owns 225 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 112 shares in the last quarter. Capital Advisors Ltd. LLC increased its holdings in shares of Global Payments by 250.0% in the 4th quarter. Capital Advisors Ltd. LLC now owns 252 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 180 shares in the last quarter. Finally, Chilton Capital Management LLC purchased a new position in shares of Global Payments in the 4th quarter valued at about $41,000. Institutional investors own 84.53% of the company’s stock.
About Global Payments (Get Rating)
Global Payments Inc provides payment technology and software solutions for card, electronic, check, and digital-based payments in the Americas, Europe, and the Asia-Pacific. It operates through three segments: Merchant Solutions, Issuer Solutions, and Business and Consumer Solutions. The Merchant Solutions segment offers authorization services, settlement and funding services, customer support and help-desk functions, chargeback resolution, terminal rental, sales and deployment, payment security services, consolidated billing and statements, and on-line reporting services.
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