Citigroup Lowers Global Payments (NYSE:GPN) Price Target to $180.00

Global Payments (NYSE:GPNGet 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.

Global Payments (NYSE:GPNGet Rating) last released its quarterly earnings data on Monday, May 2nd. The business services provider reported $2.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.04 by $0.03. Global Payments had a net margin of 11.33% and a return on equity of 8.51%. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $1.95 billion. During the same period last year, the firm earned $1.72 earnings per share. The company’s quarterly revenue was up 8.3% on a year-over-year basis. Equities analysts anticipate that Global Payments will post 9.03 EPS for the current fiscal year.

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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