Global Payments (NYSE:GPN) Given New $90.00 Price Target at JPMorgan Chase & Co.

Global Payments (NYSE:GPN) had its target price trimmed by JPMorgan Chase & Co. from $95.00 to $90.00 in a research note released on Thursday, Marketbeat.com reports. The brokerage currently has a neutral rating on the business services provider’s stock.

Several other equities analysts also recently issued reports on the stock. Citigroup upgraded shares of Global Payments to a “strong-buy” rating in a research note on Thursday, October 23rd. Rothschild & Co Redburn upped their target price on Global Payments from $65.00 to $70.00 and gave the company a “sell” rating in a research report on Wednesday, December 3rd. Cantor Fitzgerald upgraded Global Payments to a “hold” rating in a research note on Tuesday, January 27th. Jefferies Financial Group reduced their price objective on Global Payments from $85.00 to $75.00 and set a “hold” rating for the company in a research note on Monday, November 24th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Global Payments in a report on Wednesday, January 14th. They issued a “hold” rating and a $80.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $97.59.

Global Payments Stock Down 4.5%

GPN stock opened at $68.94 on Thursday. The stock has a market cap of $16.32 billion, a P/E ratio of 9.68, a PEG ratio of 0.47 and a beta of 0.76. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.57. Global Payments has a twelve month low of $65.93 and a twelve month high of $108.78. The company’s 50 day moving average is $76.58 and its two-hundred day moving average is $80.69.

Insider Buying and Selling

In other news, EVP David M. Sheffield sold 2,016 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $81.41, for a total value of $164,122.56. Following the completion of the sale, the executive vice president directly owned 14,438 shares of the company’s stock, valued at $1,175,397.58. This trade represents a 12.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider David Lawrence Green sold 11,600 shares of the company’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $79.99, for a total value of $927,884.00. Following the transaction, the insider directly owned 68,096 shares in the company, valued at $5,446,999.04. This represents a 14.56% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.01% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Global Payments

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Global Payments by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 23,542,460 shares of the business services provider’s stock valued at $1,955,908,000 after purchasing an additional 149,441 shares in the last quarter. Pzena Investment Management LLC increased its holdings in Global Payments by 4.6% in the fourth quarter. Pzena Investment Management LLC now owns 11,409,697 shares of the business services provider’s stock valued at $883,111,000 after buying an additional 500,887 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Global Payments by 7.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 7,349,876 shares of the business services provider’s stock valued at $610,633,000 after acquiring an additional 499,695 shares during the period. Glenview Capital Management LLC boosted its stake in shares of Global Payments by 13.8% during the 2nd quarter. Glenview Capital Management LLC now owns 4,316,892 shares of the business services provider’s stock worth $345,524,000 after acquiring an additional 523,209 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Global Payments in the 4th quarter worth approximately $276,014,000. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

About Global Payments

Global Payments Inc (NYSE: GPN) is a worldwide provider of payment technology and software solutions that enables commerce for merchants, issuers and enterprises. The company develops and operates payment processing networks, point-of-sale systems and cloud-based software that facilitate electronic transactions across in-store, online and mobile channels. Its services span merchant acquiring, payment gateway services, omnichannel commerce platforms, and solutions for recurring and subscription billing.

Global Payments offers a range of products and services including integrated payment terminals and point-of-sale software, e-commerce and gateway technologies, fraud prevention and tokenization tools, and business analytics and reporting.