Global Payments (NYSE:GPN) PT Lowered to $165.00 at Monness Crespi & Hardt

Global Payments (NYSE:GPN) had its price target lowered by equities researchers at Monness Crespi & Hardt from $175.00 to $165.00 in a note issued to investors on Friday, Marketbeat Ratings reports. The brokerage currently has a “buy” rating on the business services provider’s stock. Monness Crespi & Hardt’s target price suggests a potential upside of 48.15% from the company’s previous close.

Several other research firms have also recently issued reports on GPN. Morgan Stanley increased their price objective on shares of Global Payments from $160.00 to $164.00 and gave the company an “overweight” rating in a report on Thursday. StockNews.com cut shares of Global Payments from a “buy” rating to a “hold” rating in a report on Thursday. Keefe, Bruyette & Woods decreased their price objective on shares of Global Payments from $158.00 to $150.00 and set an “outperform” rating for the company in a report on Thursday. UBS Group raised their target price on shares of Global Payments from $130.00 to $145.00 and gave the stock a “neutral” rating in a report on Thursday, February 15th. Finally, TheStreet upgraded shares of Global Payments from a “c” rating to a “b-” rating in a report on Thursday, February 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $150.00.

Global Payments Stock Performance

Shares of NYSE:GPN traded up $0.83 during trading hours on Friday, hitting $111.37. The stock had a trading volume of 3,191,218 shares, compared to its average volume of 2,029,470. The stock’s fifty day simple moving average is $127.50 and its 200 day simple moving average is $124.69. Global Payments has a 1-year low of $95.12 and a 1-year high of $141.77. The firm has a market capitalization of $28.43 billion, a price-to-earnings ratio of 22.10, a PEG ratio of 0.72 and a beta of 0.97. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.99 and a current ratio of 0.92.

Global Payments (NYSE:GPN) last posted its quarterly earnings data on Wednesday, February 14th. The business services provider reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.64 by $0.01. The business had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.18 billion. Global Payments had a net margin of 13.40% and a return on equity of 11.72%. The business’s revenue was up 7.9% on a year-over-year basis. During the same period last year, the firm posted $2.30 earnings per share. Sell-side analysts anticipate that Global Payments will post 10.95 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Global Payments

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GPN. BluePath Capital Management LLC purchased a new stake in Global Payments in the 3rd quarter worth approximately $27,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Global Payments in the 4th quarter worth approximately $30,000. McGlone Suttner Wealth Management Inc. purchased a new stake in Global Payments in the 4th quarter worth approximately $41,000. West Paces Advisors Inc. lifted its position in Global Payments by 54.5% in the 1st quarter. West Paces Advisors Inc. now owns 309 shares of the business services provider’s stock worth $41,000 after buying an additional 109 shares in the last quarter. Finally, Parkside Financial Bank & Trust raised its holdings in shares of Global Payments by 77.7% during the 3rd quarter. Parkside Financial Bank & Trust now owns 407 shares of the business services provider’s stock valued at $47,000 after purchasing an additional 178 shares in the last quarter. Hedge funds and other 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.