Evercore ISI Cuts Global Payments (NYSE:GPN) Price Target to $85.00

Global Payments (NYSE:GPN) had its price objective reduced by Evercore ISI from $90.00 to $85.00 in a research report issued to clients and investors on Tuesday,MarketScreener reports. Evercore ISI’s price objective would suggest a potential upside of 15.71% from the stock’s current price.

Several other research firms also recently issued reports on GPN. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Global Payments in a report on Wednesday, October 8th. B. Riley reissued a “buy” rating on shares of Global Payments in a report on Wednesday, July 16th. Truist Financial lowered their price target on Global Payments from $90.00 to $84.00 and set a “hold” rating on the stock in a research note on Thursday. Mizuho raised Global Payments from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $86.00 to $114.00 in a research note on Friday, July 25th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $105.00 target price on shares of Global Payments in a research note on Tuesday, November 4th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and fourteen have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $103.90.

Global Payments Trading Down 2.6%

Shares of Global Payments stock traded down $1.98 on Tuesday, hitting $73.46. 43,337 shares of the company traded hands, compared to its average volume of 2,645,562. The company has a market cap of $17.39 billion, a PE ratio of 12.97, a PEG ratio of 0.76 and a beta of 0.95. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. Global Payments has a 52 week low of $65.93 and a 52 week high of $120.00. The stock’s 50 day moving average price is $84.04 and its 200-day moving average price is $81.93.

Global Payments (NYSE:GPN) last issued its earnings results on Tuesday, November 4th. The business services provider reported $3.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.23 by $0.03. Global Payments had a net margin of 15.07% and a return on equity of 12.47%. The company had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.41 billion. During the same period in the prior year, the business earned $3.08 EPS. Global Payments has set its FY 2025 guidance at 6.600-6.666 EPS. Equities research analysts predict that Global Payments will post 11.89 EPS for the current year.

Insider Buying and Selling

In other Global Payments news, Director Patricia A. Watson acquired 1,331 shares of the stock in a transaction on Friday, November 7th. The shares were bought at an average price of $75.06 per share, with a total value of $99,904.86. Following the acquisition, the director owned 2,651 shares of the company’s stock, valued at $198,984.06. This trade represents a 100.83% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.01% of the stock is currently owned by insiders.

Institutional Trading of Global Payments

A number of institutional investors have recently modified their holdings of GPN. North Star Investment Management Corp. grew its holdings in shares of Global Payments by 242.2% during the third quarter. North Star Investment Management Corp. now owns 308 shares of the business services provider’s stock worth $26,000 after buying an additional 218 shares in the last quarter. Root Financial Partners LLC purchased a new stake in Global Payments in the 3rd quarter worth approximately $27,000. SouthState Bank Corp acquired a new position in Global Payments in the 3rd quarter valued at $28,000. REAP Financial Group LLC purchased a new position in shares of Global Payments during the 3rd quarter worth $28,000. Finally, LRI Investments LLC boosted its holdings in shares of Global Payments by 53.4% during the second quarter. LRI Investments LLC now owns 382 shares of the business services provider’s stock worth $31,000 after purchasing an additional 133 shares during the last quarter. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

About Global Payments

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.