Global Payments (NYSE:GPN) Price Target Cut to $115.00 by Analysts at JPMorgan Chase & Co.

Global Payments (NYSE:GPN) had its target price reduced by investment analysts at JPMorgan Chase & Co. from $118.00 to $115.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the business services provider’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 11.25% from the company’s previous close.

Several other analysts also recently commented on GPN. KeyCorp dropped their target price on shares of Global Payments from $145.00 to $135.00 and set an “overweight” rating on the stock in a report on Wednesday, September 25th. Monness Crespi & Hardt dropped their price objective on shares of Global Payments from $165.00 to $155.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. TD Cowen reduced their target price on shares of Global Payments from $125.00 to $122.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Oppenheimer initiated coverage on Global Payments in a report on Tuesday, October 1st. They set a “market perform” rating for the company. Finally, Keefe, Bruyette & Woods cut their price target on Global Payments from $150.00 to $140.00 and set an “outperform” rating on the stock in a report on Monday, July 8th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $137.52.

Global Payments Trading Up 4.4 %

Shares of NYSE GPN opened at $103.37 on Tuesday. Global Payments has a twelve month low of $91.60 and a twelve month high of $141.77. The stock has a market cap of $26.39 billion, a price-to-earnings ratio of 20.51, a P/E/G ratio of 0.74 and a beta of 0.98. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.68. The company’s fifty day moving average is $104.84 and its 200-day moving average is $104.37.

Global Payments (NYSE:GPN) last posted its earnings results on Wednesday, August 7th. The business services provider reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.90 by $0.03. Global Payments had a return on equity of 11.93% and a net margin of 14.26%. The firm had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.32 billion. During the same period in the previous year, the company posted $2.48 earnings per share. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. Equities research analysts predict that Global Payments will post 11.06 EPS for the current year.

Insider Buying and Selling

In other news, CAO David M. Sheffield sold 1,651 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $100.73, for a total value of $166,305.23. Following the completion of the sale, the chief accounting officer now directly owns 20,531 shares of the company’s stock, valued at $2,068,087.63. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.98% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Global Payments

Several large investors have recently modified their holdings of the stock. Fidelis Capital Partners LLC boosted its holdings in shares of Global Payments by 5.1% during the 1st quarter. Fidelis Capital Partners LLC now owns 1,930 shares of the business services provider’s stock worth $258,000 after buying an additional 93 shares during the period. Allen Mooney & Barnes Investment Advisors LLC boosted its holdings in shares of Global Payments by 1.2% during the third quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 8,210 shares of the business services provider’s stock worth $841,000 after acquiring an additional 98 shares during the period. KFG Wealth Management LLC grew its position in shares of Global Payments by 6.4% in the first quarter. KFG Wealth Management LLC now owns 1,883 shares of the business services provider’s stock valued at $252,000 after purchasing an additional 114 shares during the last quarter. State of Alaska Department of Revenue increased its stake in shares of Global Payments by 0.5% during the first quarter. State of Alaska Department of Revenue now owns 28,253 shares of the business services provider’s stock worth $3,776,000 after purchasing an additional 135 shares during the period. Finally, Archford Capital Strategies LLC lifted its holdings in Global Payments by 1.2% during the 2nd quarter. Archford Capital Strategies LLC now owns 11,588 shares of the business services provider’s stock worth $1,121,000 after purchasing an additional 137 shares during the last quarter. 89.76% of the stock is owned by institutional investors.

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.