Global Payments (NYSE:GPN) Downgraded by StockNews.com to “Hold”

Global Payments (NYSE:GPN) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

A number of other equities analysts have also recently weighed in on GPN. Royal Bank of Canada lowered their price target on Global Payments from $143.00 to $130.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Susquehanna reiterated a “positive” rating and set a $147.00 price target on shares of Global Payments in a research report on Tuesday, September 17th. Oppenheimer began coverage on shares of Global Payments in a report on Tuesday, October 1st. They issued a “market perform” rating on the stock. BMO Capital Markets dropped their target price on shares of Global Payments from $126.00 to $122.00 and set a “market perform” rating for the company in a report on Wednesday, September 25th. Finally, BNP Paribas upgraded Global Payments to a “strong sell” rating in a research note on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $138.55.

Global Payments Trading Up 0.7 %

Shares of Global Payments stock opened at $113.76 on Wednesday. The stock has a 50 day moving average of $111.92 and a 200 day moving average of $105.36. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a market capitalization of $28.95 billion, a price-to-earnings ratio of 21.42, a PEG ratio of 0.90 and a beta of 1.00. Global Payments has a fifty-two week low of $91.60 and a fifty-two week high of $141.77.

Insider Buying and Selling

In other Global Payments news, Director Robert H. B. Baldwin, Jr. bought 5,800 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was purchased at an average price of $116.00 per share, for a total transaction of $672,800.00. Following the completion of the purchase, the director now directly owns 42,738 shares in the company, valued at $4,957,608. This trade represents a 15.70 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.98% of the company’s stock.

Hedge Funds Weigh In On Global Payments

Several hedge funds have recently added to or reduced their stakes in GPN. Pzena Investment Management LLC boosted its holdings in shares of Global Payments by 194.2% in the 2nd quarter. Pzena Investment Management LLC now owns 6,423,463 shares of the business services provider’s stock valued at $621,149,000 after buying an additional 4,240,388 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Global Payments by 65.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,982,496 shares of the business services provider’s stock valued at $203,047,000 after acquiring an additional 785,539 shares during the last quarter. AQR Capital Management LLC boosted its stake in Global Payments by 188.1% in the second quarter. AQR Capital Management LLC now owns 1,157,728 shares of the business services provider’s stock valued at $109,857,000 after acquiring an additional 755,898 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of Global Payments by 22.7% during the third quarter. Janus Henderson Group PLC now owns 2,646,854 shares of the business services provider’s stock worth $271,090,000 after purchasing an additional 490,411 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. increased its position in shares of Global Payments by 316.7% during the second quarter. D. E. Shaw & Co. Inc. now owns 609,939 shares of the business services provider’s stock worth $58,981,000 after purchasing an additional 463,568 shares in the last quarter. 89.76% of the stock is currently owned by hedge funds and other 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.