Global Payments (NYSE:GPN) Price Target Lowered to $130.00 at Royal Bank of Canada

Global Payments (NYSE:GPN) had its target price dropped by investment analysts at Royal Bank of Canada from $143.00 to $130.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the business services provider’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 24.83% from the stock’s current price.

A number of other research firms have also recently weighed in on GPN. Susquehanna reaffirmed a “positive” rating and set a $147.00 price target on shares of Global Payments in a report on Tuesday, September 17th. Monness Crespi & Hardt dropped their price target on Global Payments from $165.00 to $155.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. BTIG Research cut Global Payments from a “buy” rating to a “neutral” rating in a research note on Wednesday, September 25th. William Blair cut Global Payments from an “outperform” rating to a “market perform” rating in a research note on Wednesday, September 25th. Finally, KeyCorp lowered their target price on Global Payments from $145.00 to $135.00 and set an “overweight” rating for the company in a research note on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $136.96.

Global Payments Price Performance

Shares of GPN traded up $0.81 during midday trading on Thursday, reaching $104.14. The stock had a trading volume of 1,854,824 shares, compared to its average volume of 2,267,958. Global Payments has a 52 week low of $91.60 and a 52 week high of $141.77. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.92 and a quick ratio of 0.92. The firm’s 50 day moving average price is $104.84 and its 200-day moving average price is $104.37. The company has a market capitalization of $26.58 billion, a P/E ratio of 20.66, a P/E/G ratio of 0.74 and a beta of 0.98.

Global Payments (NYSE:GPN) last released its quarterly earnings results on Wednesday, August 7th. The business services provider reported $2.93 earnings per share (EPS) 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 company had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter in the prior year, the company posted $2.48 EPS. The firm’s revenue was up 4.7% on a year-over-year basis. On average, analysts forecast that Global Payments will post 11.06 earnings per share for the current fiscal year.

Insider Transactions at Global Payments

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 shares were sold at an average price of $100.73, for a total transaction of $166,305.23. Following the completion of the sale, the chief accounting officer now owns 20,531 shares in the company, valued at $2,068,087.63. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.98% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Fidelis Capital Partners LLC lifted 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 acquiring an additional 93 shares during the last quarter. Allen Mooney & Barnes Investment Advisors LLC grew its holdings in Global Payments by 1.2% in 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 purchasing an additional 98 shares during the period. State of Alaska Department of Revenue lifted its stake in shares of Global Payments by 0.5% in 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 buying an additional 135 shares in the last quarter. Archford Capital Strategies LLC lifted its position in Global Payments by 1.2% during the second quarter. Archford Capital Strategies LLC now owns 11,588 shares of the business services provider’s stock valued at $1,121,000 after purchasing an additional 137 shares during the period. Finally, Paloma Partners Management Co lifted its position in Global Payments by 4.5% during the first quarter. Paloma Partners Management Co now owns 3,180 shares of the business services provider’s stock valued at $425,000 after purchasing an additional 138 shares during the period. 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.