BMO Capital Markets Trims Global Payments (NYSE:GPN) Target Price to $128.00

Global Payments (NYSE:GPN) had its target price dropped by BMO Capital Markets from $143.00 to $128.00 in a research report issued on Thursday, Benzinga reports. The firm presently has a “market perform” rating on the business services provider’s stock. BMO Capital Markets’ price target indicates a potential upside of 14.93% from the stock’s previous close.

Several other equities research analysts have also issued reports on the stock. Mizuho reaffirmed a “neutral” rating and issued a $129.00 price objective on shares of Global Payments in a research note on Wednesday, March 27th. Susquehanna decreased their price target on Global Payments from $160.00 to $157.00 and set a “positive” rating for the company in a research note on Thursday. Evercore ISI cut their price objective on Global Payments from $185.00 to $180.00 and set an “outperform” rating on the stock in a research note on Thursday, February 15th. Wedbush boosted their target price on Global Payments from $130.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, January 10th. Finally, B. Riley increased their price target on Global Payments from $180.00 to $186.00 and gave the company a “buy” rating in a report on Monday, February 5th. 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $150.00.

Global Payments Stock Up 0.8 %

GPN stock traded up $0.83 during mid-day trading on Thursday, hitting $111.37. The stock had a trading volume of 3,191,218 shares, compared to its average volume of 2,029,470. Global Payments has a 1-year low of $95.12 and a 1-year high of $141.77. The company has a fifty day moving average of $127.93 and a 200 day moving average of $124.72. The company has a current ratio of 0.92, a quick ratio of 0.99 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $28.43 billion, a price-to-earnings ratio of 22.10, a PEG ratio of 0.71 and a beta of 0.97.

Global Payments (NYSE:GPN) last announced its quarterly earnings results on Wednesday, February 14th. The business services provider reported $2.65 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 return on equity of 11.72% and a net margin of 13.40%. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.30 EPS. On average, equities analysts expect that Global Payments will post 10.94 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BluePath Capital Management LLC acquired a new position in shares of Global Payments in the 3rd quarter worth approximately $27,000. Turtle Creek Wealth Advisors LLC acquired a new position in Global Payments during the fourth quarter worth $30,000. West Paces Advisors Inc. lifted its holdings in shares of Global Payments by 54.5% during the first quarter. West Paces Advisors Inc. now owns 309 shares of the business services provider’s stock valued at $41,000 after acquiring an additional 109 shares during the period. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Global Payments in the 4th quarter valued at $41,000. Finally, North Star Investment Management Corp. grew its holdings in shares of Global Payments by 154.7% in the 1st quarter. North Star Investment Management Corp. now owns 354 shares of the business services provider’s stock worth $47,000 after purchasing an additional 215 shares during the last quarter. Institutional investors own 89.76% of the company’s stock.

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.