KeyCorp Trims Global Payments (NYSE:GPN) Target Price to $145.00

Global Payments (NYSE:GPN) had its price objective decreased by equities research analysts at KeyCorp from $155.00 to $145.00 in a research report issued on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the business services provider’s stock. KeyCorp’s target price would suggest a potential upside of 32.26% from the company’s previous close.

Other research analysts also recently issued reports about the company. UBS Group upped their price target on Global Payments from $130.00 to $145.00 and gave the stock a “neutral” rating in a research note on Thursday, February 15th. Susquehanna decreased their price target on shares of Global Payments from $160.00 to $157.00 and set a “positive” rating on the stock in a research note on Thursday. BMO Capital Markets cut their price objective on Global Payments from $143.00 to $128.00 and set a “market perform” rating for the company in a research report on Thursday. TheStreet raised shares of Global Payments from a “c” rating to a “b-” rating in a report on Thursday, February 1st. Finally, Robert W. Baird decreased their price target on Global Payments from $182.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $149.85.

Global Payments Stock Performance

Global Payments stock traded up $0.57 during midday trading on Thursday, reaching $109.63. 2,080,608 shares of the company traded hands, compared to its average volume of 2,245,946. Global Payments has a 12 month low of $95.12 and a 12 month high of $141.77. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.99 and a quick ratio of 0.99. The business has a 50 day moving average of $128.37 and a two-hundred day moving average of $124.82. The firm has a market capitalization of $27.97 billion, a price-to-earnings ratio of 28.98, a price-to-earnings-growth ratio of 0.79 and a beta of 0.97.

Global Payments (NYSE:GPN) last released its quarterly earnings results on Wednesday, February 14th. The business services provider reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.64 by $0.01. The firm had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.18 billion. Global Payments had a return on equity of 11.44% and a net margin of 10.22%. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period last year, the business posted $2.30 EPS. As a group, research analysts predict that Global Payments will post 10.94 earnings per share for the current year.

Institutional Trading of Global Payments

Hedge funds and other institutional investors have recently bought and sold shares of the business. BluePath Capital Management LLC bought a new stake in shares of Global Payments in the 3rd quarter valued at approximately $27,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Global Payments in the 4th quarter valued at approximately $30,000. McGlone Suttner Wealth Management Inc. acquired a new position in Global Payments during the 4th quarter valued at about $41,000. West Paces Advisors Inc. increased its stake 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. Finally, Parkside Financial Bank & Trust increased its stake in Global Payments by 77.7% in the 3rd quarter. Parkside Financial Bank & Trust now owns 407 shares of the business services provider’s stock worth $47,000 after purchasing an additional 178 shares in the last quarter. 89.76% of the stock is currently owned by institutional investors and hedge funds.

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.