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

Global Payments (NYSE:GPN) had its price objective cut by investment analysts at Royal Bank of Canada from $143.00 to $130.00 in a report released on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the business services provider’s stock. Royal Bank of Canada’s target price indicates a potential upside of 24.47% from the company’s previous close.

A number of other equities analysts also recently commented on the stock. Morgan Stanley reduced their target price on shares of Global Payments from $164.00 to $156.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 25th. JPMorgan Chase & Co. reduced their price target on shares of Global Payments from $118.00 to $115.00 and set a “neutral” rating on the stock in a research report on Tuesday. TD Cowen lowered their price objective on Global Payments from $125.00 to $122.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Susquehanna restated a “positive” rating and issued a $147.00 target price on shares of Global Payments in a research report on Tuesday, September 17th. Finally, BNP Paribas upgraded Global Payments to a “strong sell” rating in a report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, Global Payments has a consensus rating of “Moderate Buy” and a consensus price target of $136.50.

Global Payments Trading Up 0.7 %

Shares of Global Payments stock opened at $104.44 on Thursday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.93 and a quick ratio of 0.92. The stock’s 50 day simple moving average is $104.60 and its 200-day simple moving average is $104.24. The stock has a market cap of $26.57 billion, a P/E ratio of 19.67, a P/E/G ratio of 0.77 and a beta of 0.98. Global Payments has a 1-year low of $91.60 and a 1-year high of $141.77.

Global Payments (NYSE:GPN) last released its quarterly earnings data on Wednesday, August 7th. The business services provider reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.90 by $0.03. Global Payments had a return on equity of 11.94% and a net margin of 13.61%. The company had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.32 billion. During the same quarter in the previous year, the company posted $2.48 earnings per share. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. Analysts predict that Global Payments will post 11.05 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CAO David M. Sheffield sold 1,651 shares of Global Payments stock in a transaction dated 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 transaction, the chief accounting officer now owns 20,531 shares in the company, valued at approximately $2,068,087.63. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.98% of the stock is owned by company insiders.

Institutional Investors Weigh In On Global Payments

Institutional investors have recently modified their holdings of the company. Cromwell Holdings LLC acquired a new stake in Global Payments in the third quarter valued at $25,000. New Covenant Trust Company N.A. purchased a new position in shares of Global Payments in the 1st quarter valued at about $31,000. LRI Investments LLC acquired a new stake in shares of Global Payments during the 1st quarter worth about $32,000. POM Investment Strategies LLC purchased a new stake in Global Payments during the second quarter worth approximately $32,000. Finally, Capital Performance Advisors LLP acquired a new position in Global Payments in the third quarter valued at approximately $33,000. 89.76% of the stock is 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.