KeyCorp Cuts Global Payments (NYSE:GPN) Price Target to $135.00

Global Payments (NYSE:GPN) had its price objective reduced by research analysts at KeyCorp from $145.00 to $135.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the business services provider’s stock. KeyCorp’s price target points to a potential upside of 38.22% from the company’s current price.

A number of other research analysts also recently commented on GPN. BNP Paribas upgraded Global Payments to a “strong sell” rating in a report on Wednesday, September 4th. William Blair cut shares of Global Payments from an “outperform” rating to a “market perform” rating in a report on Wednesday. Evercore ISI lowered their target price on shares of Global Payments from $170.00 to $160.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. Susquehanna reiterated a “positive” rating and set a $147.00 price target on shares of Global Payments in a research note on Tuesday, September 17th. Finally, BTIG Research cut shares of Global Payments from a “buy” rating to a “neutral” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Global Payments has an average rating of “Moderate Buy” and an average target price of $141.36.

Global Payments Stock Up 0.6 %

Shares of Global Payments stock opened at $97.67 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.68. Global Payments has a 52-week low of $91.60 and a 52-week high of $141.77. The company has a market capitalization of $24.93 billion, a P/E ratio of 19.38, a P/E/G ratio of 0.71 and a beta of 0.98. The company has a 50 day moving average of $105.63 and a 200 day moving average of $109.61.

Global Payments (NYSE:GPN) last released its quarterly earnings data 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. The business had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.32 billion. Global Payments had a net margin of 14.26% and a return on equity of 11.93%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the company earned $2.48 EPS. As a group, research analysts forecast that Global Payments will post 11.07 EPS for the current fiscal year.

Insider Transactions at Global Payments

In related news, CAO David M. Sheffield sold 1,651 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $100.73, for a total value 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. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.98% of the company’s stock.

Institutional Trading of Global Payments

Several hedge funds have recently modified their holdings of the business. Fidelis Capital Partners LLC grew its holdings in Global Payments by 5.1% during the first 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 period. Oliver Luxxe Assets LLC boosted its position in shares of Global Payments by 0.3% during the 1st quarter. Oliver Luxxe Assets LLC now owns 34,435 shares of the business services provider’s stock worth $4,603,000 after purchasing an additional 108 shares in the last quarter. West Paces Advisors Inc. grew its stake in shares of Global Payments by 54.5% during the 1st quarter. West Paces Advisors Inc. now owns 309 shares of the business services provider’s stock worth $41,000 after purchasing an additional 109 shares during the period. KFG Wealth Management LLC increased its holdings in shares of Global Payments by 6.4% in the 1st quarter. KFG Wealth Management LLC now owns 1,883 shares of the business services provider’s stock valued at $252,000 after purchasing an additional 114 shares in the last quarter. Finally, Wedmont Private Capital lifted its stake in shares of Global Payments by 0.9% in the first quarter. Wedmont Private Capital now owns 13,859 shares of the business services provider’s stock valued at $1,776,000 after purchasing an additional 119 shares during the period. 89.76% of the stock is owned by institutional investors and hedge funds.

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.