Global Payments (NYSE:GPN) Upgraded to Buy at StockNews.com

Global Payments (NYSE:GPN) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Tuesday.

GPN has been the subject of a number of other reports. BTIG Research cut Global Payments from a “buy” rating to a “neutral” rating in a research note on Wednesday, September 25th. Barclays dropped their price objective on Global Payments from $145.00 to $120.00 and set an “overweight” rating for the company in a research note on Monday, September 30th. TD Cowen decreased their target price on Global Payments from $125.00 to $122.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Sanford C. Bernstein lowered Global Payments from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $135.00 to $112.00 in a report on Tuesday, October 22nd. Finally, BMO Capital Markets decreased their target price on Global Payments from $126.00 to $122.00 and set a “market perform” rating for the company in a report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $136.50.

Global Payments Trading Up 0.8 %

GPN stock traded up $0.95 during trading on Tuesday, reaching $116.36. 2,742,039 shares of the stock were exchanged, compared to its average volume of 2,302,087. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $29.61 billion, a price-to-earnings ratio of 21.91, a P/E/G ratio of 0.85 and a beta of 0.97. The business has a 50 day moving average price of $104.69 and a 200-day moving average price of $103.40. Global Payments has a 1 year low of $91.60 and a 1 year high of $141.77.

Institutional Investors Weigh In On Global Payments

A number of institutional investors and hedge funds have recently modified their holdings of the company. Pzena Investment Management LLC lifted its stake in Global Payments by 3.4% in the 3rd quarter. Pzena Investment Management LLC now owns 6,638,862 shares of the business services provider’s stock valued at $679,952,000 after buying an additional 215,399 shares in the last quarter. Boston Partners lifted its stake in Global Payments by 0.3% in the 1st quarter. Boston Partners now owns 4,797,677 shares of the business services provider’s stock valued at $639,967,000 after buying an additional 12,196 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Global Payments by 65.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,982,496 shares of the business services provider’s stock valued at $203,047,000 after buying an additional 785,539 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Global Payments by 10.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,957,914 shares of the business services provider’s stock valued at $189,307,000 after buying an additional 193,137 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Global Payments by 3.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,541,541 shares of the business services provider’s stock valued at $157,885,000 after buying an additional 44,296 shares in the last quarter. Institutional investors and hedge funds own 89.76% of the company’s stock.

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.