Global Payments (NYSE:GPN) Price Target Cut to $194.00

Global Payments (NYSE:GPN) had its price objective reduced by research analysts at B. Riley from $204.00 to $194.00 in a report issued on Wednesday, Marketbeat reports. The firm currently has a “buy” rating on the business services provider’s stock. B. Riley’s price target indicates a potential upside of 98.63% from the company’s current price. B. Riley also issued estimates for Global Payments’ FY2025 earnings at $12.20 EPS.

Several other brokerages also recently weighed in on GPN. StockNews.com upgraded Global Payments from a “hold” rating to a “buy” rating in a research note on Wednesday, September 18th. BTIG Research cut Global Payments from a “buy” rating to a “neutral” rating in a research report on Wednesday. KeyCorp lowered their price objective on shares of Global Payments from $145.00 to $135.00 and set an “overweight” rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. upped their target price on shares of Global Payments from $111.00 to $118.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Global Payments from $150.00 to $140.00 and set an “outperform” rating on the stock in a research report on Monday, July 8th. 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. According to MarketBeat.com, Global Payments currently has an average rating of “Moderate Buy” and an average price target of $141.36.

Global Payments Trading Up 0.6 %

NYSE:GPN opened at $97.67 on Wednesday. The company’s 50 day moving average is $105.63 and its 200-day moving average is $109.61. 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 12 month low of $91.60 and a 12 month high of $141.77. The firm has a market cap of $24.93 billion, a price-to-earnings ratio of 19.38, a P/E/G ratio of 0.71 and a beta of 0.98.

Global Payments (NYSE:GPN) last announced its earnings results on Wednesday, August 7th. The business services provider reported $2.93 EPS for the quarter, topping the consensus estimate of $2.90 by $0.03. Global Payments had a net margin of 14.26% and a return on equity of 11.93%. The firm had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter last year, the firm posted $2.48 EPS. The business’s quarterly revenue was up 4.7% on a year-over-year basis. Equities analysts anticipate that Global Payments will post 11.07 EPS for the current year.

Insider Buying and Selling

In other Global Payments news, CAO David M. Sheffield sold 1,651 shares of the business’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 transaction, the chief accounting officer now directly owns 20,531 shares in the company, valued at $2,068,087.63. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.98% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of GPN. Pzena Investment Management LLC increased its holdings in Global Payments by 194.2% during the 2nd quarter. Pzena Investment Management LLC now owns 6,423,463 shares of the business services provider’s stock valued at $621,149,000 after purchasing an additional 4,240,388 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Global Payments by 188.1% during the second quarter. AQR Capital Management LLC now owns 1,157,728 shares of the business services provider’s stock worth $109,857,000 after purchasing an additional 755,898 shares during the last quarter. Kodai Capital Management LP bought a new stake in shares of Global Payments during the fourth quarter worth $69,029,000. Natixis increased its stake in shares of Global Payments by 830.2% in the first quarter. Natixis now owns 589,520 shares of the business services provider’s stock valued at $78,795,000 after buying an additional 526,143 shares in the last quarter. Finally, Lord Abbett & CO. LLC raised its holdings in shares of Global Payments by 267.0% in the first quarter. Lord Abbett & CO. LLC now owns 677,854 shares of the business services provider’s stock valued at $90,602,000 after buying an additional 493,164 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.