Global Payments (NYSE:GPN) Price Target Lowered to $119.00 at Oppenheimer

Global Payments (NYSE:GPN – Get Rating) had its price target dropped by equities researchers at Oppenheimer from $133.00 to $119.00 in a research report issued to clients and investors on Wednesday, The Fly reports. Oppenheimer’s price objective suggests a potential upside of 5.98% from the company’s previous close.

Several other brokerages have also recently commented on GPN. Susquehanna dropped their target price on Global Payments from $240.00 to $210.00 and set a “positive” rating on the stock in a report on Tuesday, November 1st. Wells Fargo & Company dropped their target price on Global Payments from $143.00 to $125.00 and set an “overweight” rating on the stock in a report on Monday, January 9th. StockNews.com initiated coverage on Global Payments in a report on Wednesday, October 12th. They set a “hold” rating on the stock. BNP Paribas cut Global Payments from a “neutral” rating to an “underperform” rating in a report on Tuesday, January 3rd. Finally, BMO Capital Markets dropped their target price on Global Payments from $232.00 to $224.00 and set an “outperform” rating on the stock in a report on Tuesday, November 1st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $151.29.

Global Payments Stock Performance

Shares of NYSE GPN opened at $112.29 on Wednesday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.54. The stock has a 50 day simple moving average of $101.30 and a 200-day simple moving average of $112.95. The company has a market cap of $30.36 billion, a PE ratio of 510.43, a P/E/G ratio of 0.75 and a beta of 0.99. Global Payments has a 12-month low of $92.27 and a 12-month high of $152.99.

Global Payments (NYSE:GPN – Get Rating) last issued its quarterly earnings data on Monday, October 31st. The business services provider reported $2.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.38 by ($0.01). The business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.04 billion. Global Payments had a return on equity of 9.85% and a net margin of 0.79%. The business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.00 earnings per share. On average, equities research analysts forecast that Global Payments will post 8.89 EPS for the current year.

Insider Activity

In related news, Director Robert H. B. Baldwin, Jr. purchased 3,400 shares of the stock in a transaction dated Monday, December 12th. The shares were acquired at an average cost of $98.62 per share, for a total transaction of $335,308.00. Following the acquisition, the director now directly owns 38,940 shares in the company, valued at approximately $3,840,262.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Global Payments news, Director M Troy Woods acquired 5,247 shares of the firm’s stock in a transaction that occurred on Friday, November 4th. The stock was purchased at an average cost of $95.26 per share, for a total transaction of $499,829.22. Following the completion of the acquisition, the director now owns 287,688 shares of the company’s stock, valued at approximately $27,405,158.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert H. B. Baldwin, Jr. acquired 3,400 shares of the firm’s stock in a transaction that occurred on Monday, December 12th. The stock was acquired at an average price of $98.62 per share, with a total value of $335,308.00. Following the completion of the acquisition, the director now directly owns 38,940 shares of the company’s stock, valued at approximately $3,840,262.80. The disclosure for this purchase can be found here. 1.19% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Global Payments

A number of large investors have recently bought and sold shares of the business. International Assets Investment Management LLC bought a new stake in Global Payments in the fourth quarter worth $811,000. Empirical Finance LLC lifted its position in Global Payments by 7.7% during the 4th quarter. Empirical Finance LLC now owns 7,640 shares of the business services provider’s stock worth $759,000 after acquiring an additional 545 shares during the last quarter. National Bank of Canada FI lifted its position in Global Payments by 3,458.7% during the 4th quarter. National Bank of Canada FI now owns 136,439 shares of the business services provider’s stock worth $13,551,000 after acquiring an additional 132,605 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its position in Global Payments by 25.7% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 465 shares of the business services provider’s stock worth $46,000 after acquiring an additional 95 shares during the last quarter. Finally, Park Avenue Securities LLC lifted its position in Global Payments by 18.0% during the 4th quarter. Park Avenue Securities LLC now owns 6,587 shares of the business services provider’s stock worth $654,000 after acquiring an additional 1,006 shares during the last quarter. 87.58% of the stock is currently owned by institutional investors.

Global Payments Company Profile

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Global Payments Inc provides payment technology and software solutions for card, electronic, check, and digital-based payments in the Americas, Europe, and the Asia-Pacific. It operates through three segments: Merchant Solutions, Issuer Solutions, and Business and Consumer Solutions. The Merchant Solutions segment offers authorization services, settlement and funding services, customer support and help-desk functions, chargeback resolution, terminal rental, sales and deployment, payment security services, consolidated billing and statements, and on-line reporting services.