Global Payments (NYSE:GPN) was upgraded by research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.
GPN has been the topic of a number of other reports. Robert W. Baird upped their price objective on Global Payments from $136.00 to $142.00 and gave the company an “outperform” rating in a report on Wednesday, October 17th. Goldman Sachs Group raised Global Payments from a “neutral” rating to a “buy” rating and upped their price objective for the company from $122.00 to $128.00 in a report on Tuesday, January 8th. Zacks Investment Research lowered Global Payments from a “hold” rating to a “sell” rating in a report on Wednesday, January 9th. Nomura reaffirmed a “sell” rating and issued a $91.00 price objective (down from $97.00) on shares of Global Payments in a report on Tuesday, December 18th. Finally, Piper Jaffray Companies cut their target price on Global Payments from $155.00 to $141.00 and set an “overweight” rating for the company in a research report on Friday, December 21st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $131.26.
NYSE GPN traded up $5.33 on Wednesday, reaching $122.75. The stock had a trading volume of 2,699,444 shares, compared to its average volume of 1,541,511. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.03 and a quick ratio of 1.03. Global Payments has a 1-year low of $94.81 and a 1-year high of $129.25. The firm has a market cap of $18.18 billion, a price-to-earnings ratio of 30.61, a P/E/G ratio of 1.12 and a beta of 1.15.
In other news, Director Robert H. B. Baldwin, Jr. sold 3,000 shares of the company’s stock in a transaction on Monday, January 14th. The stock was sold at an average price of $110.82, for a total transaction of $332,460.00. Following the completion of the sale, the director now directly owns 72,399 shares in the company, valued at approximately $8,023,257.18. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.98% of the company’s stock.
Several hedge funds have recently made changes to their positions in GPN. Boston Partners bought a new stake in shares of Global Payments during the 4th quarter worth $122,196,000. FMR LLC lifted its position in shares of Global Payments by 12.5% during the 2nd quarter. FMR LLC now owns 9,712,626 shares of the business services provider’s stock worth $1,082,860,000 after buying an additional 1,082,153 shares during the last quarter. Marshall Wace North America L.P. lifted its position in shares of Global Payments by 43.5% during the 3rd quarter. Marshall Wace North America L.P. now owns 2,162,102 shares of the business services provider’s stock worth $275,452,000 after buying an additional 655,495 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Global Payments by 14.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,520,530 shares of the business services provider’s stock worth $575,914,000 after buying an additional 581,025 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Global Payments by 9.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,447,043 shares of the business services provider’s stock worth $561,752,000 after buying an additional 449,751 shares during the last quarter. Institutional investors and hedge funds own 98.47% of the company’s stock.
Global Payments Company Profile
Global Payments Inc provides payment technology and software solutions for credit cards, debit cards, electronic payments, and check-related services. It 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, online reporting, industry compliance, and payment card industry security services.
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