Global Payments (NYSE:GPN) Downgraded by StockNews.com to “Hold”

Global Payments (NYSE:GPN) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

Several other equities research analysts have also recently commented on the stock. Seaport Res Ptn cut shares of Global Payments from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Barclays decreased 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. Oppenheimer began coverage on Global Payments in a research note on Tuesday, October 1st. They issued a “market perform” rating on the stock. 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 research report on Wednesday, September 25th. Finally, Royal Bank of Canada cut their price target on shares of Global Payments from $143.00 to $130.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, eleven have given a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $136.50.

Global Payments Price Performance

Global Payments stock opened at $114.72 on Wednesday. The business’s 50-day simple moving average is $105.48 and its 200 day simple moving average is $103.34. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.65. The stock has a market cap of $29.20 billion, a price-to-earnings ratio of 21.60, a P/E/G ratio of 0.89 and a beta of 0.97. Global Payments has a 12-month low of $91.60 and a 12-month high of $141.77.

Institutional Trading of Global Payments

A number of hedge funds and other institutional investors have recently modified their holdings of GPN. New Covenant Trust Company N.A. bought a new position in Global Payments in the first quarter valued at approximately $31,000. LRI Investments LLC acquired a new position in Global Payments during the first quarter worth $32,000. Cromwell Holdings LLC acquired a new position in Global Payments during the third quarter worth $25,000. Capital Performance Advisors LLP bought a new stake in Global Payments during the third quarter worth $33,000. Finally, POM Investment Strategies LLC acquired a new stake in Global Payments in the second quarter valued at $32,000. Institutional investors and hedge funds 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.