StockNews.com Downgrades Global Payments (NYSE:GPN) to Hold

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

GPN has been the topic of several other reports. The Goldman Sachs Group raised their target price on shares of Global Payments from $135.00 to $155.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Morgan Stanley lifted their price target on shares of Global Payments from $156.00 to $166.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Oppenheimer began coverage on Global Payments in a report on Tuesday, October 1st. They set a “market perform” rating for the company. Susquehanna reaffirmed a “positive” rating and issued a $147.00 target price on shares of Global Payments in a research report on Tuesday, September 17th. Finally, TD Cowen lowered their price target on Global Payments from $125.00 to $122.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $138.55.

Global Payments Stock Performance

NYSE GPN opened at $111.90 on Friday. The business’s 50-day moving average price is $113.09 and its 200 day moving average price is $105.93. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65. Global Payments has a twelve month low of $91.60 and a twelve month high of $141.77. The company has a market capitalization of $28.48 billion, a PE ratio of 21.07, a price-to-earnings-growth ratio of 0.90 and a beta of 1.00.

Insider Buying and Selling at Global Payments

In other news, Director Robert H. B. Baldwin, Jr. acquired 5,800 shares of the business’s stock in a transaction on Friday, December 13th. The shares were purchased at an average price of $116.00 per share, for a total transaction of $672,800.00. Following the completion of the purchase, the director now directly owns 42,738 shares of the company’s stock, valued at $4,957,608. This represents a 15.70 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.98% of the stock is owned by insiders.

Institutional Investors Weigh In On Global Payments

Institutional investors have recently made changes to their positions in the company. Cromwell Holdings LLC bought a new position in Global Payments in the third quarter worth about $25,000. Beaird Harris Wealth Management LLC bought a new stake in shares of Global Payments in the 3rd quarter worth approximately $25,000. Capital Performance Advisors LLP acquired a new position in Global Payments during the 3rd quarter valued at approximately $33,000. Whittier Trust Co. of Nevada Inc. grew its stake in Global Payments by 59.6% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 383 shares of the business services provider’s stock worth $39,000 after buying an additional 143 shares during the last quarter. Finally, Exchange Traded Concepts LLC acquired a new stake in Global Payments in the third quarter worth $50,000. 89.76% of the stock is currently owned by institutional investors.

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.