Global Payments (NYSE:GPN) Upgraded by StockNews.com to Buy Rating

Global Payments (NYSE:GPN) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Thursday.

Several other brokerages also recently weighed in on GPN. BMO Capital Markets lowered their price target on Global Payments from $126.00 to $122.00 and set a “market perform” rating for the company in a report on Wednesday, September 25th. Barclays lifted their target price on shares of Global Payments from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Morgan Stanley raised their price target on shares of Global Payments from $156.00 to $166.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Sanford C. Bernstein downgraded shares of Global Payments from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $135.00 to $112.00 in a research note on Tuesday, October 22nd. Finally, B. Riley cut their target price on Global Payments from $204.00 to $194.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $135.71.

Global Payments Price Performance

Shares of GPN stock opened at $108.92 on Thursday. The company has a market cap of $27.72 billion, a P/E ratio of 20.51, a PEG ratio of 0.78 and a beta of 1.00. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.93 and a quick ratio of 0.93. The stock’s 50-day moving average is $113.40 and its 200 day moving average is $107.40. Global Payments has a 1-year low of $91.60 and a 1-year high of $141.77.

Insider Activity at Global Payments

In other Global Payments news, Director Robert H. B. Baldwin, Jr. bought 5,800 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were purchased at an average cost of $116.00 per share, for a total transaction of $672,800.00. Following the transaction, the director now directly owns 42,738 shares in the company, valued at $4,957,608. The trade was a 15.70 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.98% of the company’s stock.

Hedge Funds Weigh In On Global Payments

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GPN. Cromwell Holdings LLC purchased a new position in Global Payments during the 3rd quarter worth approximately $25,000. Beaird Harris Wealth Management LLC acquired a new stake in shares of Global Payments in the third quarter worth $25,000. Capital Performance Advisors LLP purchased a new position in shares of Global Payments during the third quarter valued at $33,000. Whittier Trust Co. of Nevada Inc. raised its position in Global Payments by 59.6% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 383 shares of the business services provider’s stock valued at $39,000 after buying an additional 143 shares during the period. Finally, Exchange Traded Concepts LLC acquired a new stake in Global Payments during the 3rd quarter worth about $50,000. 89.76% of the stock is owned by institutional investors.

Global Payments Company Profile

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.