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

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

Other equities analysts have also issued research reports about the stock. Susquehanna reissued a “positive” rating and issued a $147.00 price target on shares of Global Payments in a research report on Tuesday, September 17th. Oppenheimer started coverage on shares of Global Payments in a report on Tuesday, October 1st. They issued a “market perform” rating on the stock. Barclays upped their price target on shares of Global Payments from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Sanford C. Bernstein lowered Global Payments from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $135.00 to $112.00 in a research note on Tuesday, October 22nd. Finally, 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 note on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Global Payments currently has an average rating of “Moderate Buy” and a consensus price target of $138.55.

Global Payments Stock Up 1.0 %

Shares of NYSE GPN traded up $1.17 during mid-day trading on Wednesday, reaching $112.98. 439,199 shares of the company traded hands, compared to its average volume of 2,249,332. The company’s fifty day moving average is $111.45 and its two-hundred day moving average is $105.25. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.93 and a current ratio of 0.93. Global Payments has a fifty-two week low of $91.60 and a fifty-two week high of $141.77. The stock has a market cap of $28.75 billion, a PE ratio of 21.28, a price-to-earnings-growth ratio of 0.90 and a beta of 1.00.

Insider Transactions at Global Payments

In other Global Payments news, Director Robert H. B. Baldwin, Jr. acquired 5,800 shares of the business’s stock in a transaction on Friday, December 13th. The stock was purchased at an average price of $116.00 per share, for a total transaction of $672,800.00. Following the transaction, the director now owns 42,738 shares in the company, valued at $4,957,608. This trade represents a 15.70 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.98% of the stock is owned by insiders.

Institutional Trading of Global Payments

A number of hedge funds and other institutional investors have recently made changes to their positions in GPN. Cromwell Holdings LLC bought a new position in Global Payments in the 3rd quarter worth approximately $25,000. Beaird Harris Wealth Management LLC bought a new stake in shares of Global Payments during the third quarter worth $25,000. Capital Performance Advisors LLP acquired a new position in shares of Global Payments during the third quarter valued at $33,000. Whittier Trust Co. of Nevada Inc. boosted its holdings in Global Payments by 59.6% in 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 acquiring an additional 143 shares during the last quarter. Finally, Quarry LP increased its position in Global Payments by 134.4% in the second quarter. Quarry LP now owns 511 shares of the business services provider’s stock worth $49,000 after purchasing an additional 293 shares during the period. 89.76% of the stock is currently owned by institutional investors and hedge funds.

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.