Nomura Increases Global Payments (GPN) Price Target to $94.00

Global Payments (NYSE:GPN) had its target price raised by Nomura from $91.00 to $94.00 in a research note issued to investors on Monday. The firm presently has a “reduce” rating on the business services provider’s stock. Nomura’s target price would suggest a potential downside of 19.24% from the stock’s previous close.

GPN has been the subject of several other research reports. Guggenheim downgraded shares of Global Payments from a “buy” rating to a “neutral” rating in a report on Monday, November 5th. KeyCorp cut their price target on shares of Global Payments from $135.00 to $130.00 and set an “overweight” rating for the company in a report on Wednesday, January 2nd. Robert W. Baird upped their price target on shares of Global Payments from $136.00 to $142.00 and gave the company an “outperform” rating in a report on Wednesday, October 17th. Barclays began coverage on shares of Global Payments in a report on Wednesday, November 14th. They issued an “overweight” rating and a $136.00 price target for the company. Finally, Piper Jaffray Companies cut their price target on shares of Global Payments from $155.00 to $141.00 and set an “overweight” rating for the company in a report on Friday, December 21st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Global Payments has a consensus rating of “Buy” and an average target price of $131.26.

GPN stock traded up $1.50 during trading on Monday, hitting $116.40. The company had a trading volume of 756,506 shares, compared to its average volume of 1,445,459. The company has a market capitalization of $18.18 billion, a P/E ratio of 29.03, a PEG ratio of 1.12 and a beta of 1.15. Global Payments has a fifty-two week low of $94.81 and a fifty-two week high of $129.25. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.13.

In other Global Payments news, Director Robert H. B. Baldwin, Jr. sold 3,000 shares of the business’s stock in a transaction dated Friday, December 14th. The stock was sold at an average price of $102.02, for a total transaction of $306,060.00. Following the sale, the director now owns 74,899 shares in the company, valued at approximately $7,641,195.98. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Alan M. Silberstein sold 700 shares of the business’s stock in a transaction dated Wednesday, November 14th. The stock was sold at an average price of $109.66, for a total value of $76,762.00. Following the sale, the director now owns 42,169 shares in the company, valued at approximately $4,624,252.54. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,700 shares of company stock worth $715,282. Corporate insiders own 0.98% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of GPN. Millennium Management LLC grew its position in shares of Global Payments by 72.2% in the 2nd quarter. Millennium Management LLC now owns 22,870 shares of the business services provider’s stock valued at $2,550,000 after buying an additional 9,588 shares during the last quarter. Advisors Asset Management Inc. grew its position in shares of Global Payments by 15.1% in the 2nd quarter. Advisors Asset Management Inc. now owns 28,716 shares of the business services provider’s stock valued at $3,202,000 after buying an additional 3,772 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Global Payments by 1.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,077,382 shares of the business services provider’s stock valued at $120,117,000 after buying an additional 11,189 shares during the last quarter. FMR LLC grew its position in shares of Global Payments by 12.5% in the 2nd quarter. FMR LLC now owns 9,712,626 shares of the business services provider’s stock valued at $1,082,860,000 after buying an additional 1,082,153 shares during the last quarter. Finally, Atria Investments LLC grew its position in shares of Global Payments by 5.6% in the 3rd quarter. Atria Investments LLC now owns 8,156 shares of the business services provider’s stock valued at $1,039,000 after buying an additional 431 shares during the last quarter. Institutional investors own 98.47% of the company’s stock.

About Global Payments

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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Analyst Recommendations for Global Payments (NYSE:GPN)

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