Global Payments (NYSE:GPN) Downgraded by Keefe, Bruyette & Woods to “Market Perform”

Global Payments (NYSE:GPN) was downgraded by stock analysts at Keefe, Bruyette & Woods from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Thursday, Marketbeat reports. They presently have a $78.00 price objective on the business services provider’s stock, down from their prior price objective of $135.00. Keefe, Bruyette & Woods’ price target points to a potential upside of 12.23% from the company’s previous close.

GPN has been the subject of several other reports. StockNews.com upgraded Global Payments from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. Barclays reduced their price objective on Global Payments from $125.00 to $110.00 and set an “overweight” rating on the stock in a research note on Tuesday. Evercore ISI began coverage on Global Payments in a research note on Wednesday, April 9th. They set an “in-line” rating and a $85.00 target price for the company. Citigroup reduced their price target on shares of Global Payments from $138.00 to $135.00 and set a “buy” rating on the stock in a research note on Tuesday, February 18th. Finally, Bank of America dropped their price objective on shares of Global Payments from $156.00 to $149.00 and set a “buy” rating for the company in a research note on Friday, February 14th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $124.73.

Global Payments Price Performance

Global Payments stock opened at $69.50 on Thursday. The stock’s fifty day moving average price is $95.50 and its two-hundred day moving average price is $104.88. The firm has a market cap of $17.09 billion, a PE ratio of 11.25, a price-to-earnings-growth ratio of 0.86 and a beta of 0.97. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.97 and a quick ratio of 0.93. Global Payments has a one year low of $68.48 and a one year high of $127.66.

Global Payments (NYSE:GPN) last posted its quarterly earnings data on Thursday, February 13th. The business services provider reported $2.84 earnings per share for the quarter, missing the consensus estimate of $2.98 by ($0.14). The firm had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.31 billion. Global Payments had a return on equity of 12.21% and a net margin of 15.54%. As a group, research analysts expect that Global Payments will post 11.89 EPS for the current fiscal year.

Institutional Trading of Global Payments

Several hedge funds have recently bought and sold shares of the business. Beaird Harris Wealth Management LLC bought a new position in shares of Global Payments in the third quarter valued at $25,000. Optiver Holding B.V. bought a new position in Global Payments in the 4th quarter valued at about $28,000. NBC Securities Inc. acquired a new position in Global Payments during the 1st quarter valued at about $30,000. Whipplewood Advisors LLC bought a new stake in Global Payments during the 4th quarter worth approximately $37,000. Finally, Quintet Private Bank Europe S.A. purchased a new stake in shares of Global Payments in the fourth quarter worth approximately $38,000. Institutional investors and hedge funds own 89.76% of the company’s stock.

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.