JPMorgan Chase & Co. Lowers Global Payments (NYSE:GPN) Price Target to $85.00

Global Payments (NYSE:GPN - Get Free Report) had its price target reduced by equities researchers at JPMorgan Chase & Co. from $115.00 to $85.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a "neutral" rating on the business services provider's stock. JPMorgan Chase & Co.'s price target would suggest a potential upside of 2.74% from the company's previous close.

A number of other research analysts have also recently issued reports on the stock. Williams Trading set a $75.00 price target on shares of Global Payments in a report on Friday, April 18th. Royal Bank of Canada lowered Global Payments from an "outperform" rating to a "sector perform" rating and set a $86.00 target price for the company. in a research note on Friday, April 25th. Barclays dropped their price target on Global Payments from $125.00 to $110.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 15th. Wolfe Research reissued a "peer perform" rating on shares of Global Payments in a report on Wednesday, April 23rd. Finally, Citigroup reiterated a "buy" rating on shares of Global Payments in a report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $112.09.

Global Payments Stock Up 2.8%

Shares of NYSE GPN traded up $2.24 during trading hours on Wednesday, hitting $82.74. 1,297,754 shares of the stock were exchanged, compared to its average volume of 2,421,815. The company has a market cap of $20.34 billion, a PE ratio of 13.40, a PEG ratio of 0.86 and a beta of 0.96. Global Payments has a 12 month low of $65.93 and a 12 month high of $120.00. The company has a quick ratio of 0.93, a current ratio of 0.97 and a debt-to-equity ratio of 0.66. The firm has a fifty day moving average price of $86.87 and a 200-day moving average price of $102.39.

Global Payments (NYSE:GPN - Get Free Report) last announced its earnings results on Tuesday, May 6th. The business services provider reported $2.82 earnings per share for the quarter, topping the consensus estimate of $2.73 by $0.09. The firm had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.20 billion. Global Payments had a return on equity of 12.21% and a net margin of 15.54%. The firm's revenue for the quarter was down .3% on a year-over-year basis. During the same period in the previous year, the business earned $2.59 EPS. On average, sell-side analysts expect that Global Payments will post 11.89 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in GPN. Principal Financial Group Inc. boosted its stake in shares of Global Payments by 2.8% in the third quarter. Principal Financial Group Inc. now owns 299,137 shares of the business services provider's stock worth $30,638,000 after acquiring an additional 8,078 shares during the last quarter. GAMMA Investing LLC boosted its stake in Global Payments by 18.8% during the 4th quarter. GAMMA Investing LLC now owns 2,118 shares of the business services provider's stock worth $237,000 after purchasing an additional 335 shares during the last quarter. Sage Capital Advisors llc grew its holdings in shares of Global Payments by 0.3% during the fourth quarter. Sage Capital Advisors llc now owns 28,232 shares of the business services provider's stock worth $3,164,000 after buying an additional 96 shares in the last quarter. Czech National Bank raised its position in shares of Global Payments by 6.5% in the fourth quarter. Czech National Bank now owns 55,180 shares of the business services provider's stock valued at $6,183,000 after buying an additional 3,349 shares during the last quarter. Finally, Fiduciary Alliance LLC purchased a new position in shares of Global Payments in the fourth quarter worth about $678,000. 89.76% of the stock is owned by institutional investors and hedge funds.

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.