Wells Fargo & Company Issues Pessimistic Forecast for Global Payments (NYSE:GPN) Stock Price

Global Payments (NYSE:GPN) had its target price lowered by research analysts at Wells Fargo & Company from $105.00 to $77.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the business services provider’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 7.86% from the stock’s current price.

GPN has been the topic of several other reports. Morgan Stanley decreased their price target on shares of Global Payments from $166.00 to $163.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. Citigroup lowered their price target on Global Payments from $138.00 to $135.00 and set a “buy” rating on the stock in a research note on Tuesday, February 18th. Jefferies Financial Group cut Global Payments from a “buy” rating to a “hold” rating and set a $75.00 price target for the company. in a report on Friday, April 18th. TD Cowen lowered Global Payments from a “buy” rating to a “hold” rating and set a $78.00 price objective on the stock. in a report on Monday. Finally, Evercore ISI began coverage on Global Payments in a research report on Wednesday, April 9th. They set an “in-line” rating and a $85.00 price objective on the stock. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Global Payments presently has an average rating of “Hold” and an average target price of $117.36.

Global Payments Stock Performance

NYSE:GPN opened at $71.39 on Monday. The firm has a market capitalization of $17.55 billion, a PE ratio of 11.55, a PEG ratio of 0.86 and a beta of 0.97. Global Payments has a 1 year low of $65.93 and a 1 year high of $127.66. The company has a current ratio of 0.97, a quick ratio of 0.93 and a debt-to-equity ratio of 0.66. The firm’s fifty day simple moving average is $94.01 and its 200 day simple moving average is $104.52.

Global Payments (NYSE:GPN) last posted its quarterly earnings data on Thursday, February 13th. The business services provider reported $2.84 EPS for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.14). Global Payments had a return on equity of 12.21% and a net margin of 15.54%. The business had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.31 billion. On average, sell-side analysts anticipate that Global Payments will post 11.89 EPS for the current year.

Institutional Trading of Global Payments

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Global Payments during the fourth quarter worth approximately $345,823,000. Pzena Investment Management LLC grew its holdings in Global Payments by 25.0% during the 4th quarter. Pzena Investment Management LLC now owns 8,298,846 shares of the business services provider’s stock worth $929,969,000 after acquiring an additional 1,659,984 shares during the period. SG Americas Securities LLC grew its holdings in Global Payments by 75,379.7% during the 1st quarter. SG Americas Securities LLC now owns 1,517,141 shares of the business services provider’s stock worth $148,558,000 after acquiring an additional 1,515,131 shares during the period. Contour Asset Management LLC bought a new stake in shares of Global Payments during the 4th quarter valued at $147,695,000. Finally, Focused Investors LLC acquired a new position in shares of Global Payments in the 4th quarter valued at $99,969,000. 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.