Global Payments Inc. (NYSE:GPN) had its price objective cut by research analysts at Royal Bank Of Canada from $103.00 to $90.00 in a note issued to investors on Friday, Marketbeat reports. The brokerage presently has an “outperform” rating on the business services provider’s stock. Royal Bank Of Canada’s price target suggests a potential downside of 7.17% from the stock’s previous close.

A number of other research firms have also recently weighed in on GPN. Keefe, Bruyette & Woods restated a “buy” rating and issued a $100.00 price target on shares of Global Payments in a research note on Thursday, August 3rd. William Blair restated an “outperform” rating on shares of Global Payments in a research note on Monday, July 24th. Zacks Investment Research cut Global Payments from a “buy” rating to a “hold” rating in a research note on Friday, July 21st. Wedbush restated an “outperform” rating and issued a $107.25 price target (up from $85.00) on shares of Global Payments in a research note on Tuesday, June 6th. Finally, Stifel Nicolaus assumed coverage on Global Payments in a research note on Thursday, June 1st. They issued a “buy” rating and a $102.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eighteen have assigned a buy rating to the company’s stock. Global Payments currently has an average rating of “Buy” and a consensus price target of $94.58.

Global Payments (NYSE:GPN) opened at 96.76 on Friday. Global Payments has a 52 week low of $64.63 and a 52 week high of $97.99. The stock has a market capitalization of $14.75 billion, a P/E ratio of 76.13 and a beta of 1.09. The company’s 50-day moving average price is $91.86 and its 200 day moving average price is $84.63.

Global Payments (NYSE:GPN) last posted its quarterly earnings results on Thursday, August 3rd. The business services provider reported $0.94 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.07. Global Payments had a return on equity of 18.32% and a net margin of 6.65%. The company had revenue of $847.90 million for the quarter, compared to analysts’ expectations of $837.76 million. During the same period last year, the firm earned $0.76 earnings per share. Global Payments’s quarterly revenue was up 18.4% on a year-over-year basis. Equities research analysts expect that Global Payments will post $3.94 EPS for the current fiscal year.

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In related news, Director William I. Jacobs sold 600 shares of the firm’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $87.72, for a total transaction of $52,632.00. Following the transaction, the director now owns 42,475 shares of the company’s stock, valued at $3,725,907. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Robert H. B. Baldwin, Jr. sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $95.00, for a total value of $950,000.00. Following the transaction, the director now directly owns 183,177 shares in the company, valued at approximately $17,401,815. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,702 shares of company stock worth $2,847,076. Corporate insiders own 0.93% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Wetherby Asset Management Inc. raised its position in Global Payments by 0.4% in the first quarter. Wetherby Asset Management Inc. now owns 9,947 shares of the business services provider’s stock worth $802,000 after buying an additional 39 shares in the last quarter. Xact Kapitalforvaltning AB raised its position in Global Payments by 0.3% in the second quarter. Xact Kapitalforvaltning AB now owns 11,990 shares of the business services provider’s stock worth $1,083,000 after buying an additional 41 shares in the last quarter. First Personal Financial Services raised its position in Global Payments by 1.7% in the second quarter. First Personal Financial Services now owns 2,875 shares of the business services provider’s stock worth $260,000 after buying an additional 47 shares in the last quarter. Keybank National Association OH raised its position in Global Payments by 1.5% in the second quarter. Keybank National Association OH now owns 3,792 shares of the business services provider’s stock worth $342,000 after buying an additional 56 shares in the last quarter. Finally, Bbva Compass Bancshares Inc. raised its position in Global Payments by 0.3% in the second quarter. Bbva Compass Bancshares Inc. now owns 20,975 shares of the business services provider’s stock worth $1,894,000 after buying an additional 67 shares in the last quarter. 98.70% of the stock is currently owned by hedge funds and other institutional investors.

Global Payments Company Profile

Global Payments Inc is a provider of payment technology services. The Company provides payment and digital commerce solutions. The Company operates through three segments: North America, Europe and Asia-Pacific. The Company’s segments primarily provide payment solutions for credit cards, debit cards, electronic payments and check-related services.

Analyst Recommendations for Global Payments (NYSE:GPN)

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