Global Payments (NYSE:GPN) Cut to “Sell” at ValuEngine
A number of other equities research analysts also recently weighed in on the company. UBS Group assumed coverage on Global Payments in a report on Monday, October 14th. They set a “buy” rating and a $193.00 price objective on the stock. Wolfe Research set a $195.00 price objective on Global Payments and gave the company a “buy” rating in a report on Friday, November 1st. Goldman Sachs Group reaffirmed a “buy” rating and set a $212.00 price objective on shares of Global Payments in a report on Tuesday, September 24th. Robert W. Baird lifted their price objective on Global Payments from $188.00 to $203.00 and gave the company an “outperform” rating in a report on Wednesday, September 18th. Finally, Oppenheimer lifted their price objective on Global Payments from $178.00 to $192.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and twenty-one have given a buy rating to the company. Global Payments currently has an average rating of “Buy” and a consensus target price of $177.56.
GPN stock opened at $178.07 on Tuesday. Global Payments has a twelve month low of $94.81 and a twelve month high of $182.13. The company has a market cap of $54.43 billion, a PE ratio of 34.31, a price-to-earnings-growth ratio of 1.83 and a beta of 0.98. The business’s 50-day simple moving average is $170.70 and its 200 day simple moving average is $163.15. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.32.
In other news, Director William I. Jacobs sold 10,980 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $175.27, for a total value of $1,924,464.60. Following the transaction, the director now directly owns 40,568 shares of the company’s stock, valued at approximately $7,110,353.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William I. Jacobs sold 600 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $163.22, for a total value of $97,932.00. Following the completion of the transaction, the director now directly owns 28,388 shares in the company, valued at $4,633,489.36. The disclosure for this sale can be found here. Insiders sold a total of 20,757 shares of company stock worth $3,575,202 over the last three months. 0.88% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Next Capital Management LLC bought a new position in Global Payments in the 2nd quarter worth approximately $25,000. Citizens Financial Group Inc RI bought a new position in Global Payments in the 2nd quarter worth approximately $27,000. First Financial Corp IN bought a new position in Global Payments in the 3rd quarter worth approximately $27,000. Tarbox Family Office Inc. raised its position in Global Payments by 130.7% in the 3rd quarter. Tarbox Family Office Inc. now owns 173 shares of the business services provider’s stock worth $28,000 after purchasing an additional 98 shares during the last quarter. Finally, Redhawk Wealth Advisors Inc. bought a new position in Global Payments in the 2nd quarter worth approximately $34,000. 87.90% of the stock is currently owned by institutional investors and hedge funds.
About Global Payments
Global Payments Inc provides payment technology and software solutions for card, electronic, check, and digital-based payments. The company operates in three segments: North America, Europe, and Asia-Pacific. 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, and online reporting services.
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