JPMorgan Chase & Co. Has Lowered Expectations for Global Payments (NYSE:GPN) Stock Price

Global Payments (NYSE:GPN) had its price target reduced by investment analysts at JPMorgan Chase & Co. from $95.00 to $90.00 in a report issued on Thursday, Marketbeat.com reports. The firm presently has a “neutral” rating on the business services provider’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 31.45% from the stock’s previous close.

GPN has been the subject of several other research reports. Jefferies Financial Group dropped their price target on Global Payments from $85.00 to $75.00 and set a “hold” rating for the company in a research note on Monday, November 24th. Citigroup raised shares of Global Payments to a “strong-buy” rating in a research note on Thursday, October 23rd. Wells Fargo & Company upgraded shares of Global Payments to a “strong-buy” rating in a research note on Wednesday, October 22nd. Rothschild & Co Redburn upped their price target on Global Payments from $65.00 to $70.00 and gave the company a “sell” rating in a report on Wednesday, December 3rd. Finally, UBS Group reaffirmed a “neutral” rating and issued a $93.00 target price on shares of Global Payments in a research report on Wednesday, January 21st. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Global Payments has an average rating of “Hold” and a consensus price target of $91.75.

Global Payments Trading Down 0.7%

Shares of GPN stock opened at $68.47 on Thursday. The company has a 50-day simple moving average of $76.37 and a two-hundred day simple moving average of $80.57. The company has a market capitalization of $16.21 billion, a price-to-earnings ratio of 9.62, a PEG ratio of 0.45 and a beta of 0.76. Global Payments has a 52-week low of $65.93 and a 52-week high of $107.27. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.85 and a current ratio of 0.85.

Insider Buying and Selling

In other news, insider David Lawrence Green sold 11,600 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $79.99, for a total value of $927,884.00. Following the completion of the sale, the insider owned 68,096 shares in the company, valued at approximately $5,446,999.04. The trade was a 14.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP David M. Sheffield sold 2,016 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $81.41, for a total transaction of $164,122.56. Following the completion of the sale, the executive vice president owned 14,438 shares of the company’s stock, valued at approximately $1,175,397.58. This trade represents a 12.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.01% of the stock is owned by insiders.

Institutional Trading of Global Payments

Several institutional investors have recently bought and sold shares of the business. Pettee Investors Inc. increased its stake in shares of Global Payments by 24.1% in the second quarter. Pettee Investors Inc. now owns 15,672 shares of the business services provider’s stock worth $1,254,000 after purchasing an additional 3,040 shares during the period. Independent Advisor Alliance grew its holdings in Global Payments by 260.5% in the 3rd quarter. Independent Advisor Alliance now owns 29,446 shares of the business services provider’s stock valued at $2,446,000 after buying an additional 21,278 shares during the last quarter. BIP Wealth LLC increased its position in Global Payments by 151.6% in the 3rd quarter. BIP Wealth LLC now owns 30,103 shares of the business services provider’s stock worth $2,501,000 after buying an additional 18,138 shares during the period. Atlantic Union Bankshares Corp acquired a new position in shares of Global Payments during the third quarter worth approximately $905,000. Finally, HB Wealth Management LLC boosted its position in shares of Global Payments by 213.9% in the third quarter. HB Wealth Management LLC now owns 36,861 shares of the business services provider’s stock valued at $3,062,000 after acquiring an additional 25,118 shares during the period. 89.76% of the stock is owned by institutional investors and hedge funds.

Global Payments Company Profile

Global Payments Inc (NYSE: GPN) is a worldwide provider of payment technology and software solutions that enables commerce for merchants, issuers and enterprises. The company develops and operates payment processing networks, point-of-sale systems and cloud-based software that facilitate electronic transactions across in-store, online and mobile channels. Its services span merchant acquiring, payment gateway services, omnichannel commerce platforms, and solutions for recurring and subscription billing.

Global Payments offers a range of products and services including integrated payment terminals and point-of-sale software, e-commerce and gateway technologies, fraud prevention and tokenization tools, and business analytics and reporting.