Global Payments (NYSE:GPN) Price Target Raised to $166.00 at Morgan Stanley

Global Payments (NYSE:GPN) had its price objective raised by equities research analysts at Morgan Stanley from $156.00 to $166.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the business services provider’s stock. Morgan Stanley’s price objective indicates a potential upside of 44.73% from the stock’s current price.

Other research analysts also recently issued reports about the company. BMO Capital Markets cut their price target on Global Payments from $126.00 to $122.00 and set a “market perform” rating on the stock in a report on Wednesday, September 25th. Jefferies Financial Group decreased their price target on shares of Global Payments from $130.00 to $120.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. KeyCorp cut their price objective on shares of Global Payments from $145.00 to $135.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 25th. BNP Paribas raised shares of Global Payments to a “strong sell” rating in a report on Wednesday, September 4th. Finally, Monness Crespi & Hardt decreased their price objective on Global Payments from $165.00 to $155.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $138.55.

Global Payments Price Performance

NYSE GPN opened at $114.70 on Wednesday. The company has a market cap of $29.19 billion, a PE ratio of 21.60, a P/E/G ratio of 0.90 and a beta of 1.00. The firm’s 50 day moving average price is $110.39 and its 200-day moving average price is $104.77. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.93 and a current ratio of 0.93. Global Payments has a 52-week low of $91.60 and a 52-week high of $141.77.

Insider Activity at Global Payments

In other Global Payments news, Director Robert H. B. Baldwin, Jr. acquired 5,800 shares of the company’s stock in a transaction on Friday, December 13th. The shares were bought at an average cost of $116.00 per share, with a total value of $672,800.00. Following the completion of the acquisition, the director now owns 42,738 shares in the company, valued at approximately $4,957,608. This trade represents a 15.70 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.98% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in GPN. Cromwell Holdings LLC acquired a new position in Global Payments during the third quarter worth $25,000. Beaird Harris Wealth Management LLC purchased a new stake in shares of Global Payments during the third quarter worth about $25,000. POM Investment Strategies LLC acquired a new position in shares of Global Payments during the 2nd quarter worth about $32,000. Capital Performance Advisors LLP purchased a new position in Global Payments in the 3rd quarter valued at about $33,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its holdings in Global Payments by 59.6% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 383 shares of the business services provider’s stock worth $39,000 after buying an additional 143 shares during the last quarter. 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.