Heartland Payment Systems (NYSE:HPY) Receives a Downgrade
Credit Agricole has given Heartland Payment Systems (NYSE:HPY) shares a new “Underperform” rating in recent note revealed to clients and investors on Friday morning. This was a ratings downgrade from the previous “Buy” rating.
From a total of 14 analysts covering Heartland Payment Systems (NYSE:HPY) stock, 4 rate it a ”Buy”, 0 a “Sell”, and 15 a ”Hold”. This means that 21% of the ratings are positive. The highest target price is $90 while the lowest target price is $63. The mean of all analyst targets is $76.21 with a -8.75% below today’s ($82.49) stock price. Heartland Payment Systems was the topic of 18 analyst reports since August 4, 2015 according to the firm StockzIntelligence Inc. Keefe Bruyette & Woods maintained shares on December 8 with “Market Perform” rating. Wood downgraded shares to “Market Perform” rating and $70 target share price in a report from an October 6. Buckingham Research downgraded HPY stock in a recent report from November 2 to “Neutral” rating. Cowen & Co initiated the rating on September 30. Cowen & Co has a “Market Perform” rating and a $64 price target on shares. Finally, Robert W. Baird downgraded the stock to “Neutral” rating in a report issued on an October 26.
Approximately 358,808 shares of stock traded hands. Heartland Payment Systems, Inc. (NYSE:HPY) has risen 62.28% since May 8, 2015 and is uptrending. It has outperformed by 65.30% the S&P500.
The overall sentiment of institutions has increased to 1.21 in Q2 2015. Its up 0.20, from 1.01 in 2015Q2. The ratio improved, as 14 institutions have sold all the shares of Heartland Payment Systems, Inc. that they owned while 64 funds have taken shares off the table. 30 funds have purchased shares for the first time while 64 added to their positions. These institutions now hold 46.94 million shares or 22.79% more than the 38.22 million shares they owned in 2015Q2.
The Fund Copper Rock Capital Partners Llc currently is holding shares equating to 2.18% of its total portfolio in Heartland Payment Systems, Inc. representing a total of 409,568 shares. Another fund,Apex Capital Management, is holding a total of 1.33 million shares equating to 1.9% of their holdings. Additionally, Copeland Capital Management Llc has a 356,886 share stake in Heartland Payment Systems, Inc. which represents 1.38% of their total portfolio. The Fund, Hood River Capital Management Llc, based out of Oregon, has also built up a stake in the stock, which represents a total of 1.17% of their total portfolio. Finally Arbor Capital Management Llc, a fund which is based in the state of Minnesota reported a total holdings of 83,172 shares.
Heartland Payment Systems, Inc. provides card payment processing services to merchants throughout the United States. The company has a market cap of $3.13 billion. The Firm has the following reportable divisions: Payment Processing, Campus Solutions, Heartland School Solutions, Heartland Payroll Solutions and Other. It has 73.51 P/E ratio. The Payment Processing segment provides card payment processing and related services.
According to Zacks Investment Research, “Heartland Payment Systems, Inc. provides bank card-based payment processing services to small- and medium- sized merchants in the United States. Heartland facilitates the exchange of information and funds between merchants and cardholders’ financial institutions, providing end-to- end electronic payment processing services to merchants, including merchant setup and training, transaction authorization and electronic draft capture, clearing and settlement, merchant accounting, merchant assistance and support and risk management.” Get a free copy of the Zacks research report on Heartland Payment Systems, Inc. (HPY).