Barclays PLC Boosts Global Payments Inc. (NYSE:GPN) Price Target to $105.00
Global Payments Inc. (NYSE:GPN) had its target price upped by equities research analysts at Barclays PLC from $98.00 to $105.00 in a report issued on Friday. The brokerage currently has an “overweight” rating on the business services provider’s stock. Barclays PLC’s price target indicates a potential upside of 7.45% from the company’s current price.
Several other equities analysts have also recently issued reports on the stock. Atlantic Securities started coverage on shares of Global Payments in a research report on Wednesday, April 12th. They issued an “overweight” rating and a $91.00 price target for the company. Zacks Investment Research upgraded shares of Global Payments from a “sell” rating to a “hold” rating in a research report on Wednesday, May 10th. Royal Bank Of Canada restated a “buy” rating and issued a $90.00 price target on shares of Global Payments in a research report on Friday, July 7th. Mizuho started coverage on shares of Global Payments in a research report on Tuesday, June 27th. They issued a “buy” rating and a $105.00 price target for the company. Finally, Keefe, Bruyette & Woods restated a “buy” rating on shares of Global Payments in a research report on Monday, May 15th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eighteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $93.09.
Global Payments (NYSE:GPN) traded up 2.70% during mid-day trading on Friday, hitting $97.72. 2,128,728 shares of the stock traded hands. The company has a 50 day moving average price of $91.38 and a 200-day moving average price of $84.38. Global Payments has a one year low of $64.63 and a one year high of $97.99. The stock has a market capitalization of $14.90 billion, a PE ratio of 76.88 and a beta of 1.09.
Global Payments (NYSE:GPN) last released its quarterly earnings data on Thursday, August 3rd. The business services provider reported $0.94 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.07. The business had revenue of $847.90 million during the quarter, compared to analysts’ expectations of $837.76 million. Global Payments had a net margin of 6.65% and a return on equity of 18.32%. During the same period in the prior year, the company earned $0.76 EPS. The firm’s quarterly revenue was up 18.4% compared to the same quarter last year. Equities analysts anticipate that Global Payments will post $3.93 earnings per share for the current fiscal year.
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In related news, Director William I. Jacobs sold 600 shares of the stock in a transaction on Monday, May 15th. The shares were sold at an average price of $87.72, for a total transaction of $52,632.00. Following the transaction, the director now directly owns 42,475 shares of the company’s stock, valued at $3,725,907. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Ruth Ann Marshall sold 5,402 shares of the stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $92.26, for a total transaction of $498,388.52. Following the transaction, the director now directly owns 41,476 shares in the company, valued at $3,826,575.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,702 shares of company stock worth $2,847,076. 0.93% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Wellington Management Group LLP raised its position in shares of Global Payments by 0.8% in the first quarter. Wellington Management Group LLP now owns 16,940,401 shares of the business services provider’s stock valued at $1,366,752,000 after buying an additional 126,712 shares in the last quarter. FMR LLC raised its position in Global Payments by 12.4% in the first quarter. FMR LLC now owns 14,898,661 shares of the business services provider’s stock worth $1,202,023,000 after buying an additional 1,647,907 shares during the period. Vanguard Group Inc. raised its position in Global Payments by 2.4% in the first quarter. Vanguard Group Inc. now owns 14,762,938 shares of the business services provider’s stock worth $1,191,073,000 after buying an additional 341,212 shares during the period. BlackRock Inc. raised its position in Global Payments by 3,093.1% in the first quarter. BlackRock Inc. now owns 13,529,075 shares of the business services provider’s stock worth $1,091,527,000 after buying an additional 13,105,378 shares during the period. Finally, State Street Corp raised its position in Global Payments by 1.1% in the first quarter. State Street Corp now owns 5,989,099 shares of the business services provider’s stock worth $483,201,000 after buying an additional 63,278 shares during the period. 98.57% of the stock is currently owned by institutional investors and hedge funds.
About Global Payments
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.
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