Global Payments Inc. (GPN) Upgraded at Wells Fargo & Company
Global Payments Inc. (NYSE:GPN) was upgraded by equities research analysts at Wells Fargo & Company from a “market perform” rating to an “outperform” rating in a research report issued on Friday, MarketBeat Ratings reports. The brokerage presently has a $110.00 price target on the business services provider’s stock. Wells Fargo & Company’s price target indicates a potential upside of 12.57% from the stock’s previous close.
Other equities research analysts also recently issued research reports about the stock. Keefe, Bruyette & Woods reiterated a “buy” rating on shares of Global Payments in a research report on Monday, May 15th. BMO Capital Markets increased their target price on shares of Global Payments from $91.00 to $93.00 and gave the stock an “outperform” rating in a research report on Friday, May 5th. Royal Bank Of Canada cut their target price on shares of Global Payments from $103.00 to $90.00 and set an “outperform” rating for the company in a research report on Friday. Cantor Fitzgerald reiterated a “buy” rating and issued a $97.00 target price (up previously from $93.00) on shares of Global Payments in a research report on Monday, May 8th. Finally, Instinet reiterated a “reduce” rating and issued a $79.00 target price (up previously from $70.00) on shares of Global Payments in a research report on Wednesday, May 17th. One analyst has rated the stock with a sell rating, three have given a hold rating and eighteen have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $93.09.
Global Payments (GPN) traded up 2.70% during mid-day trading on Friday, hitting $97.72. The stock had a trading volume of 2,128,728 shares. Global Payments has a one year low of $64.63 and a one year high of $97.99. The stock has a market cap of $14.90 billion, a PE ratio of 76.88 and a beta of 1.09. The firm’s 50-day moving average is $91.38 and its 200 day moving average is $84.38.
Global Payments (NYSE:GPN) last released its earnings results on Thursday, August 3rd. The business services provider reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.07. Global Payments had a net margin of 6.65% and a return on equity of 18.32%. The company had revenue of $847.90 million during the quarter, compared to the consensus estimate of $837.76 million. During the same quarter in the prior year, the firm earned $0.76 EPS. The company’s revenue was up 18.4% compared to the same quarter last year. Equities research analysts expect that Global Payments will post $3.93 EPS for the current year.
In other news, Director William I. Jacobs sold 600 shares of Global Payments stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $87.72, for a total transaction of $52,632.00. Following the sale, the director now directly owns 42,475 shares in the company, valued at approximately $3,725,907. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ruth Ann Marshall sold 5,402 shares of Global Payments stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $92.26, for a total transaction of $498,388.52. Following the sale, the director now owns 41,476 shares in the company, valued at $3,826,575.76. The disclosure for this sale can be found here. Insiders sold a total of 30,702 shares of company stock worth $2,847,076 over the last 90 days. Company insiders own 0.93% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Financial Architects Inc raised its stake in shares of Global Payments by 14.5% in the first quarter. Financial Architects Inc now owns 1,840 shares of the business services provider’s stock valued at $149,000 after buying an additional 233 shares during the period. Morgan Dempsey Capital Management LLC raised its stake in shares of Global Payments by 86.6% in the first quarter. Morgan Dempsey Capital Management LLC now owns 2,004 shares of the business services provider’s stock valued at $162,000 after buying an additional 930 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd. raised its stake in shares of Global Payments by 84.8% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,033 shares of the business services provider’s stock valued at $164,000 after buying an additional 933 shares during the period. Point72 Asia Hong Kong Ltd acquired a new stake in shares of Global Payments during the first quarter valued at $200,000. Finally, Lakeview Capital Partners LLC acquired a new stake in shares of Global Payments during the second quarter valued at $200,000. Institutional investors and hedge funds own 98.57% of the company’s stock.
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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