Global Payments Inc. (GPN) Price Target Raised to $116.00 at Barclays PLC
Global Payments Inc. (NYSE:GPN) had its target price hoisted by research analysts at Barclays PLC from $105.00 to $116.00 in a research note issued on Wednesday, Marketbeat.com reports. The brokerage currently has an “overweight” rating on the business services provider’s stock. Barclays PLC’s target price would suggest a potential upside of 17.09% from the company’s current price.
Several other research analysts have also recently issued reports on the company. Credit Suisse Group reaffirmed an “outperform” rating on shares of Global Payments in a research report on Tuesday, September 5th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $90.00 price objective on shares of Global Payments in a research report on Friday, July 7th. Robert W. Baird reaffirmed a “buy” rating and set a $106.00 price objective on shares of Global Payments in a research report on Tuesday, September 5th. Mizuho started coverage on Global Payments in a research report on Tuesday, June 27th. They set a “buy” rating and a $105.00 price objective for the company. Finally, Zacks Investment Research cut Global Payments from a “buy” rating to a “hold” rating in a research report on Friday, July 21st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $101.01.
Global Payments (NYSE GPN) traded up 0.56% on Wednesday, hitting $99.07. The stock had a trading volume of 1,030,071 shares. Global Payments has a 12 month low of $64.63 and a 12 month high of $100.34. The company has a 50-day moving average of $95.84 and a 200 day moving average of $90.35. The company has a market cap of $15.11 billion, a PE ratio of 76.86 and a beta of 1.11.
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 Thomson Reuters’ 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 return on equity of 18.32% and a net margin of 6.65%. The business’s quarterly revenue was up 18.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.76 EPS. On average, analysts predict that Global Payments will post $3.96 EPS for the current fiscal year.
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In other news, Director William I. Jacobs sold 8,428 shares of the stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $94.05, for a total transaction of $792,653.40. Following the completion of the transaction, the director now directly owns 40,675 shares of the company’s stock, valued at approximately $3,825,483.75. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director William I. Jacobs sold 600 shares of the stock in a transaction that occurred on Thursday, July 13th. The stock was sold at an average price of $90.52, for a total value of $54,312.00. Following the transaction, the director now directly owns 41,275 shares of the company’s stock, valued at $3,736,213. The disclosure for this sale can be found here. Over the last three months, insiders have sold 137,549 shares of company stock valued at $13,043,823. Company insiders own 0.93% of the company’s stock.
Several hedge funds have recently modified their holdings of GPN. BlackRock Inc. raised its stake in shares of Global Payments by 3,093.1% during the 1st 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 in the last quarter. Janus Henderson Group PLC raised its stake in shares of Global Payments by 11,779.8% during the 2nd quarter. Janus Henderson Group PLC now owns 2,292,798 shares of the business services provider’s stock worth $207,086,000 after buying an additional 2,273,498 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Global Payments by 162.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,284,298 shares of the business services provider’s stock worth $296,636,000 after buying an additional 2,030,880 shares in the last quarter. Capital International Investors purchased a new position in shares of Global Payments during the 2nd quarter worth approximately $173,900,000. Finally, Nomura Asset Management Co. Ltd. raised its stake in shares of Global Payments by 2,062.0% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 758,483 shares of the business services provider’s stock worth $61,195,000 after buying an additional 723,400 shares in the last quarter. 97.84% of the stock is owned by institutional investors and hedge funds.
Global Payments Company Profile
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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