Nomura Boosts Global Payments (GPN) Price Target to $92.00

Global Payments (NYSE:GPN) had its target price upped by equities research analysts at Nomura from $85.00 to $92.00 in a report released on Tuesday. The brokerage currently has a “reduce” rating on the business services provider’s stock. Nomura’s target price suggests a potential downside of 14.09% from the company’s previous close.

Several other equities research analysts have also recently issued reports on the company. Keefe, Bruyette & Woods restated a “buy” rating and set a $122.00 price objective on shares of Global Payments in a report on Friday, December 22nd. Zacks Investment Research cut Global Payments from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. Stephens upgraded Global Payments from an “equal weight” rating to an “overweight” rating and set a $122.00 target price on the stock in a report on Tuesday, January 9th. Credit Suisse Group reiterated an “outperform” rating and issued a $108.00 target price (up previously from $100.00) on shares of Global Payments in a report on Thursday, November 9th. They noted that the move was a valuation call. Finally, SunTrust Banks restated a “buy” rating and set a $120.00 price objective on shares of Global Payments in a research note on Friday, November 10th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-two have given a buy rating to the company’s stock. Global Payments currently has an average rating of “Buy” and a consensus price target of $105.51.

Global Payments (NYSE GPN) traded up $0.69 during mid-day trading on Tuesday, hitting $107.09. The stock had a trading volume of 263,474 shares, compared to its average volume of 1,023,204. Global Payments has a 1-year low of $76.47 and a 1-year high of $113.26. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.27. The firm has a market capitalization of $16,539.67, a PE ratio of 59.31, a price-to-earnings-growth ratio of 1.55 and a beta of 1.14.

In other news, Director Alan M. Silberstein sold 600 shares of the company’s stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $106.05, for a total transaction of $63,630.00. Following the completion of the transaction, the director now directly owns 44,293 shares of the company’s stock, valued at $4,697,272.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 3,000 shares of company stock valued at $307,278 over the last ninety days. Corporate insiders own 0.93% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dynamic Technology Lab Private Ltd increased its stake in shares of Global Payments by 9.4% in the second quarter. Dynamic Technology Lab Private Ltd now owns 3,283 shares of the business services provider’s stock worth $297,000 after acquiring an additional 283 shares during the last quarter. New Mexico Educational Retirement Board increased its stake in shares of Global Payments by 3.5% in the fourth quarter. New Mexico Educational Retirement Board now owns 14,700 shares of the business services provider’s stock worth $1,474,000 after acquiring an additional 500 shares during the last quarter. Mutual of America Capital Management LLC increased its stake in shares of Global Payments by 2.0% in the fourth quarter. Mutual of America Capital Management LLC now owns 25,951 shares of the business services provider’s stock worth $2,601,000 after acquiring an additional 508 shares during the last quarter. BB&T Securities LLC increased its stake in shares of Global Payments by 12.5% in the third quarter. BB&T Securities LLC now owns 4,703 shares of the business services provider’s stock worth $446,000 after acquiring an additional 522 shares during the last quarter. Finally, Standard Life Aberdeen plc boosted its holdings in Global Payments by 2.2% in the fourth quarter. Standard Life Aberdeen plc now owns 27,501 shares of the business services provider’s stock worth $2,757,000 after purchasing an additional 580 shares in the last quarter. Hedge funds and other institutional investors own 98.53% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “Nomura Boosts Global Payments (GPN) Price Target to $92.00” was first reported by American Banking News and is the property of of American Banking News. If you are reading this piece on another website, it was stolen and reposted in violation of U.S. & international copyright and trademark law. The correct version of this piece can be read at https://www.americanbankingnews.com/2018/02/13/nomura-boosts-global-payments-gpn-price-target-to-92-00.html.

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.

Analyst Recommendations for Global Payments (NYSE:GPN)

Receive News & Ratings for Global Payments Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Global Payments and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply