Global Payments Inc. (GPN) PT Raised to $116.00 at Barclays PLC
Global Payments Inc. (NYSE:GPN) had its price objective increased by Barclays PLC from $105.00 to $116.00 in a research note issued on Wednesday. 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 17.10% from the stock’s previous close.
GPN has been the subject of several other reports. BidaskClub downgraded Global Payments from a “buy” rating to a “hold” rating in a research note on Saturday, August 26th. Cowen and Company restated a “buy” rating and issued a $102.00 price target on shares of Global Payments in a research note on Friday, September 8th. Zacks Investment Research upgraded Global Payments from a “hold” rating to a “buy” rating and set a $110.00 price target for the company in a research note on Wednesday. Bank of America Corporation assumed coverage on Global Payments in a research note on Tuesday, September 12th. They issued a “buy” rating and a $110.00 price target for the company. Finally, Wells Fargo & Company upgraded Global Payments from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $90.00 to $110.00 in a research note on Friday, August 4th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $101.01.
Global Payments (GPN) opened at 99.06 on Wednesday. The company has a market capitalization of $15.11 billion, a PE ratio of 76.85 and a beta of 1.11. The company has a 50-day moving average price of $95.97 and a 200 day moving average price of $90.42. Global Payments has a 12 month low of $64.63 and a 12 month high of $100.34.
Global Payments (NYSE:GPN) last posted its earnings results on Thursday, August 3rd. The business services provider reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.07. The business had revenue of $847.90 million for the quarter, compared to analyst estimates of $837.76 million. Global Payments had a return on equity of 18.32% and a net margin of 6.65%. The firm’s revenue was up 18.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.76 EPS. On average, equities research analysts forecast that Global Payments will post $3.95 EPS for the current fiscal year.
In related news, insider David E. Mangum sold 75,794 shares of the company’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $94.51, for a total transaction of $7,163,290.94. Following the completion of the sale, the insider now directly owns 112,930 shares in the company, valued at approximately $10,673,014.30. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Robert H. B. Baldwin, Jr. sold 26,000 shares of the company’s stock in a transaction on Thursday, October 12th. The stock was sold at an average price of $99.82, for a total value of $2,595,320.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 162,949 shares of company stock valued at $15,584,831. Corporate insiders own 0.93% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Sun Life Financial INC lifted its position in shares of Global Payments by 15,728.6% during the 2nd quarter. Sun Life Financial INC now owns 1,108 shares of the business services provider’s stock worth $100,000 after buying an additional 1,101 shares during the last quarter. Thompson Davis & CO. Inc. lifted its position in shares of Global Payments by 0.8% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 1,197 shares of the business services provider’s stock worth $108,000 after buying an additional 10 shares during the last quarter. Intellectus Partners LLC bought a new stake in shares of Global Payments during the 2nd quarter worth $128,000. Commonwealth Bank of Australia lifted its position in shares of Global Payments by 13.6% during the 2nd quarter. Commonwealth Bank of Australia now owns 1,466 shares of the business services provider’s stock worth $131,000 after buying an additional 176 shares during the last quarter. Finally, Stephens Inc. AR bought a new stake in shares of Global Payments during the 2nd quarter worth $143,000. Institutional investors and hedge funds own 97.84% of the company’s stock.
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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