Wedbush Increases Global Payments (GPN) Price Target to $135.00
Global Payments (NYSE:GPN) had its price objective hoisted by analysts at Wedbush from $120.00 to $135.00 in a research report issued to clients and investors on Tuesday, The Fly reports. The brokerage currently has an “outperform” rating on the business services provider’s stock. Wedbush’s price objective points to a potential upside of 8.55% from the company’s current price.
A number of other equities research analysts also recently weighed in on GPN. Zacks Investment Research raised shares of Global Payments from a “hold” rating to a “buy” rating and set a $124.00 price objective for the company in a research report on Wednesday, June 27th. ValuEngine raised shares of Global Payments from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd. Raymond James started coverage on shares of Global Payments in a research report on Friday, June 15th. They set a “market perform” rating for the company. Morgan Stanley boosted their target price on shares of Global Payments from $124.00 to $125.00 and gave the company an “equal weight” rating in a research note on Friday, August 3rd. Finally, Nomura reissued a “sell” rating and set a $97.00 target price on shares of Global Payments in a research note on Monday, August 6th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and twenty-four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $117.15.
Shares of NYSE:GPN opened at $124.37 on Tuesday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.06. Global Payments has a fifty-two week low of $92.90 and a fifty-two week high of $124.65. The stock has a market cap of $19.32 billion, a P/E ratio of 31.01, a price-to-earnings-growth ratio of 1.45 and a beta of 1.13.
In other news, Director Robert H. B. Baldwin, Jr. sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 12th. The shares were sold at an average price of $118.18, for a total transaction of $709,080.00. Following the sale, the director now owns 97,149 shares in the company, valued at $11,481,068.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William I. Jacobs sold 10,181 shares of the business’s stock in a transaction that occurred on Thursday, June 14th. The shares were sold at an average price of $119.06, for a total transaction of $1,212,149.86. Following the sale, the director now owns 37,000 shares in the company, valued at approximately $4,405,220. The disclosure for this sale can be found here. Insiders have sold 23,981 shares of company stock worth $2,838,930 in the last 90 days. 0.98% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the business. Fort L.P. acquired a new position in shares of Global Payments during the 2nd quarter worth $118,000. Signet Financial Management LLC acquired a new position in shares of Global Payments during the 2nd quarter worth $134,000. Point72 Asia Hong Kong Ltd increased its stake in shares of Global Payments by 8,133.3% during the 1st quarter. Point72 Asia Hong Kong Ltd now owns 1,235 shares of the business services provider’s stock worth $138,000 after purchasing an additional 1,220 shares during the last quarter. Piedmont Investment Advisors LLC acquired a new position in shares of Global Payments during the 2nd quarter worth $201,000. Finally, Quantitative Systematic Strategies LLC acquired a new position in shares of Global Payments during the 1st quarter worth $202,000. Hedge funds and other institutional investors own 96.28% of the company’s stock.
Global Payments Company Profile
Global Payments Inc provides payment technology and software solutions for credit cards, debit cards, electronic payments, and check-related services. It offers authorization services, settlement and funding services, customer support and help-desk functions, chargeback resolution, terminal rental, sales and deployment, payment security services, consolidated billing and statements, online reporting, industry compliance, and payment card industry security services.
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