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.

Global Payments (NYSE:GPN) last announced its quarterly earnings data on Thursday, August 2nd. The business services provider reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.07. Global Payments had a net margin of 14.86% and a return on equity of 17.99%. The business had revenue of $982.50 million during the quarter, compared to the consensus estimate of $968.75 million. During the same quarter in the prior year, the firm earned $0.94 EPS. The company’s revenue for the quarter was up 18.1% compared to the same quarter last year. equities analysts expect that Global Payments will post 4.87 earnings per share for the current fiscal year.

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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Analyst Recommendations for Global Payments (NYSE:GPN)

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