Global Payments (NYSE:GPN) Given New $100.00 Price Target at Sanford C. Bernstein

Global Payments (NYSE:GPN) had its price objective raised by equities researchers at Sanford C. Bernstein from $86.00 to $100.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “market perform” rating on the business services provider’s stock. Sanford C. Bernstein‘s price objective would suggest a potential downside of 0.74% from the stock’s previous close.

GPN has been the topic of a number of other research reports. William Blair reissued a “market perform” rating on shares of Global Payments in a research report on Friday, October 30th. Mizuho set a $115.00 price objective on shares of Global Payments and gave the stock an “outperform” rating in a report on Tuesday. KeyCorp raised their target price on shares of Global Payments from $105.00 to $112.00 and gave the company an “overweight” rating in a research note on Friday, November 6th. UBS Group initiated coverage on shares of Global Payments in a report on Thursday, August 6th. They issued a “buy” rating on the stock. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Global Payments from $76.00 to $95.00 and gave the stock a “market perform” rating in a research report on Thursday, August 6th. Thirteen analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $98.76.

Global Payments Stock Down 0.8%

Shares of GPN traded down $0.84 during trading hours on Wednesday, hitting $100.75. 962,196 shares of the company were exchanged, compared to its average volume of 3,376,356. The firm’s 50 day moving average is $87.05 and its 200-day moving average is $77.79. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.82 and a current ratio of 0.82. Global Payments has a 52 week low of $61.16 and a 52 week high of $102.90. The company has a market cap of $26.66 billion, a PE ratio of -22.03, a PEG ratio of 0.48 and a beta of 0.83.

Global Payments (NYSE:GPN) last posted its earnings results on Thursday, November 5th. The business services provider reported $3.58 earnings per share for the quarter, hitting the consensus estimate of $3.58. The firm had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.18 billion. Global Payments had a positive return on equity of 14.43% and a negative net margin of 11.21%. The company’s revenue for the quarter was up 36.1% on a year-over-year basis. During the same period in the previous year, the company earned $3.26 EPS. On average, equities research analysts forecast that Global Payments will post 13.65 EPS for the current fiscal year.

Institutional Trading of Global Payments

A number of hedge funds have recently modified their holdings of GPN. Meeder Asset Management Inc. grew its holdings in shares of Global Payments by 516.9% during the 3rd quarter. Meeder Asset Management Inc. now owns 438 shares of the business services provider’s stock worth $36,000 after purchasing an additional 367 shares in the last quarter. Western Wealth Management LLC bought a new stake in shares of Global Payments during the first quarter valued at approximately $34,000. Nvwm LLC acquired a new position in shares of Global Payments in the third quarter valued at $41,000. Jacobi Capital Management LLC acquired a new position in shares of Global Payments in the third quarter valued at $47,000. Finally, Mather Group LLC. raised its stake in shares of Global Payments by 25.2% in the third quarter. Mather Group LLC. now owns 622 shares of the business services provider’s stock valued at $51,000 after purchasing an additional 125 shares in the last quarter. Institutional investors own 89.76% of the company’s stock.

About Global Payments

Global Payments Inc. is a payment technology and software company that helps businesses accept and manage payments. Its services support in-person, online and mobile transactions, along with point-of-sale systems and software for business operations. The company also provides technology to financial institutions and other organizations that issue payment cards. Its services include card processing, account management and related digital tools. Global Payments serves customers across a range of industries and operates internationally, with services available in many countries.