Global Payments (NYSE:GPN) had its price objective lifted by analysts at SunTrust Banks to $155.00 in a research report issued to clients and investors on Tuesday, The Fly reports. The brokerage currently has a “buy” rating on the business services provider’s stock. SunTrust Banks’ price target indicates a potential upside of 12.07% from the company’s previous close.
A number of other research firms also recently issued reports on GPN. Mizuho raised their price target on Global Payments to $136.00 and gave the stock a “buy” rating in a research note on Thursday, February 14th. Nomura raised their price target on Global Payments from $91.00 to $94.00 and gave the stock a “reduce” rating in a research note on Monday, February 11th. Jefferies Financial Group initiated coverage on Global Payments in a research note on Thursday, February 28th. They set a “buy” rating and a $150.00 price target on the stock. restated an “outperform” rating and set a $143.00 price target (up previously from $130.00) on shares of Global Payments in a research note on Thursday, February 14th. Finally, Atlantic Securities downgraded Global Payments from an “overweight” rating to a “neutral” rating and set a $133.36 price target on the stock. in a research note on Thursday, March 21st. One research analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have assigned a buy rating to the company’s stock. Global Payments has a consensus rating of “Buy” and a consensus target price of $135.64.
NYSE:GPN opened at $138.31 on Tuesday. The company has a market cap of $21.96 billion, a P/E ratio of 26.65, a PEG ratio of 1.47 and a beta of 1.20. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.20. Global Payments has a 52-week low of $94.81 and a 52-week high of $139.40.
Global Payments (NYSE:GPN) last released its quarterly earnings results on Wednesday, February 13th. The business services provider reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.08. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.04 billion. Global Payments had a return on equity of 19.11% and a net margin of 13.43%. The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.07 EPS. On average, research analysts expect that Global Payments will post 5.72 EPS for the current fiscal year.
In other news, insider Cameron M. Bready sold 34,308 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $131.33, for a total value of $4,505,669.64. Following the completion of the sale, the insider now directly owns 138,520 shares of the company’s stock, valued at approximately $18,191,831.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeffrey Steven Sloan sold 167,545 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $129.59, for a total value of $21,712,156.55. Following the completion of the sale, the chief executive officer now directly owns 579,207 shares of the company’s stock, valued at $75,059,435.13. The disclosure for this sale can be found here. Insiders have sold a total of 209,629 shares of company stock valued at $27,209,312 over the last ninety days. 0.88% of the stock is owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. Morgan Stanley lifted its holdings in shares of Global Payments by 184.0% in the 3rd quarter. Morgan Stanley now owns 459,685 shares of the business services provider’s stock valued at $58,564,000 after buying an additional 297,842 shares during the period. Psagot Investment House Ltd. lifted its holdings in shares of Global Payments by 93.8% in the 4th quarter. Psagot Investment House Ltd. now owns 24,613 shares of the business services provider’s stock valued at $2,538,000 after buying an additional 11,913 shares during the period. Exane Derivatives lifted its holdings in shares of Global Payments by 43,286.4% in the 4th quarter. Exane Derivatives now owns 9,545 shares of the business services provider’s stock valued at $984,000 after buying an additional 9,523 shares during the period. Groesbeck Investment Management Corp NJ acquired a new stake in shares of Global Payments in the 4th quarter valued at approximately $249,000. Finally, Nuveen Asset Management LLC lifted its holdings in shares of Global Payments by 0.8% in the 4th quarter. Nuveen Asset Management LLC now owns 22,188 shares of the business services provider’s stock valued at $2,288,000 after buying an additional 182 shares during the period. 98.80% of the stock is owned by institutional investors and hedge funds.
Global Payments Company Profile
Global Payments Inc provides payment technology and software solutions for card, electronic, check, and digital-based payments. The company operates in three segments: North America, Europe, and Asia-Pacific. 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, and online reporting services.
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