Global Payments Inc. (NYSE:GPN) had its target price increased by equities researchers at J P Morgan Chase & Co from $106.00 to $107.00 in a note issued to investors on Tuesday. The firm presently has an “overweight” rating on the business services provider’s stock. J P Morgan Chase & Co’s target price would suggest a potential upside of 10.88% from the stock’s current price.
Other analysts also recently issued reports about the stock. Royal Bank Of Canada restated a “buy” rating and set a $90.00 price objective on shares of Global Payments in a research report on Monday, May 15th. Keefe, Bruyette & Woods restated a “buy” rating on shares of Global Payments in a research report on Monday, May 15th. Zacks Investment Research upgraded shares of Global Payments from a “hold” rating to a “buy” rating and set a $101.00 price objective on the stock in a research report on Thursday, July 6th. Mizuho initiated coverage on shares of Global Payments in a research report on Tuesday, June 27th. They set a “buy” rating and a $105.00 price objective on the stock. Finally, Barclays PLC reiterated a “buy” rating and issued a $96.00 price target on shares of Global Payments in a report on Monday, May 15th. One analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-one have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $97.34.
Global Payments (GPN) traded up 1.052% on Tuesday, hitting $97.515. 248,675 shares of the stock were exchanged. Global Payments has a 12 month low of $64.63 and a 12 month high of $97.99. The company has a 50-day moving average of $94.90 and a 200 day moving average of $87.66. The firm has a market cap of $14.87 billion, a P/E ratio of 75.652 and a beta of 1.11.
Global Payments (NYSE:GPN) last announced its quarterly earnings data on Thursday, August 3rd. The business services provider reported $0.94 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.07. The firm had revenue of $847.90 million for the quarter, compared to the consensus estimate of $837.76 million. Global Payments had a net margin of 6.65% and a return on equity of 18.32%. The company’s revenue was up 18.4% on a year-over-year basis. During the same period last year, the firm earned $0.76 EPS. Equities research analysts expect that Global Payments will post $3.95 earnings per share for the current fiscal year.
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In related news, Director Alan M. Silberstein sold 600 shares of Global Payments stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $93.74, for a total transaction of $56,244.00. Following the completion of the transaction, the director now directly owns 47,293 shares of the company’s stock, valued at approximately $4,433,245.82. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Guido Francesco Sacchi sold 25,927 shares of Global Payments stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $95.22, for a total transaction of $2,468,768.94. Following the transaction, the executive vice president now directly owns 34,622 shares of the company’s stock, valued at $3,296,706.84. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 132,949 shares of company stock valued at $12,557,401. 0.93% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Sun Life Financial INC boosted its stake 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 purchasing an additional 1,101 shares during the period. Thompson Davis & CO. Inc. boosted its stake 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 purchasing an additional 10 shares during the period. Intellectus Partners LLC purchased a new position in shares of Global Payments during the 2nd quarter worth about $128,000. Commonwealth Bank of Australia boosted its stake 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 purchasing an additional 176 shares during the period. Finally, Stephens Inc. AR purchased a new position in shares of Global Payments during the 2nd quarter worth about $143,000. 97.87% of the stock is owned by hedge funds and other institutional investors.
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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