Global Payments (NYSE:GPN) Price Target Raised to $100.00

Global Payments (NYSE:GPN) had its target price lifted by equities research analysts at JPMorgan Chase & Co. from $95.00 to $100.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a “neutral” rating on the business services provider’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 2.65% from the company’s current price.

A number of other equities research analysts have also recently commented on GPN. Keefe, Bruyette & Woods raised their price target on Global Payments from $76.00 to $95.00 and gave the company a “market perform” rating in a report on Thursday, August 6th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $83.00 price objective on shares of Global Payments in a research note on Thursday, August 6th. Wolfe Research reiterated an “outperform” rating and set a $125.00 target price (up from $110.00) on shares of Global Payments in a research report on Tuesday, August 25th. UBS Group started coverage on Global Payments in a research note on Thursday, August 6th. They set a “buy” rating on the stock. Finally, Argus set a $110.00 price target on Global Payments and gave the stock a “buy” rating in a report on Thursday, August 6th. Thirteen equities research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $97.79.

Global Payments Stock Up 0.0%

Shares of GPN stock opened at $97.42 on Friday. The company has a market capitalization of $25.78 billion, a price-to-earnings ratio of -21.36, a PEG ratio of 0.47 and a beta of 0.83. Global Payments has a one year low of $61.16 and a one year high of $101.32. The company’s fifty day moving average price is $86.72 and its 200-day moving average price is $77.54. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.82 and a quick ratio of 0.82.

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

Institutional Trading of Global Payments

Several hedge funds have recently bought and sold shares of the stock. Eurizon Capital SGR S.p.A. grew its position in shares of Global Payments by 29.4% during the third quarter. Eurizon Capital SGR S.p.A. now owns 24,181 shares of the business services provider’s stock valued at $1,976,000 after purchasing an additional 5,501 shares in the last quarter. Maryland State Retirement & Pension System increased its holdings in shares of Global Payments by 18.9% in the third quarter. Maryland State Retirement & Pension System now owns 14,142 shares of the business services provider’s stock worth $1,155,000 after purchasing an additional 2,244 shares during the last quarter. Jacobi Capital Management LLC bought a new stake in shares of Global Payments in the third quarter worth about $47,000. Keybank National Association OH lifted its position in shares of Global Payments by 8.2% in the third quarter. Keybank National Association OH now owns 3,395 shares of the business services provider’s stock worth $277,000 after buying an additional 256 shares in the last quarter. Finally, AlphaCore Capital LLC lifted its position in shares of Global Payments by 6.7% in the third quarter. AlphaCore Capital LLC now owns 22,123 shares of the business services provider’s stock worth $1,807,000 after buying an additional 1,382 shares in the last quarter. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Global Payments Company Profile

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.