Global Payments (NYSE:GPN) Price Target Raised to $81.00 at Keefe, Bruyette & Woods

Global Payments (NYSE:GPN) had its target price increased by research analysts at Keefe, Bruyette & Woods from $78.00 to $81.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “market perform” rating on the business services provider’s stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 1.92% from the company’s current price.

A number of other equities research analysts also recently commented on the stock. Jefferies Financial Group downgraded shares of Global Payments from a “buy” rating to a “hold” rating and set a $75.00 target price for the company. in a research report on Friday, April 18th. Stephens cut Global Payments from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $125.00 to $120.00 in a research report on Friday, January 10th. Morgan Stanley dropped their target price on Global Payments from $166.00 to $163.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. StockNews.com raised shares of Global Payments from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. Finally, Bank of America dropped their price objective on shares of Global Payments from $156.00 to $149.00 and set a “buy” rating on the stock in a report on Friday, February 14th. One analyst has rated the stock with a sell rating, nineteen have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $112.09.

Global Payments Stock Performance

GPN stock opened at $79.47 on Wednesday. The stock’s 50 day simple moving average is $87.26 and its 200 day simple moving average is $102.48. The company has a current ratio of 0.97, a quick ratio of 0.93 and a debt-to-equity ratio of 0.66. Global Payments has a 12-month low of $65.93 and a 12-month high of $120.00. The stock has a market capitalization of $19.54 billion, a PE ratio of 12.86, a price-to-earnings-growth ratio of 0.86 and a beta of 0.96.

Global Payments (NYSE:GPN) last issued its earnings results on Tuesday, May 6th. The business services provider reported $2.82 earnings per share for the quarter, topping analysts’ consensus estimates of $2.73 by $0.09. The business had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.20 billion. Global Payments had a return on equity of 12.21% and a net margin of 15.54%. Global Payments’s revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.59 EPS. As a group, research analysts forecast that Global Payments will post 11.89 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Global Payments

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sage Capital Advisors llc boosted its position in shares of Global Payments by 0.3% during the 4th quarter. Sage Capital Advisors llc now owns 28,232 shares of the business services provider’s stock valued at $3,164,000 after acquiring an additional 96 shares during the last quarter. Private Trust Co. NA lifted its position in Global Payments by 11.2% during the fourth quarter. Private Trust Co. NA now owns 992 shares of the business services provider’s stock valued at $111,000 after purchasing an additional 100 shares during the last quarter. Truvestments Capital LLC grew its stake in shares of Global Payments by 2.9% in the 4th quarter. Truvestments Capital LLC now owns 3,685 shares of the business services provider’s stock worth $413,000 after buying an additional 103 shares in the last quarter. Greenleaf Trust increased its holdings in shares of Global Payments by 5.9% in the 4th quarter. Greenleaf Trust now owns 2,068 shares of the business services provider’s stock worth $232,000 after buying an additional 115 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its position in shares of Global Payments by 1.1% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 10,963 shares of the business services provider’s stock valued at $1,228,000 after buying an additional 117 shares in the last quarter. 89.76% of the stock is owned by institutional investors.

Global Payments Company Profile

Global Payments Inc provides payment technology and software solutions for card, check, and digital-based payments in the Americas, Europe, and the Asia-Pacific. It operates through two segments, Merchant Solutions and Issuer Solutions. The Merchant Solutions segment offers authorization, settlement and funding, customer support, chargeback resolution, terminal rental, sales and deployment, payment security, and consolidated billing and reporting services.