Global Payments (NYSE:GPN) Given New $97.00 Price Target at Barclays

Global Payments (NYSE:GPN) had its price target raised by equities researchers at Barclays from $89.00 to $97.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has an “equal weight” rating on the business services provider’s stock. Barclays‘s target price points to a potential downside of 1.27% from the company’s current price.

Several other equities research analysts have also commented on the stock. Royal Bank Of Canada reissued a “sector perform” rating and issued a $106.00 price target (up from $102.00) on shares of Global Payments in a report on Monday, August 31st. Morgan Stanley reaffirmed an “overweight” rating and set a $103.00 price objective on shares of Global Payments in a report on Thursday, August 6th. Cantor Fitzgerald lifted their target price on shares of Global Payments from $91.00 to $103.00 and gave the company a “neutral” rating in a research report on Monday. The Goldman Sachs Group boosted their target price on shares of Global Payments from $82.00 to $94.00 and gave the stock a “neutral” rating in a research note on Thursday, August 6th. Finally, Wells Fargo & Company boosted their target price on shares of Global Payments from $103.00 to $116.00 and gave the stock an “overweight” rating in a research note on Friday. Thirteen equities research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Global Payments presently has a consensus rating of “Hold” and an average target price of $98.07.

Global Payments Stock Performance

Shares of GPN stock traded up $0.85 on Monday, hitting $98.25. The company had a trading volume of 283,842 shares, compared to its average volume of 3,375,836. Global Payments has a twelve month low of $61.16 and a twelve month high of $101.32. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.89. The firm has a market cap of $26.00 billion, a P/E ratio of -21.56, a price-to-earnings-growth ratio of 0.47 and a beta of 0.83. The company has a 50-day moving average price of $86.72 and a 200-day moving average price of $77.54.

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

Hedge Funds Weigh In On Global Payments

Hedge funds have recently bought and sold shares of the company. Western Wealth Management LLC purchased a new stake in Global Payments during the first quarter worth about $34,000. Nvwm LLC purchased a new position in shares of Global Payments in the third quarter valued at approximately $41,000. Jacobi Capital Management LLC acquired a new position in shares of Global Payments in the third quarter valued at approximately $47,000. Geneos Wealth Management Inc. increased its stake in Global Payments by 48.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 765 shares of the business services provider’s stock worth $51,000 after buying an additional 250 shares during the period. Finally, Fortitude Family Office LLC increased its stake in Global Payments by 365.7% during the 3rd quarter. Fortitude Family Office LLC now owns 624 shares of the business services provider’s stock worth $51,000 after buying an additional 490 shares during the period. Institutional investors and hedge funds 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.