Global Payments Inc. (GPN) PT Raised to $106.00 at Morgan Stanley
Global Payments Inc. (NYSE:GPN) had its target price increased by investment analysts at Morgan Stanley from $98.00 to $106.00 in a report released on Thursday. The firm presently has an “equal weight” rating on the business services provider’s stock. Morgan Stanley’s price target would indicate a potential upside of 2.31% from the stock’s previous close.
GPN has been the subject of a number of other reports. Robert W. Baird boosted their target price on shares of Global Payments from $106.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, September 28th. Nomura restated a “sell” rating and set a $83.00 target price on shares of Global Payments in a research report on Monday, October 16th. J P Morgan Chase & Co boosted their target price on shares of Global Payments from $106.00 to $107.00 and gave the company an “overweight” rating in a research report on Tuesday, September 12th. Credit Suisse Group restated an “outperform” rating on shares of Global Payments in a research report on Tuesday, September 5th. Finally, Royal Bank Of Canada restated a “buy” rating and set a $90.00 target price on shares of Global Payments in a research report on Friday, July 7th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and twenty-two have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $100.53.
Shares of Global Payments (NYSE GPN) traded up $0.80 on Thursday, hitting $103.61. 1,103,118 shares of the stock were exchanged, compared to its average volume of 985,764. The stock has a market capitalization of $15,799.38, a price-to-earnings ratio of 30.03, a PEG ratio of 1.90 and a beta of 1.14. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 1.39. Global Payments has a 12-month low of $64.63 and a 12-month high of $104.47.
Global Payments (NYSE:GPN) last announced its quarterly earnings data on Thursday, August 3rd. The business services provider reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.07. The firm had revenue of $847.90 million for the quarter, compared to analyst estimates of $837.76 million. Global Payments had a net margin of 6.65% and a return on equity of 18.32%. The business’s quarterly revenue was up 18.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.76 earnings per share. equities research analysts forecast that Global Payments will post 3.74 EPS for the current fiscal year.
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In related news, Director Robert H. B. Baldwin, Jr. sold 5,600 shares of the company’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $94.58, for a total transaction of $529,648.00. Following the completion of the sale, the director now owns 178,177 shares of the company’s stock, valued at approximately $16,851,980.66. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Alan M. Silberstein sold 600 shares of the company’s stock in a transaction dated Wednesday, October 18th. The shares were sold at an average price of $97.69, for a total transaction of $58,614.00. Following the sale, the director now directly owns 46,093 shares of the company’s stock, valued at approximately $4,502,825.17. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 153,549 shares of company stock valued at $14,698,521. Insiders own 0.93% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in Global Payments by 3.0% during the 2nd quarter. Vanguard Group Inc. now owns 15,211,802 shares of the business services provider’s stock valued at $1,373,930,000 after acquiring an additional 448,864 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Global Payments by 162.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,284,298 shares of the business services provider’s stock valued at $296,636,000 after acquiring an additional 2,030,880 shares in the last quarter. Janus Henderson Group PLC grew its stake in Global Payments by 11,779.8% during the 2nd quarter. Janus Henderson Group PLC now owns 2,292,798 shares of the business services provider’s stock valued at $207,086,000 after acquiring an additional 2,273,498 shares in the last quarter. Capital International Investors purchased a new stake in Global Payments during the 2nd quarter valued at about $173,900,000. Finally, Frontier Capital Management Co. LLC grew its stake in Global Payments by 0.9% during the 3rd quarter. Frontier Capital Management Co. LLC now owns 1,836,396 shares of the business services provider’s stock valued at $174,513,000 after acquiring an additional 16,898 shares in the last quarter. 97.95% of the stock is owned by 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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