Global Payments (NYSE:GPN) Stock Gets Price Target Increase from JPMorgan Chase & Co.

Global Payments (NYSE:GPN) had its price objective upped by investment analysts at JPMorgan Chase & Co. from $95.00 to $100.00 in a report issued on Friday, Benzinga reports. The brokerage currently 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 stock’s previous close.

Other equities analysts also recently issued reports about the company. Cantor Fitzgerald raised their price target on Global Payments from $91.00 to $103.00 and gave the company a “neutral” rating in a report on Monday. TD Cowen upped their price target on shares of Global Payments from $90.00 to $95.00 and gave the stock a “hold” rating in a research note on Wednesday, August 26th. Keefe, Bruyette & Woods increased their price objective on shares of Global Payments from $76.00 to $95.00 and gave the company a “market perform” rating in a research report on Thursday, August 6th. Wolfe Research reissued an “outperform” rating and set a $125.00 price objective (up from $110.00) on shares of Global Payments in a research report on Tuesday, August 25th. Finally, Bank of America restated a “buy” rating on shares of Global Payments in a research note on Friday. Thirteen investment analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, Global Payments currently has a consensus rating of “Hold” and an average price target of $97.79.

Global Payments Stock Performance

Global Payments stock opened at $97.42 on Friday. 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 company has a market capitalization of $25.78 billion, a P/E ratio of -21.36, a PEG ratio of 0.47 and a beta of 0.83. The stock’s 50 day moving average is $86.72 and its 200 day moving average is $77.54.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Gtcr LLC bought a new position in shares of Global Payments in the 1st quarter worth approximately $2,911,939,000. Pzena Investment Management LLC bought a new stake in Global Payments during the second quarter valued at approximately $848,344,000. Dimensional Fund Advisors LP grew its position in Global Payments by 1.1% during the first quarter. Dimensional Fund Advisors LP now owns 2,117,172 shares of the business services provider’s stock valued at $142,478,000 after buying an additional 23,293 shares during the period. Deutsche Bank AG purchased a new stake in Global Payments during the second quarter valued at approximately $138,781,000. Finally, Legal & General Group Plc purchased a new stake in Global Payments during the second quarter valued at approximately $120,036,000. 89.76% of the stock is owned by institutional investors.

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.