Global Payments (NYSE:GPN – Get Free Report) had its price objective reduced by research analysts at Robert W. Baird from $182.00 to $150.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the business services provider’s stock. Robert W. Baird’s target price would suggest a potential upside of 34.69% from the company’s current price.
A number of other equities analysts also recently weighed in on the stock. Mizuho reaffirmed a “neutral” rating and issued a $129.00 price target on shares of Global Payments in a research note on Wednesday, March 27th. StockNews.com downgraded Global Payments from a “buy” rating to a “hold” rating in a research note on Thursday. Barclays lowered their price target on Global Payments from $170.00 to $160.00 and set an “overweight” rating for the company in a research note on Tuesday, April 16th. B. Riley raised their price objective on shares of Global Payments from $180.00 to $186.00 and gave the company a “buy” rating in a research report on Monday, February 5th. Finally, TheStreet raised shares of Global Payments from a “c” rating to a “b-” rating in a research report on Thursday, February 1st. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $150.00.
Read Our Latest Stock Report on GPN
Global Payments Trading Up 0.8 %
Global Payments (NYSE:GPN – Get Free Report) last released its earnings results on Wednesday, February 14th. The business services provider reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.64 by $0.01. Global Payments had a return on equity of 11.72% and a net margin of 13.40%. The company had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.18 billion. During the same quarter in the prior year, the company earned $2.30 earnings per share. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. As a group, sell-side analysts expect that Global Payments will post 10.94 earnings per share for the current year.
Hedge Funds Weigh In On Global Payments
Hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC boosted its stake in Global Payments by 40.7% in the 3rd quarter. FMR LLC now owns 9,346,779 shares of the business services provider’s stock valued at $1,078,525,000 after buying an additional 2,703,434 shares in the last quarter. Boston Partners boosted its stake in shares of Global Payments by 40.5% in the 3rd quarter. Boston Partners now owns 5,142,771 shares of the business services provider’s stock valued at $591,613,000 after purchasing an additional 1,481,714 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Global Payments by 2.7% in the 4th quarter. Franklin Resources Inc. now owns 5,087,801 shares of the business services provider’s stock worth $646,151,000 after purchasing an additional 132,635 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Global Payments by 3.4% during the 3rd quarter. Victory Capital Management Inc. now owns 3,499,860 shares of the business services provider’s stock worth $403,849,000 after purchasing an additional 116,664 shares in the last quarter. Finally, Morgan Stanley lifted its holdings in Global Payments by 2.7% during the 3rd quarter. Morgan Stanley now owns 3,402,869 shares of the business services provider’s stock valued at $392,657,000 after purchasing an additional 89,057 shares during 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.
See Also
- Five stocks we like better than Global Payments
- How to invest in marijuana stocks in 7 steps
- MarketBeat Week in Review – 4/29 – 5/3
- Retail Stocks Investing, Explained
- Apple’s Earnings Show Investors Its Strength and Its Weakness
- The Significance of Brokerage Rankings in Stock Selection
- Bargain Alert: 3 Large Caps With Extremely Oversold RSIs
Receive News & Ratings for Global Payments Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Global Payments and related companies with MarketBeat.com's FREE daily email newsletter.