Global Payments (NYSE:GPN) PT Raised to $202.00

Global Payments (NYSE:GPN) had its target price lifted by analysts at Oppenheimer from $190.00 to $202.00 in a report issued on Monday, The Fly reports. The firm presently has an “outperform” rating on the business services provider’s stock. Oppenheimer’s price objective indicates a potential upside of 21.27% from the stock’s previous close. Oppenheimer also issued estimates for Global Payments’ Q2 2020 earnings at $1.13 EPS, Q3 2020 earnings at $1.53 EPS, Q4 2020 earnings at $1.77 EPS, FY2020 earnings at $5.93 EPS, Q1 2021 earnings at $1.77 EPS, Q2 2021 earnings at $1.73 EPS, Q3 2021 earnings at $2.05 EPS, Q4 2021 earnings at $2.18 EPS and FY2021 earnings at $7.71 EPS.

Several other equities research analysts have also weighed in on the company. Credit Suisse Group lifted their price objective on Global Payments from $190.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, May 7th. Keefe, Bruyette & Woods lifted their target price on Global Payments from $161.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, May 7th. KeyCorp reduced their target price on Global Payments from $215.00 to $155.00 and set an “overweight” rating for the company in a report on Monday, March 23rd. JPMorgan Chase & Co. reduced their target price on Global Payments from $230.00 to $197.00 and set an “overweight” rating for the company in a report on Friday, March 27th. Finally, Wedbush raised Global Payments from a “neutral” rating to an “outperform” rating in a report on Monday, March 16th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twenty-seven have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $194.83.

NYSE GPN opened at $166.57 on Monday. The business’s fifty day moving average is $177.04 and its 200-day moving average is $175.63. Global Payments has a one year low of $105.54 and a one year high of $209.62. The stock has a market capitalization of $48.73 billion, a price-to-earnings ratio of 78.20, a PEG ratio of 1.88 and a beta of 1.15. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 1.34.

Global Payments (NYSE:GPN) last announced its quarterly earnings data on Wednesday, May 6th. The business services provider reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.05. Global Payments had a return on equity of 6.46% and a net margin of 7.79%. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same quarter last year, the firm posted $1.34 EPS. The firm’s revenue for the quarter was up 115.6% on a year-over-year basis. Research analysts expect that Global Payments will post 5.66 EPS for the current fiscal year.

In other Global Payments news, EVP Guido Francesco Sacchi sold 8,754 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $174.31, for a total value of $1,525,909.74. Following the completion of the sale, the executive vice president now owns 36,123 shares in the company, valued at $6,296,600.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John Thompson Turner sold 379 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $181.93, for a total value of $68,951.47. Following the completion of the sale, the director now owns 4,088 shares of the company’s stock, valued at approximately $743,729.84. The disclosure for this sale can be found here. Insiders sold a total of 11,397 shares of company stock valued at $1,976,649 in the last 90 days. 0.88% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. lifted its position in Global Payments by 3.9% in the first quarter. BlackRock Inc. now owns 21,378,887 shares of the business services provider’s stock valued at $3,083,477,000 after purchasing an additional 799,929 shares during the last quarter. Wellington Management Group LLP lifted its position in Global Payments by 49.3% in the first quarter. Wellington Management Group LLP now owns 14,221,002 shares of the business services provider’s stock valued at $2,051,094,000 after purchasing an additional 4,693,451 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in Global Payments by 0.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 8,809,418 shares of the business services provider’s stock valued at $1,270,583,000 after purchasing an additional 48,226 shares during the last quarter. Capital International Investors lifted its position in Global Payments by 0.4% in the fourth quarter. Capital International Investors now owns 5,903,102 shares of the business services provider’s stock valued at $1,077,670,000 after purchasing an additional 24,814 shares during the last quarter. Finally, Lone Pine Capital LLC lifted its position in Global Payments by 52.7% in the first quarter. Lone Pine Capital LLC now owns 4,954,572 shares of the business services provider’s stock valued at $714,598,000 after purchasing an additional 1,709,354 shares during the last quarter. Hedge funds and other institutional investors own 87.95% of the company’s stock.

Global Payments Company Profile

Global Payments Inc provides payment technology and software solutions for card, electronic, check, and digital-based payments. The company operates in three segments: North America, Europe, and Asia-Pacific. It offers authorization services, settlement and funding services, customer support and help-desk functions, chargeback resolution, terminal rental, sales and deployment, payment security services, consolidated billing and statements, and online reporting services.

Recommended Story: Gap Up Stocks

The Fly

Analyst Recommendations for Global Payments (NYSE:GPN)

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.