Global Payments (NYSE:GPN) Given New $103.00 Price Target at Cantor Fitzgerald

Global Payments (NYSE:GPN) had its price target hoisted by Cantor Fitzgerald from $91.00 to $103.00 in a report released on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the business services provider’s stock. Cantor Fitzgerald‘s target price indicates a potential upside of 5.73% from the company’s previous close.

Other analysts also recently issued research reports about the company. Argus set a $110.00 price target on Global Payments and gave the company a “buy” rating in a research note on Thursday, August 6th. Citigroup reaffirmed a “buy” rating on shares of Global Payments in a research report on Thursday, August 6th. Wolfe Research reaffirmed 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. Loop Capital initiated coverage on Global Payments in a report on Thursday, September 24th. They set a “buy” rating and a $137.00 price objective for the company. Finally, Morgan Stanley reissued an “overweight” rating and issued a $103.00 target price on shares of Global Payments in a research report on Thursday, August 6th. Thirteen analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Global Payments has an average rating of “Hold” and an average price target of $97.79.

Global Payments Stock Performance

Shares of GPN opened at $97.42 on Monday. The firm has a market cap of $25.78 billion, a P/E ratio of -21.36, a PEG ratio of 0.47 and a beta of 0.83. Global Payments has a twelve month low of $61.16 and a twelve month high of $101.32. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.82 and a current ratio of 0.82. The firm’s 50 day moving average price is $86.72 and its two-hundred day moving average price is $77.54.

Global Payments (NYSE:GPN) last issued its quarterly earnings data on Thursday, November 5th. The business services provider reported $3.58 earnings per share (EPS) for the quarter, hitting 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 during the quarter, compared to the consensus estimate of $3.18 billion. During the same quarter in the prior year, the firm earned $3.26 earnings per share. The firm’s revenue was up 36.1% compared to the same quarter last year. On average, analysts forecast that Global Payments will post 13.65 EPS for the current fiscal year.

Institutional Investors Weigh In On Global Payments

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mather Group LLC. grew its position in shares of Global Payments by 25.2% in the third quarter. Mather Group LLC. now owns 622 shares of the business services provider’s stock valued at $51,000 after purchasing an additional 125 shares during the last quarter. IFP Advisors Inc increased its stake in shares of Global Payments by 9.8% during the second quarter. IFP Advisors Inc now owns 1,433 shares of the business services provider’s stock worth $104,000 after purchasing an additional 128 shares during the period. Cidel Asset Management Inc. lifted its holdings in Global Payments by 3.4% during the 3rd quarter. Cidel Asset Management Inc. now owns 4,575 shares of the business services provider’s stock worth $374,000 after purchasing an additional 149 shares during the last quarter. Financial Network Wealth Advisors LLC lifted its holdings in Global Payments by 30.9% during the 3rd quarter. Financial Network Wealth Advisors LLC now owns 674 shares of the business services provider’s stock worth $55,000 after purchasing an additional 159 shares during the last quarter. Finally, Southern Financial Group LLC lifted its holdings in Global Payments by 5.1% during the 1st quarter. Southern Financial Group LLC now owns 3,651 shares of the business services provider’s stock worth $246,000 after purchasing an additional 178 shares during the last quarter. 89.76% of the stock is currently owned by institutional investors and hedge funds.

Global Payments Company Profile

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.