Global Payments (NYSE:GPN - Get Free Report) had its price target reduced by equities research analysts at Keefe, Bruyette & Woods from $140.00 to $135.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an "outperform" rating on the business services provider's stock. Keefe, Bruyette & Woods' price objective would indicate a potential upside of 56.98% from the stock's previous close.
A number of other brokerages also recently weighed in on GPN. Morgan Stanley dropped their target price on shares of Global Payments from $166.00 to $163.00 and set an "overweight" rating for the company in a research note on Friday, February 14th. Bank of America dropped their price objective on shares of Global Payments from $156.00 to $149.00 and set a "buy" rating for the company in a research report on Friday, February 14th. Stephens lowered Global Payments from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $125.00 to $120.00 in a research report on Friday, January 10th. The Goldman Sachs Group reissued a "neutral" rating and issued a $122.00 target price (down from $155.00) on shares of Global Payments in a research note on Thursday, January 9th. Finally, StockNews.com raised Global Payments from a "hold" rating to a "buy" rating in a research note on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $134.10.
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Global Payments Price Performance
Shares of GPN traded down $6.98 on Monday, hitting $86.00. The company's stock had a trading volume of 1,879,817 shares, compared to its average volume of 2,158,259. The company has a market capitalization of $21.14 billion, a PE ratio of 13.91, a PEG ratio of 0.86 and a beta of 0.97. Global Payments has a fifty-two week low of $84.56 and a fifty-two week high of $129.35. The company has a 50 day moving average price of $102.83 and a 200 day moving average price of $107.01. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.97 and a quick ratio of 0.93.
Global Payments (NYSE:GPN - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The business services provider reported $2.84 EPS for the quarter, missing analysts' consensus estimates of $2.98 by ($0.14). The business had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.31 billion. Global Payments had a return on equity of 12.21% and a net margin of 15.54%. On average, research analysts anticipate that Global Payments will post 11.89 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Global Payments
A number of institutional investors and hedge funds have recently added to or reduced their stakes in GPN. Norges Bank bought a new stake in shares of Global Payments in the fourth quarter valued at about $345,823,000. Pzena Investment Management LLC increased its stake in Global Payments by 25.0% in the 4th quarter. Pzena Investment Management LLC now owns 8,298,846 shares of the business services provider's stock valued at $929,969,000 after buying an additional 1,659,984 shares during the last quarter. Contour Asset Management LLC bought a new stake in Global Payments during the 4th quarter worth about $147,695,000. Focused Investors LLC acquired a new position in shares of Global Payments during the 4th quarter worth about $99,969,000. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Global Payments by 1,559.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 548,833 shares of the business services provider's stock valued at $61,502,000 after acquiring an additional 515,763 shares in the last quarter. 89.76% of the stock is owned by institutional investors and hedge funds.
About Global Payments
(
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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.
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