Wolfe Research Reaffirms Peer Perform Rating for Global Payments (NYSE:GPN)

Global Payments (NYSE:GPN - Get Free Report)'s stock had its "peer perform" rating reiterated by equities researchers at Wolfe Research in a research report issued to clients and investors on Wednesday,Benzinga reports.

A number of other research firms also recently issued reports on GPN. Evercore ISI began coverage on shares of Global Payments in a research note on Wednesday, April 9th. They issued an "in-line" rating and a $85.00 price target on the stock. Citigroup restated a "buy" rating on shares of Global Payments in a research note on Monday. StockNews.com raised Global Payments from a "hold" rating to a "buy" rating in a research note on Thursday, January 23rd. Keefe, Bruyette & Woods cut Global Payments from an "outperform" rating to a "market perform" rating and lowered their target price for the company from $135.00 to $78.00 in a report on Thursday, April 17th. Finally, Wells Fargo & Company cut their price target on shares of Global Payments from $105.00 to $77.00 and set an "equal weight" rating on the stock in a research note on Monday. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $117.36.

Global Payments Stock Up 5.8 %

Shares of NYSE GPN opened at $71.39 on Wednesday. The company has a market capitalization of $17.55 billion, a P/E ratio of 11.55, a P/E/G ratio of 0.86 and a beta of 0.97. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.97 and a quick ratio of 0.93. The company has a 50 day simple moving average of $94.01 and a 200-day simple moving average of $104.52. Global Payments has a 1 year low of $65.93 and a 1 year high of $127.66.

Global Payments (NYSE:GPN - Get Free Report) last posted its earnings results 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 analysts' expectations of $2.31 billion. Global Payments had a net margin of 15.54% and a return on equity of 12.21%. On average, equities research analysts predict that Global Payments will post 11.89 earnings per share for the current year.

Hedge Funds Weigh In On Global Payments

Hedge funds have recently made changes to their positions in the company. Sage Capital Advisors llc grew its stake in Global Payments by 0.3% during the 4th quarter. Sage Capital Advisors llc now owns 28,232 shares of the business services provider's stock worth $3,164,000 after buying an additional 96 shares during the last quarter. Private Trust Co. NA grew its position in shares of Global Payments by 11.2% during the fourth quarter. Private Trust Co. NA now owns 992 shares of the business services provider's stock worth $111,000 after acquiring an additional 100 shares during the last quarter. Truvestments Capital LLC increased its holdings in shares of Global Payments by 2.9% in the 4th quarter. Truvestments Capital LLC now owns 3,685 shares of the business services provider's stock valued at $413,000 after acquiring an additional 103 shares during the period. Greenleaf Trust raised its position in Global Payments by 5.9% in the 4th quarter. Greenleaf Trust now owns 2,068 shares of the business services provider's stock valued at $232,000 after purchasing an additional 115 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its stake in Global Payments by 1.1% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 10,963 shares of the business services provider's stock worth $1,228,000 after purchasing an additional 117 shares during the period. Hedge funds and other institutional investors own 89.76% of the company's stock.

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.

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