Global Payments (NYSE:GPN) Stock Gets Price Target Boost from Sanford C. Bernstein

Key Points

• Sanford C. Bernstein raised its price target on Global Payments from $86 to $100 while maintaining a “market perform” rating; the new target implies about 0.74% downside from the stock’s then-current price.
• Analyst sentiment is mixed but averages to “Hold”: 13 analysts rate the shares Buy, 18 Hold, and 3 Sell, with an average target of $98.76.
• Global Payments reported quarterly EPS of $3.58 and revenue of $3.18 billion, both in line with consensus; revenue grew 36.1% year over year.

Global Payments (NYSE:GPN - Get Free Report) had its price objective increased by Sanford C. Bernstein from $86.00 to $100.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has a "market perform" rating on the business services provider's stock. Sanford C. Bernstein's price target points to a potential downside of 0.74% from the stock's current price.

Other equities research analysts also recently issued reports about the company. Robert W. Baird set a $120.00 price objective on Global Payments in a research note on Thursday, August 6th. Loop Capital began coverage on Global Payments in a research note on Thursday, September 24th. They set a "buy" rating and a $137.00 target price on the stock. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $106.00 target price (up from $102.00) on shares of Global Payments in a report on Monday, August 31st. Jefferies Financial Group raised shares of Global Payments from a "hold" rating to a "buy" rating in a research report on Thursday, August 6th. Finally, KeyCorp raised their price target on shares of Global Payments from $105.00 to $112.00 and gave the stock an "overweight" rating in a report on Friday, November 6th. Thirteen research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $98.76.

Global Payments Trading Down 0.8%

Global Payments stock traded down $0.84 during midday trading on Wednesday, reaching $100.75. The stock had a trading volume of 962,196 shares, compared to its average volume of 3,376,356. Global Payments has a twelve month low of $61.16 and a twelve month high of $102.90. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market cap of $26.66 billion, a price-to-earnings ratio of -22.03, a PEG ratio of 0.48 and a beta of 0.83. The firm's fifty day simple moving average is $87.05 and its two-hundred day simple moving average is $77.79.

Global Payments (NYSE:GPN - Get Free Report) last announced its earnings results on Thursday, November 5th. The business services provider reported $3.58 earnings per share (EPS) for the quarter, meeting the consensus estimate of $3.58. The company had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.18 billion. Global Payments had a negative net margin of 11.21% and a positive return on equity of 14.43%. The company's revenue was up 36.1% on a year-over-year basis. During the same period in the previous year, the business earned $3.26 EPS. Equities analysts anticipate that Global Payments will post 13.65 EPS for the current fiscal year.

Institutional Investors Weigh In On Global Payments

Several institutional investors have recently made changes to their positions in the company. Meeder Asset Management Inc. raised its position in Global Payments by 516.9% during the third quarter. Meeder Asset Management Inc. now owns 438 shares of the business services provider's stock valued at $36,000 after acquiring an additional 367 shares in the last quarter. Western Wealth Management LLC bought a new stake in Global Payments in the first quarter worth approximately $34,000. Nvwm LLC bought a new stake in Global Payments in the third quarter worth approximately $41,000. Jacobi Capital Management LLC bought a new stake in Global Payments in the third quarter worth approximately $47,000. Finally, Mather Group LLC. increased its stake in shares of Global Payments by 25.2% during the 3rd quarter. Mather Group LLC. now owns 622 shares of the business services provider's stock worth $51,000 after purchasing an additional 125 shares during the last quarter. 89.76% of the stock is currently owned by institutional investors and hedge funds.

About Global Payments

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.

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