Global Payments (NYSE:GPN - Get Free Report) had its price objective upped by research analysts at Wells Fargo & Company from $103.00 to $116.00 in a report issued on Friday, Benzinga reports. The firm currently has an "overweight" rating on the business services provider's stock. Wells Fargo & Company's target price would suggest a potential upside of 18.86% from the company's previous close.
GPN has been the topic of several other reports. Citigroup restated a "buy" rating on shares of Global Payments in a research note on Thursday, August 6th. Oppenheimer upgraded shares of Global Payments from a "market perform" rating to an "outperform" rating and set a $115.00 target price for the company in a research note on Thursday, October 8th. Morgan Stanley reiterated an "overweight" rating and set a $103.00 target price on shares of Global Payments in a research note on Thursday, August 6th. Argus set a $110.00 target price on shares of Global Payments and gave the stock a "buy" rating in a report on Thursday, August 6th. Finally, William Blair restated a "market perform" rating on shares of Global Payments in a research report on Friday, October 30th. Thirteen equities research 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's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $96.52.
Check Out Our Latest Stock Report on GPN
Global Payments Stock Up 2.8%
Global Payments stock traded up $2.61 during midday trading on Friday, hitting $97.59. The stock had a trading volume of 503,009 shares, compared to its average volume of 3,374,690. The business has a fifty day moving average price of $86.62 and a 200 day moving average price of $77.41. Global Payments has a 12 month low of $61.16 and a 12 month high of $101.32. The stock has a market cap of $25.82 billion, a P/E ratio of -32.59, a P/E/G ratio of 0.47 and a beta of 0.83. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.90.
Global Payments (NYSE:GPN - Get Free Report) last released its earnings results on Thursday, November 5th. The business services provider reported $3.58 EPS for the quarter, hitting analysts' consensus estimates 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 positive return on equity of 13.80% and a negative net margin of 9.16%. Global Payments's quarterly revenue was up 36.1% compared to the same quarter last year. During the same quarter last year, the business posted $3.26 EPS. Research analysts predict that Global Payments will post 13.64 EPS for the current year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GPN. Western Wealth Management LLC acquired a new position in Global Payments during the first quarter worth about $34,000. Nvwm LLC bought a new stake in Global Payments in the third quarter worth about $41,000. Jacobi Capital Management LLC acquired a new stake in Global Payments in the 3rd quarter valued at about $47,000. Geneos Wealth Management Inc. lifted its holdings in Global Payments by 48.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 765 shares of the business services provider's stock valued at $51,000 after acquiring an additional 250 shares during the last quarter. Finally, Fortitude Family Office LLC lifted its holdings in Global Payments by 365.7% in the 3rd quarter. Fortitude Family Office LLC now owns 624 shares of the business services provider's stock valued at $51,000 after acquiring an additional 490 shares during the last quarter. Institutional investors and hedge funds own 89.76% of the company's stock.
More Global Payments News
Here are the key news stories impacting Global Payments this week:
Global Payments Company Profile
(
Get Free Report)
Global Payments Inc NYSE: GPN is a financial technology and payments company that provides software and payment solutions to businesses, financial institutions and other organizations. Its services help merchants accept payments through credit cards, debit cards, digital wallets and other electronic methods across in-store, online and mobile channels.
The company offers payment processing, point-of-sale technology, commerce management software, payment security and reporting tools. Its solutions are used in industries including retail, restaurants, hospitality, healthcare, education and government.
Further Reading

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