Global Payments (NYSE:GPN) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Global Payments (NYSE:GPN - Get Free Report) had its price target increased by Keefe, Bruyette & Woods from $81.00 to $85.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a "market perform" rating on the business services provider's stock. Keefe, Bruyette & Woods' price target would suggest a potential upside of 5.32% from the stock's previous close.

Several other analysts have also issued reports on GPN. Robert W. Baird dropped their price target on shares of Global Payments from $145.00 to $100.00 and set an "outperform" rating on the stock in a research report on Monday, April 21st. Citigroup reaffirmed a "buy" rating on shares of Global Payments in a research report on Monday, April 21st. Williams Trading set a $75.00 price target on shares of Global Payments in a research report on Friday, April 18th. TD Cowen lowered shares of Global Payments from a "buy" rating to a "hold" rating and set a $78.00 price target on the stock. in a research report on Monday, April 21st. Finally, Evercore ISI assumed coverage on shares of Global Payments in a research report on Wednesday, April 9th. They set an "in-line" rating and a $85.00 price target on the stock. One analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $111.09.

Global Payments Stock Up 0.1%

Shares of Global Payments stock traded up $0.04 on Wednesday, hitting $80.70. The company had a trading volume of 414,699 shares, compared to its average volume of 2,856,603. Global Payments has a twelve month low of $65.93 and a twelve month high of $120.00. The stock has a 50-day moving average of $78.36 and a 200-day moving average of $92.27. The firm has a market capitalization of $19.68 billion, a P/E ratio of 13.02, a P/E/G ratio of 0.76 and a beta of 0.94. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.94 and a quick ratio of 0.94.

Global Payments (NYSE:GPN - Get Free Report) last released its earnings results on Tuesday, May 6th. The business services provider reported $2.82 earnings per share for the quarter, beating analysts' consensus estimates of $2.73 by $0.09. The business had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.20 billion. Global Payments had a net margin of 15.48% and a return on equity of 12.33%. The firm's revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter last year, the firm earned $2.59 earnings per share. Research analysts predict that Global Payments will post 11.89 earnings per share for the current year.

Hedge Funds Weigh In On Global Payments

A number of hedge funds have recently bought and sold shares of GPN. Optiver Holding B.V. purchased a new position in Global Payments during the 4th quarter worth $28,000. NBC Securities Inc. purchased a new position in shares of Global Payments in the 1st quarter worth about $30,000. Larson Financial Group LLC boosted its holdings in shares of Global Payments by 546.6% in the 1st quarter. Larson Financial Group LLC now owns 375 shares of the business services provider's stock worth $37,000 after buying an additional 317 shares during the last quarter. Zions Bancorporation National Association UT purchased a new position in shares of Global Payments in the 1st quarter worth about $37,000. Finally, True Wealth Design LLC purchased a new position in shares of Global Payments in the 4th quarter worth about $40,000. 89.76% of the stock is owned by hedge funds and other institutional investors.

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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