Global Payments (NYSE:GPN) PT Lowered to $200.00

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Global Payments (NYSE:GPN) had its target price dropped by research analysts at Truist from $235.00 to $200.00 in a report released on Friday, The Fly reports. Truist’s price objective indicates a potential upside of 28.01% from the company’s current price.

Other equities analysts also recently issued reports about the stock. Rosenblatt Securities upped their price objective on shares of Global Payments from $183.00 to $198.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Guggenheim boosted their price target on shares of Global Payments from $191.00 to $212.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. Morgan Stanley boosted their price target on shares of Global Payments from $161.00 to $172.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 11th. Loop Capital began coverage on shares of Global Payments in a research report on Tuesday, September 22nd. They set a “buy” rating and a $199.00 price target on the stock. Finally, Oppenheimer reiterated a “buy” rating and set a $207.00 price target on shares of Global Payments in a research report on Friday. Six research analysts have rated the stock with a hold rating and thirty have given a buy rating to the stock. Global Payments presently has an average rating of “Buy” and a consensus target price of $202.37.

Global Payments stock traded up $0.07 during mid-day trading on Friday, hitting $156.24. The company’s stock had a trading volume of 47,553 shares, compared to its average volume of 2,035,541. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market cap of $46.73 billion, a price-to-earnings ratio of 104.84, a price-to-earnings-growth ratio of 1.42 and a beta of 1.10. The business has a 50 day moving average price of $175.57 and a 200-day moving average price of $171.90. Global Payments has a 12 month low of $105.54 and a 12 month high of $209.62.

Global Payments (NYSE:GPN) last issued its quarterly earnings data on Thursday, October 29th. The business services provider reported $1.71 EPS for the quarter, beating the consensus estimate of $1.66 by $0.05. The firm had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.73 billion. Global Payments had a net margin of 5.68% and a return on equity of 5.61%. The company’s quarterly revenue was up 73.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.70 earnings per share. On average, equities research analysts expect that Global Payments will post 5.97 earnings per share for the current fiscal year.

In other Global Payments news, Director William I. Jacobs sold 500 shares of the stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $171.46, for a total value of $85,730.00. Following the transaction, the director now directly owns 24,393 shares in the company, valued at $4,182,423.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William I. Jacobs sold 7,224 shares of the stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $174.90, for a total transaction of $1,263,477.60. Following the completion of the transaction, the director now owns 32,117 shares in the company, valued at $5,617,263.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,224 shares of company stock worth $1,436,788. 0.88% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GPN. Point72 Asset Management L.P. raised its position in Global Payments by 441.4% in the second quarter. Point72 Asset Management L.P. now owns 651,551 shares of the business services provider’s stock worth $110,516,000 after acquiring an additional 531,201 shares during the period. Ceredex Value Advisors LLC purchased a new stake in shares of Global Payments in the second quarter worth $61,284,000. Goldman Sachs Group Inc. increased its stake in shares of Global Payments by 18.6% in the second quarter. Goldman Sachs Group Inc. now owns 1,795,430 shares of the business services provider’s stock worth $304,541,000 after purchasing an additional 281,375 shares in the last quarter. Holocene Advisors LP increased its stake in shares of Global Payments by 5,985.4% in the second quarter. Holocene Advisors LP now owns 175,563 shares of the business services provider’s stock worth $29,779,000 after purchasing an additional 172,678 shares in the last quarter. Finally, Level Four Advisory Services LLC increased its stake in shares of Global Payments by 504.9% in the second quarter. Level Four Advisory Services LLC now owns 200,260 shares of the business services provider’s stock worth $33,968,000 after purchasing an additional 167,156 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Global Payments Company Profile

Global Payments Inc provides payment technology and software solutions for card, electronic, check, and digital-based payments. The company operates in three segments: North America, Europe, and Asia-Pacific. It offers authorization services, settlement and funding services, customer support and help-desk functions, chargeback resolution, terminal rental, sales and deployment, payment security services, consolidated billing and statements, and online reporting services.

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