Morgan Stanley Increases Global Payments (NYSE:GPN) Price Target to $141.00

Global Payments (NYSE:GPNGet Rating) had its target price increased by analysts at Morgan Stanley from $123.00 to $141.00 in a research report issued on Tuesday, Marketbeat Ratings reports. The brokerage currently has an “equal weight” rating on the business services provider’s stock. Morgan Stanley’s price objective indicates a potential upside of 8.34% from the stock’s current price.

Several other research analysts also recently issued reports on GPN. Wolfe Research lowered their price objective on shares of Global Payments from $200.00 to $160.00 in a research report on Wednesday, July 20th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Global Payments from $222.00 to $188.00 and set a “maintains” rating on the stock in a report on Tuesday. Wells Fargo & Company lowered their target price on shares of Global Payments from $185.00 to $148.00 and set an “overweight” rating on the stock in a report on Thursday, July 14th. The Goldman Sachs Group assumed coverage on shares of Global Payments in a report on Tuesday, May 17th. They issued a “neutral” rating and a $151.00 target price on the stock. Finally, Robert W. Baird lifted their target price on shares of Global Payments from $144.00 to $156.00 and gave the company a “maintains” rating in a report on Tuesday. Five research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $175.14.

Global Payments Trading Up 2.9 %

Shares of Global Payments stock opened at $130.15 on Tuesday. Global Payments has a 1 year low of $105.52 and a 1 year high of $179.27. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.06 and a current ratio of 0.87. The company has a market capitalization of $36.64 billion, a P/E ratio of 723.10, a PEG ratio of 0.83 and a beta of 1.04. The company’s fifty day moving average is $118.48 and its two-hundred day moving average is $129.45.

Global Payments (NYSE:GPNGet Rating) last issued its quarterly earnings data on Monday, August 1st. The business services provider reported $2.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.34 by $0.02. Global Payments had a net margin of 0.87% and a return on equity of 9.24%. The company had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.09 billion. During the same period last year, the firm posted $1.92 EPS. Global Payments’s revenue for the quarter was up 6.7% on a year-over-year basis. Analysts forecast that Global Payments will post 9.05 earnings per share for the current year.

Global Payments announced that its board has initiated a share repurchase plan on Monday, August 1st that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the business services provider to repurchase up to 4.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Activity at Global Payments

In related news, EVP David Lawrence Green sold 16,252 shares of the business’s stock in a transaction that occurred on Friday, June 3rd. The shares were sold at an average price of $130.10, for a total value of $2,114,385.20. Following the completion of the sale, the executive vice president now directly owns 97,818 shares in the company, valued at $12,726,121.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.19% of the stock is owned by insiders.

Institutional Investors Weigh In On Global Payments

A number of institutional investors have recently bought and sold shares of GPN. Victory Capital Management Inc. grew its holdings in Global Payments by 2,266.8% in the fourth quarter. Victory Capital Management Inc. now owns 2,895,022 shares of the business services provider’s stock valued at $391,349,000 after purchasing an additional 2,772,706 shares during the period. Norges Bank purchased a new stake in Global Payments during the fourth quarter worth approximately $352,599,000. Boston Partners grew its stake in Global Payments by 68.2% during the fourth quarter. Boston Partners now owns 4,705,549 shares of the business services provider’s stock worth $636,935,000 after buying an additional 1,908,708 shares during the period. Steadfast Capital Management LP grew its stake in Global Payments by 11,555.1% during the first quarter. Steadfast Capital Management LP now owns 1,787,900 shares of the business services provider’s stock worth $244,656,000 after buying an additional 1,772,560 shares during the period. Finally, Rivulet Capital LLC purchased a new stake in Global Payments during the fourth quarter worth approximately $114,903,000. 84.53% of the stock is currently owned by hedge funds and other institutional investors.

Global Payments Company Profile

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Global Payments Inc provides payment technology and software solutions for card, electronic, check, and digital-based payments in the Americas, Europe, and the Asia-Pacific. It operates through three segments: Merchant Solutions, Issuer Solutions, and Business and Consumer Solutions. The Merchant Solutions segment 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 on-line reporting services.

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Analyst Recommendations for Global Payments (NYSE:GPN)

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