Global Payments (NYSE:GPN) Rating Reiterated by Royal Bank of Canada

Global Payments (NYSE:GPNGet Free Report)‘s stock had its “outperform” rating reaffirmed by equities researchers at Royal Bank of Canada in a report issued on Wednesday, Benzinga reports. They currently have a $172.00 price target on the business services provider’s stock. Royal Bank of Canada’s target price indicates a potential upside of 80.81% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. TD Cowen cut their target price on Global Payments from $152.00 to $125.00 and set a “buy” rating on the stock in a research report on Friday, June 21st. Monness Crespi & Hardt cut their target price on Global Payments from $175.00 to $165.00 and set a “buy” rating on the stock in a research report on Friday, May 3rd. BMO Capital Markets dropped their price target on Global Payments from $143.00 to $128.00 and set a “market perform” rating on the stock in a research report on Thursday, May 2nd. Evercore ISI dropped their price target on Global Payments from $170.00 to $160.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. Finally, Susquehanna dropped their price target on Global Payments from $160.00 to $157.00 and set a “positive” rating on the stock in a research report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat.com, Global Payments presently has an average rating of “Moderate Buy” and an average target price of $145.32.

Read Our Latest Stock Analysis on Global Payments

Global Payments Price Performance

Shares of Global Payments stock traded down $0.66 during trading on Wednesday, hitting $95.13. The stock had a trading volume of 41,052 shares, compared to its average volume of 2,307,467. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a market cap of $24.28 billion, a P/E ratio of 18.88, a PEG ratio of 0.61 and a beta of 0.98. The business has a fifty day moving average of $101.08 and a two-hundred day moving average of $119.97. Global Payments has a fifty-two week low of $91.60 and a fifty-two week high of $141.77.

Global Payments (NYSE:GPNGet Free Report) last announced its quarterly earnings data on Wednesday, May 1st. The business services provider reported $2.48 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.07. The business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.17 billion. Global Payments had a return on equity of 11.72% and a net margin of 13.40%. On average, sell-side analysts expect that Global Payments will post 11.09 earnings per share for the current fiscal year.

Insider Activity at Global Payments

In related news, VP Andrea M. Carter sold 3,300 shares of the stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $111.34, for a total transaction of $367,422.00. Following the completion of the sale, the vice president now owns 25,209 shares in the company, valued at approximately $2,806,770.06. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.98% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Global Payments

Large investors have recently added to or reduced their stakes in the company. Turtle Creek Wealth Advisors LLC acquired a new position in Global Payments in the 4th quarter valued at approximately $30,000. New Covenant Trust Company N.A. acquired a new position in Global Payments in the 1st quarter valued at approximately $31,000. LRI Investments LLC acquired a new position in Global Payments in the 1st quarter valued at approximately $32,000. McGlone Suttner Wealth Management Inc. acquired a new position in Global Payments in the 4th quarter valued at approximately $41,000. Finally, West Paces Advisors Inc. raised its holdings in shares of Global Payments by 54.5% in the 1st quarter. West Paces Advisors Inc. now owns 309 shares of the business services provider’s stock worth $41,000 after buying an additional 109 shares in the last quarter. Institutional investors and hedge funds own 89.76% of the company’s stock.

About Global Payments

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Global Payments (NYSE:GPN)

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