Global Payments (GPN) Given New $143.00 Price Target at Cantor Fitzgerald

Global Payments (NYSE:GPN) had its price objective raised by stock analysts at Cantor Fitzgerald from $136.00 to $143.00 in a note issued to investors on Wednesday, The Fly reports. The firm currently has an “overweight” rating on the business services provider’s stock. Cantor Fitzgerald’s price objective points to a potential upside of 23.89% from the company’s previous close.

GPN has been the topic of a number of other reports. Zacks Investment Research lowered Global Payments from a “hold” rating to a “sell” rating in a research report on Monday, July 23rd. Morgan Stanley increased their price objective on Global Payments from $119.00 to $124.00 and gave the company a “$117.08” rating in a research report on Thursday, July 19th. Buckingham Research increased their price target on Global Payments from $120.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, August 3rd. Robert W. Baird increased their price target on Global Payments from $136.00 to $142.00 and gave the company an “outperform” rating in a research note on Wednesday, October 17th. Finally, Deutsche Bank increased their price target on Global Payments to $140.00 and gave the company a “buy” rating in a research note on Friday, September 14th. One analyst has rated the stock with a sell rating, five have given a hold rating and twenty-one have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $120.83.

Shares of GPN opened at $115.43 on Wednesday. The firm has a market capitalization of $17.50 billion, a price-to-earnings ratio of 28.78, a PEG ratio of 1.32 and a beta of 1.19. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.09 and a current ratio of 1.03. Global Payments has a 52 week low of $95.32 and a 52 week high of $129.25.

Global Payments (NYSE:GPN) last announced its quarterly earnings data on Tuesday, October 30th. The business services provider reported $1.44 EPS for the quarter, beating the Zacks’ consensus estimate of $1.39 by $0.05. The firm had revenue of $857.70 million for the quarter, compared to analyst estimates of $1.02 billion. Global Payments had a return on equity of 18.38% and a net margin of 17.48%. The business’s quarterly revenue was down 17.4% compared to the same quarter last year. During the same period last year, the company earned $1.15 EPS. Analysts forecast that Global Payments will post 4.85 EPS for the current year.

In related news, Director Robert H. B. Baldwin, Jr. sold 3,125 shares of the firm’s stock in a transaction on Tuesday, October 16th. The stock was sold at an average price of $116.07, for a total transaction of $362,718.75. Following the sale, the director now owns 80,324 shares of the company’s stock, valued at approximately $9,323,206.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Alan M. Silberstein sold 600 shares of the firm’s stock in a transaction on Monday, August 20th. The stock was sold at an average price of $119.01, for a total value of $71,406.00. Following the sale, the director now directly owns 44,269 shares in the company, valued at approximately $5,268,453.69. The disclosure for this sale can be found here. Insiders have sold a total of 92,955 shares of company stock worth $11,773,553 in the last ninety days. 0.98% of the stock is currently owned by company insiders.

A number of institutional investors have recently modified their holdings of the stock. Atria Investments LLC raised its stake in shares of Global Payments by 5.6% in the 3rd quarter. Atria Investments LLC now owns 8,156 shares of the business services provider’s stock valued at $1,039,000 after purchasing an additional 431 shares during the period. State of Alaska Department of Revenue raised its stake in shares of Global Payments by 1.9% in the 2nd quarter. State of Alaska Department of Revenue now owns 25,628 shares of the business services provider’s stock valued at $2,856,000 after purchasing an additional 469 shares during the period. First Republic Investment Management Inc. raised its stake in shares of Global Payments by 6.5% in the 2nd quarter. First Republic Investment Management Inc. now owns 8,079 shares of the business services provider’s stock valued at $901,000 after purchasing an additional 494 shares during the period. Riverhead Capital Management LLC raised its stake in shares of Global Payments by 9.8% in the 2nd quarter. Riverhead Capital Management LLC now owns 5,838 shares of the business services provider’s stock valued at $651,000 after purchasing an additional 519 shares during the period. Finally, North Star Asset Management Inc. raised its stake in shares of Global Payments by 0.3% in the 2nd quarter. North Star Asset Management Inc. now owns 164,406 shares of the business services provider’s stock valued at $18,330,000 after purchasing an additional 535 shares during the period. 96.64% of the stock is currently owned by institutional investors and hedge funds.

Global Payments Company Profile

Global Payments Inc provides payment technology and software solutions for credit cards, debit cards, electronic payments, and check-related services. 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, online reporting, industry compliance, and payment card industry security services.

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