Global Payments (NYSE:GPN) Now Covered by Analysts at Wells Fargo & Company

Equities researchers at Wells Fargo & Company began coverage on shares of Global Payments (NYSE:GPNGet Free Report) in a report released on Wednesday, MarketBeat.com reports. The firm set an “equal weight” rating and a $100.00 price target on the business services provider’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 6.79% from the stock’s previous close.

Several other equities analysts have also recently weighed in on the stock. Citigroup lowered their price objective on shares of Global Payments from $163.00 to $155.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Keefe, Bruyette & Woods dropped their price target on shares of Global Payments from $158.00 to $150.00 and set an “outperform” rating on the stock in a research note on Thursday, May 2nd. JPMorgan Chase & Co. upped their price objective on Global Payments from $145.00 to $159.00 and gave the stock a “neutral” rating in a research note on Thursday, February 15th. BMO Capital Markets decreased their target price on Global Payments from $143.00 to $128.00 and set a “market perform” rating on the stock in a report on Thursday, May 2nd. Finally, Robert W. Baird cut their price target on Global Payments from $182.00 to $150.00 and set an “outperform” rating for the company in a report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $147.36.

Check Out Our Latest Research Report on Global Payments

Global Payments Price Performance

Shares of GPN opened at $93.64 on Wednesday. The firm has a fifty day simple moving average of $111.68 and a two-hundred day simple moving average of $123.36. The firm has a market cap of $23.90 billion, a PE ratio of 18.58, a P/E/G ratio of 0.62 and a beta of 0.98. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.68. Global Payments has a 1-year low of $93.15 and a 1-year high of $141.77.

Global Payments (NYSE:GPNGet Free Report) last posted its quarterly earnings data on Wednesday, May 1st. The business services provider reported $2.48 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $0.07. Global Payments had a return on equity of 11.72% and a net margin of 13.40%. The company had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.17 billion. On average, equities analysts anticipate that Global Payments will post 11.08 EPS for the current year.

Insider Activity

In related news, VP Andrea M. Carter sold 3,300 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $111.34, for a total value of $367,422.00. Following the sale, the vice president now owns 25,209 shares in the company, valued at $2,806,770.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.98% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC lifted its stake in shares of Global Payments by 18.8% in the 1st quarter. Global Retirement Partners LLC now owns 524 shares of the business services provider’s stock valued at $70,000 after purchasing an additional 83 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in Global Payments by 1.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 4,752 shares of the business services provider’s stock valued at $635,000 after buying an additional 90 shares during the period. Fulton Bank N.A. lifted its position in Global Payments by 1.7% in the fourth quarter. Fulton Bank N.A. now owns 5,409 shares of the business services provider’s stock worth $687,000 after buying an additional 93 shares during the last quarter. Fidelis Capital Partners LLC boosted its stake in Global Payments by 5.1% during the first quarter. Fidelis Capital Partners LLC now owns 1,930 shares of the business services provider’s stock worth $258,000 after buying an additional 93 shares during the period. Finally, Wedmont Private Capital increased its position in Global Payments by 0.7% during the fourth quarter. Wedmont Private Capital now owns 13,740 shares of the business services provider’s stock valued at $1,828,000 after acquiring an additional 98 shares during the last quarter. Hedge funds and other institutional investors 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.

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Analyst Recommendations for Global Payments (NYSE:GPN)

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