TD Cowen Lowers Global Payments (NYSE:GPN) Price Target to $125.00

Global Payments (NYSE:GPN) had its target price cut by stock analysts at TD Cowen from $152.00 to $125.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the business services provider’s stock. TD Cowen’s price objective suggests a potential upside of 31.54% from the company’s previous close.

A number of other equities analysts have also weighed in on GPN. Wells Fargo & Company started coverage on shares of Global Payments in a research report on Wednesday, June 12th. They set an “equal weight” rating and a $100.00 target price for the company. BMO Capital Markets dropped their target price on shares of Global Payments from $143.00 to $128.00 and set a “market perform” rating for the company in a research report on Thursday, May 2nd. Barclays dropped their target price on shares of Global Payments from $160.00 to $145.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. Susquehanna dropped their target price on shares of Global Payments from $160.00 to $157.00 and set a “positive” rating for the company in a research report on Thursday, May 2nd. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Global Payments from $158.00 to $150.00 and set an “outperform” rating for the company in a research report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-one have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $146.39.

Global Payments Stock Performance

GPN opened at $95.03 on Friday. The firm has a market cap of $24.26 billion, a P/E ratio of 18.86, a PEG ratio of 0.60 and a beta of 0.98. Global Payments has a 1-year low of $91.60 and a 1-year high of $141.77. The company has a 50 day simple moving average of $107.81 and a two-hundred day simple moving average of $122.42. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.92 and a quick ratio of 0.92.

Global Payments (NYSE:GPN) last posted its quarterly earnings results on Wednesday, May 1st. The business services provider reported $2.48 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 13.40% and a return on equity of 11.72%. Equities analysts forecast that Global Payments will post 11.08 earnings per share for the current fiscal year.

Insider Transactions at Global Payments

In other Global Payments news, VP Andrea M. Carter sold 3,300 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $111.34, for a total transaction of $367,422.00. Following the transaction, the vice president now directly owns 25,209 shares in the company, valued at approximately $2,806,770.06. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.98% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Franklin Resources Inc. grew its holdings in Global Payments by 2.7% during the 4th quarter. Franklin Resources Inc. now owns 5,087,801 shares of the business services provider’s stock worth $646,151,000 after acquiring an additional 132,635 shares in the last quarter. Boston Partners boosted its holdings in shares of Global Payments by 0.3% in the 1st quarter. Boston Partners now owns 4,797,677 shares of the business services provider’s stock valued at $639,967,000 after buying an additional 12,196 shares in the last quarter. Morgan Stanley boosted its holdings in shares of Global Payments by 2.7% in the 3rd quarter. Morgan Stanley now owns 3,402,869 shares of the business services provider’s stock valued at $392,657,000 after buying an additional 89,057 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Global Payments by 338.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,288,108 shares of the business services provider’s stock valued at $379,416,000 after buying an additional 2,537,941 shares in the last quarter. Finally, Nordea Investment Management AB boosted its holdings in shares of Global Payments by 2.6% in the 4th quarter. Nordea Investment Management AB now owns 2,980,048 shares of the business services provider’s stock valued at $379,777,000 after buying an additional 76,606 shares in the last quarter. 89.76% of the stock is currently owned by institutional investors.

Global Payments Company Profile

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.