Global Payments (NYSE:GPN) PT Lowered to $122.00

Global Payments (NYSE:GPN) had its price objective lowered by investment analysts at TD Cowen from $125.00 to $122.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the business services provider’s stock. TD Cowen’s price objective would indicate a potential upside of 17.50% from the company’s previous close.

Several other equities research analysts also recently issued reports on GPN. Stephens reissued an “overweight” rating and issued a $130.00 price objective on shares of Global Payments in a research note on Wednesday, September 18th. William Blair lowered shares of Global Payments from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Wells Fargo & Company initiated coverage on shares of Global Payments in a report on Wednesday, June 12th. They set an “equal weight” rating and a $100.00 price target for the company. Royal Bank of Canada dropped their price objective on shares of Global Payments from $172.00 to $158.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Global Payments from $150.00 to $140.00 and set an “outperform” rating on the stock in a report on Monday, July 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, Global Payments has a consensus rating of “Moderate Buy” and a consensus price target of $142.00.

Global Payments Stock Performance

Shares of GPN opened at $103.83 on Wednesday. The company has a 50-day moving average of $105.76 and a two-hundred day moving average of $109.70. The stock has a market cap of $26.42 billion, a price-to-earnings ratio of 20.60, a PEG ratio of 0.71 and a beta of 0.98. 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 has a one year low of $91.60 and a one year high of $141.77.

Global Payments (NYSE:GPN) last posted its quarterly earnings data on Wednesday, August 7th. The business services provider reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.90 by $0.03. The firm had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.32 billion. Global Payments had a net margin of 14.26% and a return on equity of 11.93%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the company posted $2.48 EPS. On average, equities research analysts expect that Global Payments will post 11.07 earnings per share for the current year.

Insider Activity at Global Payments

In other Global Payments news, CAO David M. Sheffield sold 1,651 shares of Global Payments stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $100.73, for a total value of $166,305.23. Following the transaction, the chief accounting officer now directly owns 20,531 shares of the company’s stock, valued at approximately $2,068,087.63. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.98% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Global Payments

Several hedge funds and other institutional investors have recently modified their holdings of GPN. Pzena Investment Management LLC boosted its holdings in Global Payments by 194.2% in the 2nd quarter. Pzena Investment Management LLC now owns 6,423,463 shares of the business services provider’s stock valued at $621,149,000 after purchasing an additional 4,240,388 shares during the period. AQR Capital Management LLC lifted its stake in shares of Global Payments by 188.1% in the second quarter. AQR Capital Management LLC now owns 1,157,728 shares of the business services provider’s stock valued at $109,857,000 after buying an additional 755,898 shares during the period. Kodai Capital Management LP acquired a new stake in Global Payments during the fourth quarter worth about $69,029,000. Natixis increased its stake in Global Payments by 830.2% during the first quarter. Natixis now owns 589,520 shares of the business services provider’s stock valued at $78,795,000 after acquiring an additional 526,143 shares during the period. Finally, Lord Abbett & CO. LLC raised its holdings in Global Payments by 267.0% in the 1st quarter. Lord Abbett & CO. LLC now owns 677,854 shares of the business services provider’s stock valued at $90,602,000 after acquiring an additional 493,164 shares in the last quarter. Institutional investors and hedge funds own 89.76% of the company’s stock.

About Global Payments

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.