Global Payments (NYSE:GPN) Price Target Cut to $125.00 by Analysts at TD Cowen

Global Payments (NYSE:GPN) had its price objective lowered by TD Cowen from $152.00 to $125.00 in a research note released on Friday morning, Benzinga reports. The firm currently has a buy rating on the business services provider’s stock.

GPN has been the topic of several other research reports. KeyCorp cut their target price on Global Payments from $155.00 to $145.00 and set an overweight rating on the stock in a research report on Thursday, May 2nd. Mizuho reduced their price target on Global Payments from $129.00 to $105.00 and set a neutral rating for the company in a report on Wednesday, May 15th. Wells Fargo & Company started coverage on Global Payments in a report on Wednesday, June 12th. They set an equal weight rating and a $100.00 price objective for the company. Morgan Stanley lifted their price objective on Global Payments from $160.00 to $164.00 and gave the stock an overweight rating in a report on Thursday, May 2nd. Finally, Keefe, Bruyette & Woods cut their price target on Global Payments from $158.00 to $150.00 and set an outperform rating for the company in a report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $146.39.

Global Payments Stock Performance

NYSE GPN opened at $97.05 on Friday. The stock has a fifty day simple moving average of $107.29 and a 200-day simple moving average of $122.28. Global Payments has a twelve month low of $91.60 and a twelve month high of $141.77. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.68. The stock has a market cap of $24.77 billion, a PE ratio of 19.25, a P/E/G ratio of 0.60 and a beta of 0.98.

Global Payments (NYSE:GPN) last posted its earnings results on Wednesday, May 1st. The business services provider reported $2.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.07. The firm had revenue of $2.18 billion for 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%. Equities analysts anticipate that Global Payments will post 11.08 earnings per share for the current year.

Global Payments Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.03%. The ex-dividend date is Friday, June 14th. Global Payments’s dividend payout ratio (DPR) is presently 19.84%.

Insider Buying and Selling

In other Global Payments news, VP Andrea M. Carter sold 3,300 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $111.34, for a total value of $367,422.00. Following the sale, the vice president now directly owns 25,209 shares in the company, valued at $2,806,770.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.98% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Aurora Investment Counsel grew its holdings in Global Payments by 3.6% during the first quarter. Aurora Investment Counsel now owns 10,675 shares of the business services provider’s stock worth $1,427,000 after acquiring an additional 368 shares during the period. Boston Partners boosted its position in Global Payments by 0.3% during the 1st quarter. Boston Partners now owns 4,797,677 shares of the business services provider’s stock worth $639,967,000 after acquiring an additional 12,196 shares during the period. Cetera Advisors LLC lifted its holdings in shares of Global Payments by 34.9% during the 1st quarter. Cetera Advisors LLC now owns 4,284 shares of the business services provider’s stock valued at $573,000 after buying an additional 1,108 shares during the last quarter. Cetera Investment Advisers lifted its holdings in shares of Global Payments by 531.9% during the 1st quarter. Cetera Investment Advisers now owns 24,238 shares of the business services provider’s stock valued at $3,240,000 after buying an additional 20,402 shares during the last quarter. Finally, PGGM Investments acquired a new stake in shares of Global Payments during the 1st quarter valued at about $489,000. 89.76% of the stock is owned by institutional investors and hedge funds.

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.