TD Cowen Lowers Global Payments (NYSE:GPN) Price Target to $122.00

Global Payments (NYSE:GPN) had its price objective trimmed by TD Cowen from $125.00 to $122.00 in a report published on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the business services provider’s stock.

A number of other research analysts also recently commented on the stock. BNP Paribas raised shares of Global Payments to a strong sell rating in a report on Wednesday, September 4th. Susquehanna reiterated a positive rating and set a $147.00 price objective on shares of Global Payments in a research report on Tuesday, September 17th. JPMorgan Chase & Co. raised their price target on Global Payments from $111.00 to $118.00 and gave the company a neutral rating in a research note on Tuesday, August 20th. BMO Capital Markets increased their price target on shares of Global Payments from $124.00 to $126.00 and gave the company a market perform rating in a research report on Thursday, August 8th. Finally, Royal Bank of Canada decreased their price target on Global Payments from $172.00 to $158.00 and set an outperform rating for the company in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, Global Payments has a consensus rating of Moderate Buy and an average target price of $141.36.

Global Payments Stock Performance

NYSE GPN opened at $101.02 on Wednesday. The business has a 50-day moving average price of $105.57 and a 200-day moving average price of $109.32. The firm has a market cap of $25.79 billion, a price-to-earnings ratio of 20.04, a price-to-earnings-growth ratio of 0.71 and a beta of 0.98. Global Payments has a twelve month low of $91.60 and a twelve month high of $141.77. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.68.

Global Payments (NYSE:GPN) last issued its quarterly earnings data on Wednesday, August 7th. The business services provider reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.90 by $0.03. The firm had revenue of $2.57 billion during the quarter, compared to analyst estimates of $2.32 billion. Global Payments had a return on equity of 11.93% and a net margin of 14.26%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.48 earnings per share. As a group, equities research analysts predict that Global Payments will post 11.07 EPS for the current fiscal year.

Global Payments Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend was Friday, September 13th. Global Payments’s dividend payout ratio is presently 19.84%.

Insiders Place Their Bets

In other news, CAO David M. Sheffield sold 1,651 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were 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 in the company, valued at approximately $2,068,087.63. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.98% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Global Payments

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

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.