Global Payments (NYSE:GPN) Price Target Cut to $152.00 by Analysts at TD Cowen

Global Payments (NYSE:GPN) had its price objective reduced by TD Cowen from $160.00 to $152.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the business services provider’s stock. TD Cowen’s price target suggests a potential upside of 38.32% from the stock’s current price.

GPN has been the topic of a number of other research reports. Robert W. Baird cut their price target on shares of Global Payments from $182.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday. KeyCorp cut their target price on Global Payments from $155.00 to $145.00 and set an “overweight” rating on the stock in a report on Thursday. Wedbush increased their price target on Global Payments from $130.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, January 10th. BMO Capital Markets cut their price objective on Global Payments from $143.00 to $128.00 and set a “market perform” rating on the stock in a research note on Thursday. Finally, JPMorgan Chase & Co. increased their target price on shares of Global Payments from $145.00 to $159.00 and gave the company a “neutral” rating in a research report on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $150.04.

Global Payments Trading Up 0.8 %

Global Payments stock traded up $0.83 during trading hours on Thursday, hitting $109.89. The stock had a trading volume of 2,610,466 shares, compared to its average volume of 2,252,016. The business’s 50 day simple moving average is $128.37 and its 200-day simple moving average is $124.82. Global Payments has a one year low of $95.12 and a one year high of $141.77. The stock has a market cap of $28.03 billion, a price-to-earnings ratio of 28.95, a P/E/G ratio of 0.79 and a beta of 0.97. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.67.

Global Payments (NYSE:GPN) last issued its quarterly earnings data on Wednesday, February 14th. The business services provider reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.64 by $0.01. Global Payments had a net margin of 10.22% and a return on equity of 11.44%. The business had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.18 billion. During the same quarter last year, the business earned $2.30 EPS. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. On average, equities analysts predict that Global Payments will post 10.94 EPS for the current fiscal year.

Hedge Funds Weigh In On Global Payments

A number of hedge funds have recently added to or reduced their stakes in GPN. FMR LLC raised its stake in shares of Global Payments by 40.7% in the third quarter. FMR LLC now owns 9,346,779 shares of the business services provider’s stock worth $1,078,525,000 after purchasing an additional 2,703,434 shares during the last quarter. Boston Partners grew its holdings in Global Payments by 40.5% during the third quarter. Boston Partners now owns 5,142,771 shares of the business services provider’s stock worth $591,613,000 after buying an additional 1,481,714 shares in the last quarter. Franklin Resources Inc. raised its position in Global Payments by 2.7% in the 4th quarter. Franklin Resources Inc. now owns 5,087,801 shares of the business services provider’s stock valued at $646,151,000 after buying an additional 132,635 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Global Payments by 3.4% during the 3rd quarter. Victory Capital Management Inc. now owns 3,499,860 shares of the business services provider’s stock valued at $403,849,000 after acquiring an additional 116,664 shares in the last quarter. Finally, Morgan Stanley boosted its holdings in Global Payments by 2.7% during the 3rd quarter. Morgan Stanley now owns 3,402,869 shares of the business services provider’s stock worth $392,657,000 after acquiring an additional 89,057 shares during the last quarter. Institutional investors and hedge funds 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.