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

Global Payments (NYSE:GPN) had its price objective lowered by TD Cowen from $125.00 to $122.00 in a research note released on Wednesday, Benzinga reports. TD Cowen currently has a buy rating on the business services provider’s stock.

Other equities analysts also recently issued research reports about the stock. Royal Bank of Canada dropped their price objective on shares of Global Payments from $172.00 to $158.00 and set an outperform rating for the company in a research note on Thursday, August 8th. JPMorgan Chase & Co. increased 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 upped their target price on Global Payments from $124.00 to $126.00 and gave the stock a market perform rating in a report on Thursday, August 8th. StockNews.com upgraded Global Payments from a hold rating to a buy rating in a research report on Wednesday, September 18th. Finally, Stephens restated an overweight rating and set a $130.00 price target on shares of Global Payments in a report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, Global Payments has an average rating of Moderate Buy and an average price target of $141.36.

Global Payments Trading Up 3.4 %

Shares of GPN stock opened at $101.02 on Wednesday. Global Payments has a fifty-two week low of $91.60 and a fifty-two week high of $141.77. The stock’s fifty day moving average price is $105.56 and its two-hundred day moving average price is $109.52. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market cap of $25.79 billion, a PE ratio of 20.04, a P/E/G ratio of 0.71 and a beta of 0.98.

Global Payments (NYSE:GPN) last released its quarterly earnings data on Wednesday, August 7th. The business services provider reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.90 by $0.03. The business had revenue of $2.57 billion for 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%. Global Payments’s revenue was up 4.7% compared to the same quarter last year. During the same period last year, the firm posted $2.48 earnings per share. Equities analysts predict that Global Payments will post 11.07 EPS for the current fiscal year.

Global Payments Dividend Announcement

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

Insider Buying and Selling

In other Global Payments news, CAO David M. Sheffield sold 1,651 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $100.73, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.98% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Pzena Investment Management LLC grew its holdings in Global Payments by 194.2% in 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 purchasing an additional 4,240,388 shares during the period. Boston Partners grew its stake 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 during the period. Dimensional Fund Advisors LP increased its position in Global Payments by 10.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,957,914 shares of the business services provider’s stock valued at $189,307,000 after buying an additional 193,137 shares in the last quarter. Glenview Capital Management LLC raised its stake in Global Payments by 5.5% during the 4th quarter. Glenview Capital Management LLC now owns 1,948,128 shares of the business services provider’s stock worth $247,412,000 after buying an additional 100,993 shares during the period. Finally, Lyrical Asset Management LP boosted its holdings in Global Payments by 0.8% in the fourth quarter. Lyrical Asset Management LP now owns 1,764,123 shares of the business services provider’s stock worth $224,044,000 after acquiring an additional 14,235 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.