Global Payments (NYSE:GPN) Price Target Cut to $90.00 by Analysts at TD Cowen

Global Payments (NYSE:GPN) had its target price dropped by TD Cowen from $95.00 to $90.00 in a note issued to investors on Monday,MarketScreener reports. The firm presently has a “hold” rating on the business services provider’s stock. TD Cowen’s price objective suggests a potential upside of 20.28% from the company’s current price.

Several other analysts have also recently weighed in on GPN. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Global Payments in a research note on Wednesday. They issued a “hold” rating and a $80.00 price target for the company. Evercore ISI reduced their price objective on Global Payments from $90.00 to $85.00 in a research note on Tuesday, November 11th. Seaport Res Ptn raised shares of Global Payments from a “hold” rating to a “strong-buy” rating in a report on Wednesday. Weiss Ratings restated a “hold (c-)” rating on shares of Global Payments in a report on Wednesday, October 8th. Finally, Truist Financial lowered their price target on shares of Global Payments from $90.00 to $84.00 and set a “hold” rating on the stock in a research report on Thursday, November 13th. Three analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Global Payments currently has a consensus rating of “Hold” and a consensus price target of $99.05.

Global Payments Price Performance

Shares of Global Payments stock traded down $2.66 during mid-day trading on Monday, reaching $74.82. 2,772,689 shares of the stock traded hands, compared to its average volume of 3,364,848. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.57. Global Payments has a fifty-two week low of $65.93 and a fifty-two week high of $114.17. The stock has a market capitalization of $17.71 billion, a PE ratio of 10.51, a PEG ratio of 0.65 and a beta of 0.79. The business has a 50-day moving average of $77.75 and a 200 day moving average of $82.01.

Global Payments (NYSE:GPN) last issued its earnings results on Tuesday, November 4th. The business services provider reported $3.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.23 by $0.03. Global Payments had a return on equity of 12.66% and a net margin of 19.68%.The company had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same period in the prior year, the business earned $3.08 EPS. Global Payments has set its FY 2025 guidance at 6.600-6.666 EPS. On average, analysts predict that Global Payments will post 11.89 EPS for the current year.

Insider Buying and Selling

In related news, Director Connie D. Mcdaniel sold 4,464 shares of the stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $77.81, for a total value of $347,343.84. Following the sale, the director owned 30,014 shares of the company’s stock, valued at $2,335,389.34. This trade represents a 12.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David Lawrence Green sold 11,600 shares of the business’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $79.99, for a total value of $927,884.00. Following the transaction, the insider owned 68,096 shares of the company’s stock, valued at $5,446,999.04. This trade represents a 14.56% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have purchased 14,723 shares of company stock worth $1,186,772 and have sold 18,080 shares worth $1,439,350. Company insiders own 1.01% of the company’s stock.

Hedge Funds Weigh In On Global Payments

Institutional investors have recently bought and sold shares of the stock. Norges Bank purchased a new stake in Global Payments in the 2nd quarter worth approximately $273,844,000. Pzena Investment Management LLC raised its holdings in Global Payments by 32.6% in the 2nd quarter. Pzena Investment Management LLC now owns 11,050,253 shares of the business services provider’s stock worth $884,462,000 after acquiring an additional 2,716,156 shares during the period. Balyasny Asset Management L.P. boosted its stake in Global Payments by 112.3% during the 3rd quarter. Balyasny Asset Management L.P. now owns 2,281,476 shares of the business services provider’s stock valued at $189,545,000 after purchasing an additional 1,206,807 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of Global Payments by 117.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,207,277 shares of the business services provider’s stock worth $93,443,000 after acquiring an additional 651,671 shares during the last quarter. Finally, National Bank of Canada FI raised its position in shares of Global Payments by 126.9% during the third quarter. National Bank of Canada FI now owns 1,019,788 shares of the business services provider’s stock valued at $84,724,000 after buying an additional 570,413 shares during the last quarter. Hedge funds and other institutional investors own 89.76% of the company’s stock.

About Global Payments

Global Payments Inc (NYSE: GPN) is a worldwide provider of payment technology and software solutions that enables commerce for merchants, issuers and enterprises. The company develops and operates payment processing networks, point-of-sale systems and cloud-based software that facilitate electronic transactions across in-store, online and mobile channels. Its services span merchant acquiring, payment gateway services, omnichannel commerce platforms, and solutions for recurring and subscription billing.

Global Payments offers a range of products and services including integrated payment terminals and point-of-sale software, e-commerce and gateway technologies, fraud prevention and tokenization tools, and business analytics and reporting.