TD Cowen Trims Global Payments (NYSE:GPN) Target Price to $152.00

Global Payments (NYSE:GPN) had its target price reduced by TD Cowen from $160.00 to $152.00 in a report published on Thursday morning, Benzinga reports. They currently have a buy rating on the business services provider’s stock.

Other research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. lifted their price objective 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. StockNews.com downgraded shares of Global Payments from a buy rating to a hold rating in a research report on Thursday. UBS Group lifted their price objective on shares of Global Payments from $130.00 to $145.00 and gave the company a neutral rating in a research report on Thursday, February 15th. Keefe, Bruyette & Woods decreased their price objective on shares of Global Payments from $158.00 to $150.00 and set an outperform rating for the company in a research report on Thursday. Finally, Evercore ISI reduced their target price on shares of Global Payments from $185.00 to $180.00 and set an outperform rating for the company in a report on Thursday, February 15th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $150.00.

Global Payments Stock Up 0.8 %

GPN stock traded up $0.83 during midday trading on Thursday, hitting $111.37. The company’s stock had a trading volume of 3,191,218 shares, compared to its average volume of 2,029,470. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.92 and a quick ratio of 0.99. Global Payments has a twelve month low of $95.12 and a twelve month high of $141.77. The company’s fifty day moving average price is $127.50 and its 200 day moving average price is $124.69. The stock has a market capitalization of $28.43 billion, a P/E ratio of 22.10, a PEG ratio of 0.72 and a beta of 0.97.

Global Payments (NYSE:GPN) last issued its quarterly earnings results on Wednesday, February 14th. The business services provider reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.64 by $0.01. Global Payments had a net margin of 13.40% and a return on equity of 11.72%. The firm had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.18 billion. During the same period in the previous year, the business earned $2.30 EPS. The company’s revenue was up 7.9% compared to the same quarter last year. As a group, equities research analysts predict that Global Payments will post 10.95 EPS for the current year.

Global Payments Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend is Friday, June 14th. Global Payments’s payout ratio is presently 19.84%.

Hedge Funds Weigh In On Global Payments

Several hedge funds and other institutional investors have recently made changes to their positions in GPN. BluePath Capital Management LLC acquired a new position in shares of Global Payments in the 3rd quarter valued at approximately $27,000. Turtle Creek Wealth Advisors LLC acquired a new position in Global Payments during the 4th quarter worth approximately $30,000. McGlone Suttner Wealth Management Inc. acquired a new position in Global Payments during the 4th quarter worth approximately $41,000. West Paces Advisors Inc. increased its position in Global Payments by 54.5% during the 1st quarter. West Paces Advisors Inc. now owns 309 shares of the business services provider’s stock worth $41,000 after purchasing an additional 109 shares in the last quarter. Finally, Parkside Financial Bank & Trust increased its position in Global Payments by 77.7% during the 3rd quarter. Parkside Financial Bank & Trust now owns 407 shares of the business services provider’s stock worth $47,000 after purchasing an additional 178 shares in the last quarter. 89.76% of the stock is currently 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.