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

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

A number of other brokerages also recently issued reports on GPN. Evercore ISI decreased their price target on shares of Global Payments from $170.00 to $160.00 and set an outperform rating for the company in a research note on Tuesday, June 25th. StockNews.com raised shares of Global Payments from a hold rating to a buy rating in a research report on Wednesday, September 18th. BNP Paribas raised Global Payments to a strong sell rating in a report on Wednesday, September 4th. BTIG Research downgraded Global Payments from a buy rating to a neutral rating in a report on Wednesday. Finally, William Blair cut Global Payments from an outperform rating to a market perform rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Global Payments has a consensus rating of Moderate Buy and a consensus price target of $141.36.

Global Payments Stock Down 6.5 %

Global Payments stock opened at $97.06 on Wednesday. The firm has a market capitalization of $24.70 billion, a P/E ratio of 19.26, a P/E/G ratio of 0.71 and a beta of 0.98. The stock’s fifty day simple moving average is $105.76 and its 200-day simple moving average is $109.70. Global Payments has a twelve month low of $91.60 and a twelve month high of $141.77. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.68.

Global Payments (NYSE:GPN) last posted its quarterly earnings results on Wednesday, August 7th. The business services provider reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.90 by $0.03. The company 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 for the quarter was up 4.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.48 EPS. As a group, equities analysts expect that Global Payments will post 11.07 earnings per share for the current fiscal year.

Global Payments Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a $0.25 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.00 dividend on an annualized basis and a yield of 1.03%. Global Payments’s dividend payout ratio is presently 19.84%.

Insider Transactions at Global Payments

In related news, CAO David M. Sheffield sold 1,651 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $100.73, for a total value of $166,305.23. Following the transaction, the chief accounting officer now owns 20,531 shares in the company, valued at approximately $2,068,087.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.98% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of GPN. New Covenant Trust Company N.A. acquired a new stake in shares of Global Payments during the first quarter worth $31,000. LRI Investments LLC acquired a new stake in shares of Global Payments in the 1st quarter worth $32,000. West Paces Advisors Inc. lifted its stake in shares of Global Payments by 54.5% in the 1st quarter. West Paces Advisors Inc. now owns 309 shares of the business services provider’s stock worth $41,000 after acquiring an additional 109 shares during the period. POM Investment Strategies LLC acquired a new position in shares of Global Payments during the second quarter worth about $32,000. Finally, North Star Investment Management Corp. raised its holdings in Global Payments by 154.7% during the first quarter. North Star Investment Management Corp. now owns 354 shares of the business services provider’s stock worth $47,000 after purchasing an additional 215 shares in the last quarter. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

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.