Global Payments (NYSE:GPN) Price Target Lowered to $125.00 at TD Cowen

Global Payments (NYSE:GPN) had its price objective lowered by TD Cowen from $152.00 to $125.00 in a research note released on Friday, Benzinga reports. TD Cowen currently has a buy rating on the business services provider’s stock.

GPN has been the topic of several other research reports. Susquehanna dropped their price target on shares of Global Payments from $160.00 to $157.00 and set a positive rating on the stock in a research note on Thursday, May 2nd. KeyCorp cut their price target on Global Payments from $155.00 to $145.00 and set an overweight rating for the company in a report on Thursday, May 2nd. Robert W. Baird reduced their price objective on shares of Global Payments from $182.00 to $150.00 and set an outperform rating for the company in a report on Thursday, May 2nd. Mizuho decreased their price target on Global Payments from $129.00 to $105.00 and set a neutral rating on the stock in a research report on Wednesday, May 15th. Finally, Wells Fargo & Company began coverage on shares of Global Payments in a research report on Wednesday, June 12th. They issued an equal weight rating and a $100.00 price objective for the company. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $146.39.

Global Payments Price Performance

Shares of NYSE:GPN opened at $95.03 on Friday. Global Payments has a 12-month low of $91.60 and a 12-month high of $141.77. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.68. The company has a market cap of $24.26 billion, a P/E ratio of 18.86, a price-to-earnings-growth ratio of 0.59 and a beta of 0.98. The company’s fifty day moving average is $107.81 and its two-hundred day moving average is $122.39.

Global Payments (NYSE:GPN) last announced its quarterly earnings data on Wednesday, May 1st. The business services provider reported $2.48 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $0.07. Global Payments had a net margin of 13.40% and a return on equity of 11.72%. The firm had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.17 billion. Equities analysts expect that Global Payments will post 11.08 earnings per share for the current fiscal year.

Global Payments Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.05%. Global Payments’s payout ratio is 19.84%.

Insider Activity

In other news, VP Andrea M. Carter sold 3,300 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $111.34, for a total value of $367,422.00. Following the sale, the vice president now owns 25,209 shares of the company’s stock, valued at $2,806,770.06. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.98% of the company’s stock.

Institutional Investors Weigh In On Global Payments

Institutional investors and hedge funds have recently made changes to their positions in the stock. Turtle Creek Wealth Advisors LLC acquired a new stake in Global Payments in the 4th quarter valued at about $30,000. New Covenant Trust Company N.A. bought a new position in shares of Global Payments in the first quarter valued at about $31,000. LRI Investments LLC acquired a new stake in shares of Global Payments during the 1st quarter worth about $32,000. McGlone Suttner Wealth Management Inc. bought a new position in Global Payments in the 4th quarter valued at about $41,000. Finally, West Paces Advisors Inc. lifted its position in Global Payments by 54.5% during the first 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 last quarter. Institutional investors 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.