Global Payments (NYSE:GPN) Given New $122.00 Price Target at TD Cowen

Global Payments (NYSE:GPN) had its target price reduced by stock analysts at TD Cowen from $125.00 to $122.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the business services provider’s stock. TD Cowen’s price target points to a potential upside of 17.50% from the company’s previous close.

A number of other equities research analysts also recently weighed in on GPN. BNP Paribas upgraded Global Payments to a “strong sell” rating in a report on Wednesday, September 4th. StockNews.com raised shares of Global Payments from a “hold” rating to a “buy” rating in a report on Wednesday, September 18th. JPMorgan Chase & Co. raised their price target on shares of Global Payments from $111.00 to $118.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Evercore ISI lowered their price objective on shares of Global Payments from $170.00 to $160.00 and set an “outperform” rating for the company in a research report on Tuesday, June 25th. Finally, Keefe, Bruyette & Woods cut their target price on shares of Global Payments from $150.00 to $140.00 and set an “outperform” rating on the stock in a report on Monday, July 8th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $142.00.

Global Payments Stock Performance

Shares of GPN opened at $103.83 on Wednesday. The firm has a market cap of $26.42 billion, a price-to-earnings ratio of 20.60, a PEG ratio of 0.71 and a beta of 0.98. 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 business’s 50 day moving average is $105.76 and its two-hundred day moving average is $109.70. Global Payments has a 52-week low of $91.60 and a 52-week high of $141.77.

Global Payments (NYSE:GPN) last posted its quarterly earnings data on Wednesday, August 7th. The business services provider reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.90 by $0.03. The firm had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.32 billion. Global Payments had a net margin of 14.26% and a return on equity of 11.93%. The firm’s revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.48 EPS. Analysts forecast that Global Payments will post 11.07 EPS for the current fiscal year.

Insider Activity at Global Payments

In other Global Payments news, CAO David M. Sheffield sold 1,651 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $100.73, for a total value of $166,305.23. Following the completion of the sale, the chief accounting officer now directly owns 20,531 shares in the company, valued at $2,068,087.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.98% of the company’s stock.

Institutional Trading of Global Payments

Several institutional investors have recently modified their holdings of the company. Sanctuary Advisors LLC acquired a new stake in Global Payments in the 2nd quarter valued at about $900,000. Brown Financial Advisors acquired a new stake in Global Payments during the second quarter valued at approximately $1,128,000. Heritage Oak Wealth Advisors LLC bought a new stake in Global Payments during the second quarter worth approximately $333,000. Delphi Management Inc. MA grew its position in Global Payments by 5.6% in the second quarter. Delphi Management Inc. MA now owns 13,682 shares of the business services provider’s stock worth $1,323,000 after buying an additional 730 shares during the last quarter. Finally, Aurora Investment Counsel increased its holdings in shares of Global Payments by 5.9% in the second quarter. Aurora Investment Counsel now owns 11,300 shares of the business services provider’s stock valued at $1,093,000 after buying an additional 625 shares in the last quarter. Institutional investors and hedge funds own 89.76% of the company’s stock.

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.