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

Global Payments (NYSE:GPNFree Report) had its price objective cut by TD Cowen from $152.00 to $125.00 in a report published on Friday morning, Benzinga reports. They currently have a buy rating on the business services provider’s stock.

Several other analysts have also recently issued reports on GPN. Keefe, Bruyette & Woods cut their price objective on Global Payments from $158.00 to $150.00 and set an outperform rating on the stock in a research note on Thursday, May 2nd. Morgan Stanley raised their price target on Global Payments from $160.00 to $164.00 and gave the stock an overweight rating in a report on Thursday, May 2nd. Citigroup cut their price target on Global Payments from $163.00 to $155.00 and set a buy rating on the stock in a report on Thursday, May 2nd. Susquehanna cut their price target on Global Payments from $160.00 to $157.00 and set a positive rating on the stock in a report on Thursday, May 2nd. Finally, Robert W. Baird cut their price target on Global Payments from $182.00 to $150.00 and set an outperform rating on the stock in a report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $146.39.

Check Out Our Latest Stock Analysis on GPN

Global Payments Trading Up 0.7 %

Shares of NYSE GPN opened at $95.03 on Friday. The stock’s 50 day moving average price is $107.81 and its two-hundred day moving average price is $122.44. Global Payments has a 52-week low of $91.60 and a 52-week high of $141.77. The stock has a market capitalization of $24.26 billion, a P/E ratio of 18.86, a PEG ratio of 0.60 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.

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

Global Payments Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend is Friday, June 14th. Global Payments’s dividend payout ratio (DPR) is presently 19.84%.

Insider Activity

In other news, VP Andrea M. Carter sold 3,300 shares of Global Payments stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $111.34, for a total transaction of $367,422.00. Following the transaction, the vice president now directly owns 25,209 shares in the company, valued at approximately $2,806,770.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.98% of the stock is owned by insiders.

Hedge Funds Weigh In On Global Payments

A number of hedge funds have recently modified their holdings of GPN. Kestra Advisory Services LLC grew its holdings in shares of Global Payments by 21.1% in the 3rd quarter. Kestra Advisory Services LLC now owns 13,758 shares of the business services provider’s stock worth $1,588,000 after acquiring an additional 2,397 shares during the last quarter. QRG Capital Management Inc. acquired a new position in shares of Global Payments in the 3rd quarter worth $229,000. V Square Quantitative Management LLC acquired a new position in shares of Global Payments in the 3rd quarter worth $179,000. LPL Financial LLC grew its holdings in shares of Global Payments by 18.2% in the 3rd quarter. LPL Financial LLC now owns 70,889 shares of the business services provider’s stock worth $8,180,000 after acquiring an additional 10,930 shares during the last quarter. Finally, Mariner LLC grew its holdings in shares of Global Payments by 7.6% in the 3rd quarter. Mariner LLC now owns 29,046 shares of the business services provider’s stock worth $3,352,000 after acquiring an additional 2,062 shares during the last quarter. 89.76% of the stock is currently owned by institutional investors and hedge funds.

Global Payments Company Profile

(Get Free Report)

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.

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