Global Payments (NYSE:GPN) Price Target Cut to $152.00 by Analysts at TD Cowen

Global Payments (NYSE:GPN) had its price objective cut by TD Cowen from $160.00 to $152.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the business services provider’s stock. TD Cowen’s price objective would indicate a potential upside of 36.48% from the stock’s current price.

GPN has been the subject of a number of other reports. UBS Group lifted their price objective on shares of Global Payments from $130.00 to $145.00 and gave the stock a “neutral” rating in a research report on Thursday, February 15th. Mizuho reissued a “neutral” rating and issued a $129.00 target price on shares of Global Payments in a research report on Wednesday, March 27th. StockNews.com cut shares of Global Payments from a “buy” rating to a “hold” rating in a research report on Thursday. BMO Capital Markets reduced their target price on shares of Global Payments from $143.00 to $128.00 and set a “market perform” rating for the company in a research report on Thursday. Finally, TheStreet raised shares of Global Payments from a “c” rating to a “b-” rating in a research report on Thursday, February 1st. One investment 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. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $150.00.

Global Payments Stock Performance

GPN stock traded up $0.83 during midday trading on Thursday, reaching $111.37. 3,191,218 shares of the company were exchanged, 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. The business has a 50-day moving average price of $127.93 and a two-hundred day moving average price of $124.72. Global Payments has a one year low of $95.12 and a one year high of $141.77. The firm has a market capitalization of $28.43 billion, a price-to-earnings ratio of 22.10, a price-to-earnings-growth ratio of 0.71 and a beta of 0.97.

Global Payments (NYSE:GPN) last released its quarterly earnings data on Wednesday, February 14th. The business services provider reported $2.65 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $2.18 billion. During the same period in the previous year, the business posted $2.30 earnings per share. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. Equities research analysts forecast that Global Payments will post 10.94 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. BluePath Capital Management LLC acquired a new position in Global Payments during the third quarter worth about $27,000. Turtle Creek Wealth Advisors LLC acquired a new position in Global Payments during the fourth quarter worth about $30,000. McGlone Suttner Wealth Management Inc. acquired a new position in Global Payments during the fourth quarter worth about $41,000. West Paces Advisors Inc. raised its stake 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 in the last quarter. Finally, Parkside Financial Bank & Trust increased its stake in shares of Global Payments by 77.7% in the third quarter. Parkside Financial Bank & Trust now owns 407 shares of the business services provider’s stock valued at $47,000 after buying an additional 178 shares during the period. 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.