Global Payments (NYSE:GPN) Price Target Cut to $152.00

Global Payments (NYSE:GPN) had its price objective decreased by analysts at TD Cowen from $160.00 to $152.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the business services provider’s stock. TD Cowen’s target price suggests a potential upside of 38.32% from the company’s current price.

Other analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. boosted their target price on shares of Global Payments from $145.00 to $159.00 and gave the company a “neutral” rating in a report on Thursday, February 15th. Evercore ISI cut their price objective on shares of Global Payments from $185.00 to $180.00 and set an “outperform” rating on the stock in a report on Thursday, February 15th. Barclays lowered their target price on shares of Global Payments from $170.00 to $160.00 and set an “overweight” rating for the company in a report on Tuesday, April 16th. B. Riley boosted their price target on Global Payments from $180.00 to $186.00 and gave the stock a “buy” rating in a research report on Monday, February 5th. Finally, UBS Group raised their price objective on Global Payments from $130.00 to $145.00 and gave the company a “neutral” rating in a research report on Thursday, February 15th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $150.04.

Global Payments Trading Up 0.8 %

GPN stock traded up $0.83 during trading on Thursday, reaching $109.89. The company had a trading volume of 2,610,466 shares, compared to its average volume of 2,252,016. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.99 and a quick ratio of 0.99. Global Payments has a 52 week low of $95.12 and a 52 week high of $141.77. The business has a 50 day moving average of $128.37 and a 200 day moving average of $124.82. The company has a market cap of $28.03 billion, a P/E ratio of 28.95, a PEG ratio of 0.79 and a beta of 0.97.

Global Payments (NYSE:GPN) last announced its earnings results on Wednesday, February 14th. The business services provider reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $0.01. Global Payments had a return on equity of 11.44% and a net margin of 10.22%. The firm had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.18 billion. During the same quarter in the prior year, the company earned $2.30 EPS. The business’s revenue was up 7.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Global Payments will post 10.94 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Global Payments

Large investors have recently made changes to their positions in the company. BluePath Capital Management LLC bought a new stake in Global Payments during the third quarter valued at approximately $27,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Global Payments during the 4th quarter worth $30,000. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Global Payments during the 4th quarter valued at $41,000. West Paces Advisors Inc. increased 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 purchasing an additional 109 shares in the last quarter. Finally, Parkside Financial Bank & Trust raised its holdings in Global Payments by 77.7% in the 3rd quarter. Parkside Financial Bank & Trust now owns 407 shares of the business services provider’s stock worth $47,000 after purchasing an additional 178 shares during the period. 89.76% of the stock is currently owned by 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.