TD Cowen Downgrades Global Payments (NYSE:GPN) to Hold

Global Payments (NYSE:GPN - Get Free Report) was downgraded by stock analysts at TD Cowen from a "buy" rating to a "hold" rating in a report issued on Monday, Marketbeat Ratings reports. They currently have a $78.00 price objective on the business services provider's stock. TD Cowen's price objective points to a potential upside of 7.52% from the stock's current price.

Several other analysts have also recently issued reports on GPN. Bank of America cut their price objective on shares of Global Payments from $156.00 to $149.00 and set a "buy" rating for the company in a report on Friday, February 14th. Robert W. Baird cut their price target on Global Payments from $145.00 to $100.00 and set an "outperform" rating for the company in a report on Monday. StockNews.com upgraded Global Payments from a "hold" rating to a "buy" rating in a research report on Thursday, January 23rd. Keefe, Bruyette & Woods cut Global Payments from an "outperform" rating to a "market perform" rating and dropped their target price for the company from $135.00 to $78.00 in a report on Thursday, April 17th. Finally, Barclays cut their target price on Global Payments from $125.00 to $110.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. One analyst has rated the stock with a sell rating, eighteen have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Global Payments has a consensus rating of "Hold" and a consensus target price of $112.86.

Global Payments Price Performance

Shares of Global Payments stock traded up $0.49 during mid-day trading on Monday, reaching $72.55. 3,424,442 shares of the stock traded hands, compared to its average volume of 2,410,730. The company has a quick ratio of 0.93, a current ratio of 0.97 and a debt-to-equity ratio of 0.66. The business has a 50-day moving average of $92.66 and a 200 day moving average of $104.12. The stock has a market capitalization of $17.84 billion, a PE ratio of 11.74, a PEG ratio of 0.86 and a beta of 0.97. Global Payments has a fifty-two week low of $65.93 and a fifty-two week high of $127.06.

Global Payments (NYSE:GPN - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The business services provider reported $2.84 earnings per share for the quarter, missing analysts' consensus estimates of $2.98 by ($0.14). Global Payments had a net margin of 15.54% and a return on equity of 12.21%. The firm had revenue of $2.29 billion during the quarter, compared to analysts' expectations of $2.31 billion. On average, analysts predict that Global Payments will post 11.89 EPS for the current year.

Hedge Funds Weigh In On Global Payments

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Beaird Harris Wealth Management LLC acquired a new position in Global Payments during the 3rd quarter worth $25,000. Optiver Holding B.V. acquired a new position in shares of Global Payments during the fourth quarter worth about $28,000. NBC Securities Inc. purchased a new stake in shares of Global Payments during the first quarter worth approximately $30,000. Whipplewood Advisors LLC acquired a new stake in Global Payments in the fourth quarter valued at approximately $37,000. Finally, Quintet Private Bank Europe S.A. purchased a new position in Global Payments in the fourth quarter worth approximately $38,000. Hedge funds and other 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.