Global Payments (NYSE:GPN) Upgraded to Buy at TD Cowen

Global Payments (NYSE:GPN - Get Free Report) was upgraded by stock analysts at TD Cowen from a "hold" rating to a "buy" rating in a research note issued to investors on Monday,Finviz reports. The firm presently has a $84.00 target price on the business services provider's stock. TD Cowen's price target suggests a potential upside of 6.50% from the company's previous close.

Several other brokerages have also recently issued reports on GPN. Truist Financial assumed coverage on Global Payments in a report on Monday, June 2nd. They issued a "hold" rating and a $79.00 target price on the stock. Jefferies Financial Group cut Global Payments from a "buy" rating to a "hold" rating and set a $75.00 price objective on the stock. in a research note on Friday, April 18th. Evercore ISI assumed coverage on Global Payments in a research note on Wednesday, April 9th. They set an "in-line" rating and a $85.00 price objective on the stock. Wolfe Research reaffirmed a "peer perform" rating on shares of Global Payments in a research note on Wednesday, April 23rd. Finally, Robert W. Baird cut their target price on Global Payments from $145.00 to $100.00 and set an "outperform" rating on the stock in a research note on Monday, April 21st. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $111.36.

Global Payments Stock Performance

Global Payments stock opened at $78.88 on Monday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $19.24 billion, a P/E ratio of 12.72, a PEG ratio of 0.76 and a beta of 0.94. The stock's 50 day moving average is $78.53 and its 200 day moving average is $91.44. Global Payments has a twelve month low of $65.93 and a twelve month high of $120.00.

Global Payments (NYSE:GPN - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The business services provider reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.73 by $0.09. The firm had revenue of $2.20 billion for the quarter, compared to analysts' expectations of $2.20 billion. Global Payments had a return on equity of 12.33% and a net margin of 15.48%. The company's revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.59 EPS. On average, equities research analysts predict that Global Payments will post 11.89 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Norges Bank acquired a new position in shares of Global Payments in the fourth quarter worth $345,823,000. SG Americas Securities LLC raised its holdings in shares of Global Payments by 75,379.7% in the first quarter. SG Americas Securities LLC now owns 1,517,141 shares of the business services provider's stock valued at $148,558,000 after buying an additional 1,515,131 shares during the last quarter. Contour Asset Management LLC purchased a new stake in shares of Global Payments in the fourth quarter valued at about $147,695,000. Nuveen LLC purchased a new stake in shares of Global Payments in the first quarter valued at about $94,107,000. Finally, Focused Investors LLC purchased a new stake in shares of Global Payments in the fourth quarter valued at about $99,969,000. 89.76% of the stock is owned by hedge funds and other institutional investors.

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.

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