Global Payments (NYSE:GPN) Price Target Cut to $84.00 by Analysts at Truist Financial

Global Payments (NYSE:GPN) had its price target decreased by Truist Financial from $90.00 to $84.00 in a research report released on Thursday,Benzinga reports. Truist Financial currently has a hold rating on the business services provider’s stock.

A number of other analysts also recently issued reports on the company. Royal Bank Of Canada lifted their price target on Global Payments from $93.00 to $95.00 and gave the company a “sector perform” rating in a research report on Wednesday, November 5th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Global Payments in a research note on Wednesday, October 8th. TD Cowen boosted their price target on shares of Global Payments from $92.00 to $95.00 and gave the stock a “hold” rating in a research note on Wednesday, November 5th. Cowen reissued a “hold” rating on shares of Global Payments in a report on Wednesday, November 5th. Finally, KeyCorp downgraded shares of Global Payments from an “overweight” rating to a “sector weight” rating in a report on Wednesday, October 22nd. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and fourteen have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $103.90.

Global Payments Price Performance

NYSE GPN traded down $1.32 on Thursday, hitting $74.12. The stock had a trading volume of 2,218,346 shares, compared to its average volume of 2,655,672. The firm has a 50-day moving average of $83.77 and a 200-day moving average of $81.93. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95. Global Payments has a 52-week low of $65.93 and a 52-week high of $120.00. The company has a market capitalization of $17.55 billion, a price-to-earnings ratio of 12.96, a price-to-earnings-growth ratio of 0.76 and a beta of 0.95.

Global Payments (NYSE:GPN) last released its quarterly earnings results on Tuesday, November 4th. The business services provider reported $3.26 earnings per share for the quarter, topping the consensus estimate of $3.23 by $0.03. Global Payments had a net margin of 15.07% and a return on equity of 12.47%. The firm had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter in the prior year, the firm posted $3.08 earnings per share. Global Payments has set its FY 2025 guidance at 6.600-6.666 EPS. Equities analysts expect that Global Payments will post 11.89 EPS for the current year.

Global Payments Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 26th. Shareholders of record on Friday, December 12th will be given a $0.25 dividend. The ex-dividend date is Friday, December 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.3%. Global Payments’s payout ratio is presently 14.04%.

Insider Buying and Selling

In other Global Payments news, Director Patricia A. Watson acquired 1,331 shares of the company’s stock in a transaction on Friday, November 7th. The stock was acquired at an average price of $75.06 per share, for a total transaction of $99,904.86. Following the acquisition, the director owned 2,651 shares in the company, valued at $198,984.06. This represents a 100.83% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Connie D. Mcdaniel sold 4,464 shares of the firm’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $77.81, for a total value of $347,343.84. Following the completion of the sale, the director directly owned 30,014 shares of the company’s stock, valued at $2,335,389.34. The trade was a 12.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.01% of the company’s stock.

Institutional Trading of Global Payments

Hedge funds and other institutional investors have recently modified their holdings of the business. Brighton Jones LLC bought a new position in Global Payments during the 4th quarter valued at approximately $725,000. Ballentine Partners LLC bought a new stake in shares of Global Payments during the 1st quarter valued at about $224,000. Wealthfront Advisers LLC raised its position in Global Payments by 6.8% in the first quarter. Wealthfront Advisers LLC now owns 9,282 shares of the business services provider’s stock worth $909,000 after acquiring an additional 589 shares during the period. Larson Financial Group LLC raised its holdings in Global Payments by 546.6% in the 1st quarter. Larson Financial Group LLC now owns 375 shares of the business services provider’s stock worth $37,000 after purchasing an additional 317 shares during the period. Finally, Tectonic Advisors LLC lifted its position in shares of Global Payments by 17.6% during the 1st quarter. Tectonic Advisors LLC now owns 4,667 shares of the business services provider’s stock valued at $457,000 after buying an additional 700 shares in the last quarter. 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.