Global Payments (NYSE:GPN) Coverage Initiated at Truist Financial

Truist Financial assumed coverage on shares of Global Payments (NYSE:GPN) in a research note issued on Monday, Marketbeat Ratings reports. The brokerage set a “hold” rating and a $79.00 price target on the business services provider’s stock. Truist Financial’s price target indicates a potential upside of 4.27% from the stock’s previous close.

GPN has been the topic of a number of other research reports. Wells Fargo & Company dropped their price objective on shares of Global Payments from $105.00 to $77.00 and set an “equal weight” rating on the stock in a report on Monday, April 21st. Wolfe Research reissued a “peer perform” rating on shares of Global Payments in a report on Wednesday, April 23rd. JPMorgan Chase & Co. dropped their price objective on shares of Global Payments from $115.00 to $85.00 and set a “neutral” rating on the stock in a report on Wednesday, May 7th. Evercore ISI initiated coverage on shares of Global Payments in a report on Wednesday, April 9th. They issued an “in-line” rating and a $85.00 price objective on the stock. Finally, Jefferies Financial Group downgraded shares of Global Payments from a “buy” rating to a “hold” rating and set a $75.00 price objective on the stock. in a report on Friday, April 18th. One equities research analyst has rated the stock with a sell rating, eighteen have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $110.91.

Global Payments Stock Performance

Shares of NYSE GPN opened at $75.76 on Monday. The firm’s 50-day moving average price is $80.35 and its 200-day moving average price is $98.80. 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 company has a market cap of $18.48 billion, a PE ratio of 12.26, a PEG ratio of 0.86 and a beta of 0.96. Global Payments has a 52-week low of $65.93 and a 52-week high of $120.00.

Global Payments (NYSE:GPN) last posted its quarterly earnings data on Tuesday, May 6th. The business services provider reported $2.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.73 by $0.09. The company had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.20 billion. Global Payments had a net margin of 15.54% and a return on equity of 12.21%. The firm’s revenue was down .3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.59 earnings per share. As a group, analysts anticipate that Global Payments will post 11.89 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Optiver Holding B.V. purchased a new position in shares of Global Payments in the fourth quarter valued at $28,000. NBC Securities Inc. purchased a new position in shares of Global Payments in the first quarter valued at $30,000. Whipplewood Advisors LLC purchased a new position in shares of Global Payments in the fourth quarter valued at $37,000. Larson Financial Group LLC grew its holdings in shares of Global Payments by 546.6% in the first quarter. Larson Financial Group LLC now owns 375 shares of the business services provider’s stock valued at $37,000 after purchasing an additional 317 shares in the last quarter. Finally, Zions Bancorporation National Association UT purchased a new position in shares of Global Payments in the first quarter valued at $37,000. 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.