Truist Financial Corp Lowers Stock Holdings in Global Payments Inc. (NYSE:GPN)

Truist Financial Corp lowered its holdings in shares of Global Payments Inc. (NYSE:GPN) by 3.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 894,901 shares of the business services provider’s stock after selling 36,336 shares during the quarter. Truist Financial Corp owned approximately 0.34% of Global Payments worth $113,652,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of GPN. BluePath Capital Management LLC acquired a new position in shares of Global Payments during the third quarter valued at approximately $27,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Global Payments during the fourth quarter valued at approximately $30,000. McGlone Suttner Wealth Management Inc. acquired a new position in shares of Global Payments during the fourth quarter valued at approximately $41,000. Moisand Fitzgerald Tamayo LLC acquired a new position in shares of Global Payments during the third quarter valued at approximately $47,000. Finally, Parkside Financial Bank & Trust raised its holdings in shares of Global Payments by 77.7% during the third quarter. Parkside Financial Bank & Trust now owns 407 shares of the business services provider’s stock valued at $47,000 after acquiring an additional 178 shares during the last quarter. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. BMO Capital Markets cut their price target on Global Payments from $138.00 to $137.00 and set a “market perform” rating for the company in a report on Thursday, February 15th. KeyCorp increased their price target on Global Payments from $135.00 to $155.00 and gave the company an “overweight” rating in a report on Monday, January 8th. JPMorgan Chase & Co. increased their price target on Global Payments from $145.00 to $159.00 and gave the company a “neutral” rating in a report on Thursday, February 15th. Mizuho reissued a “neutral” rating and set a $129.00 target price on shares of Global Payments in a research note on Wednesday, March 27th. Finally, B. Riley raised their target price on Global Payments from $180.00 to $186.00 and gave the stock a “buy” rating in a research note on Monday, February 5th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $151.92.

Global Payments Stock Down 0.0 %

NYSE:GPN traded down $0.06 during midday trading on Friday, reaching $124.57. The company had a trading volume of 1,593,668 shares, compared to its average volume of 1,321,103. The firm has a market capitalization of $31.78 billion, a price-to-earnings ratio of 32.96, a PEG ratio of 0.80 and a beta of 0.96. The stock’s fifty day simple moving average is $129.19 and its 200-day simple moving average is $124.65. Global Payments Inc. has a 12-month low of $95.12 and a 12-month high of $141.77. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.67.

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

Global Payments Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date was Thursday, March 14th. Global Payments’s dividend payout ratio (DPR) is 26.46%.

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.