Truist Financial Lowers Global Payments (NYSE:GPN) Price Target to $84.00

Global Payments (NYSE:GPN) had its target price decreased by research analysts at Truist Financial from $90.00 to $84.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “hold” rating on the business services provider’s stock. Truist Financial’s price target suggests a potential upside of 9.93% from the company’s current price.

A number of other brokerages have also recently weighed in on GPN. TD Cowen lifted their price objective on shares of Global Payments from $92.00 to $95.00 and gave the company a “hold” rating in a research note on Wednesday, November 5th. Cowen reissued a “hold” rating on shares of Global Payments in a research note on Wednesday, November 5th. Evercore ISI upped their price target on shares of Global Payments from $85.00 to $90.00 and gave the stock an “in-line” rating in a research note on Friday, August 8th. Citigroup raised Global Payments to a “strong-buy” rating in a research note on Thursday, October 23rd. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $105.00 target price on shares of Global Payments in a research note on Tuesday, November 4th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and fourteen have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $104.15.

Global Payments Stock Performance

NYSE GPN traded down $0.98 during trading hours on Thursday, hitting $76.41. The company had a trading volume of 389,987 shares, compared to its average volume of 2,651,952. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. The firm has a market cap of $18.09 billion, a P/E ratio of 13.38, a price-to-earnings-growth ratio of 0.76 and a beta of 0.95. Global Payments has a fifty-two week low of $65.93 and a fifty-two week high of $120.00. The business has a fifty day simple moving average of $84.28 and a 200-day simple moving average of $81.98.

Global Payments (NYSE:GPN) last posted its earnings results on Tuesday, November 4th. The business services provider reported $3.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 $2.01 billion during the quarter, compared to analyst estimates of $2.41 billion. During the same period in the previous year, the business posted $3.08 EPS. Global Payments has set its FY 2025 guidance at 6.600-6.666 EPS. Equities analysts predict that Global Payments will post 11.89 EPS for the current year.

Insiders Place Their Bets

In related news, Director Patricia A. Watson bought 1,331 shares of the business’s stock in a transaction on Friday, November 7th. The stock was bought at an average price of $75.06 per share, for a total transaction of $99,904.86. Following the transaction, the director directly owned 2,651 shares in the company, valued at $198,984.06. This represents a 100.83% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.01% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. North Star Investment Management Corp. lifted its holdings in Global Payments by 242.2% in the 3rd quarter. North Star Investment Management Corp. now owns 308 shares of the business services provider’s stock worth $26,000 after purchasing an additional 218 shares during the last quarter. Root Financial Partners LLC bought a new position in shares of Global Payments in the third quarter valued at approximately $27,000. SouthState Bank Corp bought a new position in shares of Global Payments in the third quarter valued at approximately $28,000. REAP Financial Group LLC acquired a new stake in shares of Global Payments in the third quarter worth $28,000. Finally, LRI Investments LLC boosted its holdings in shares of Global Payments by 53.4% during the 2nd quarter. LRI Investments LLC now owns 382 shares of the business services provider’s stock worth $31,000 after buying an additional 133 shares during the period. Institutional investors and hedge funds 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.