Global Payments (NYSE:GPN) Raised to Hold at Cantor Fitzgerald

Global Payments (NYSE:GPN) was upgraded by analysts at Cantor Fitzgerald to a “hold” rating in a report released on Tuesday,Zacks.com reports.

Several other equities research analysts have also issued reports on the stock. Raymond James Financial reaffirmed an “outperform” rating and issued a $105.00 price objective on shares of Global Payments in a research note on Tuesday, November 4th. Truist Financial set a $85.00 price target on Global Payments in a research report on Tuesday, January 20th. TD Cowen lowered their price objective on Global Payments from $95.00 to $90.00 and set a “hold” rating on the stock in a report on Monday, January 12th. Stephens cut their price objective on Global Payments from $95.00 to $90.00 and set an “equal weight” rating on the stock in a research note on Friday, January 16th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Global Payments in a research report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $97.82.

Global Payments Trading Down 2.4%

Shares of NYSE GPN opened at $71.98 on Tuesday. The business has a 50 day simple moving average of $77.57 and a 200 day simple moving average of $81.53. Global Payments has a 52 week low of $65.93 and a 52 week high of $114.17. The stock has a market cap of $17.04 billion, a price-to-earnings ratio of 10.11, a PEG ratio of 0.48 and a beta of 0.79. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.85 and a current ratio of 0.85.

Global Payments (NYSE:GPN) last issued its quarterly earnings data on Tuesday, November 4th. The business services provider reported $3.26 earnings per share for the quarter, beating the consensus estimate of $3.23 by $0.03. The firm had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.41 billion. Global Payments had a net margin of 19.68% and a return on equity of 12.66%. During the same quarter last year, the firm earned $3.08 earnings per share. Global Payments has set its FY 2025 guidance at 6.600-6.666 EPS. On average, research analysts predict that Global Payments will post 11.89 earnings per share for the current fiscal year.

Insider Activity at Global Payments

In related news, insider David Lawrence Green sold 11,600 shares of the business’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $79.99, for a total transaction of $927,884.00. Following the transaction, the insider owned 68,096 shares of the company’s stock, valued at approximately $5,446,999.04. The trade was a 14.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP David M. Sheffield sold 2,016 shares of the company’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $81.41, for a total transaction of $164,122.56. Following the transaction, the executive vice president owned 14,438 shares of the company’s stock, valued at approximately $1,175,397.58. The trade was a 12.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders acquired 14,723 shares of company stock valued at $1,186,772 and sold 18,080 shares valued at $1,439,350. 1.01% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GPN. Norges Bank bought a new stake in shares of Global Payments in the second quarter valued at about $273,844,000. Pzena Investment Management LLC raised its holdings in Global Payments by 32.6% in the 2nd quarter. Pzena Investment Management LLC now owns 11,050,253 shares of the business services provider’s stock valued at $884,462,000 after acquiring an additional 2,716,156 shares in the last quarter. Balyasny Asset Management L.P. lifted its position in shares of Global Payments by 112.3% in the 3rd quarter. Balyasny Asset Management L.P. now owns 2,281,476 shares of the business services provider’s stock worth $189,545,000 after acquiring an additional 1,206,807 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of Global Payments by 117.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,207,277 shares of the business services provider’s stock worth $93,443,000 after purchasing an additional 651,671 shares in the last quarter. Finally, National Bank of Canada FI increased its position in shares of Global Payments by 126.9% during the third quarter. National Bank of Canada FI now owns 1,019,788 shares of the business services provider’s stock valued at $84,724,000 after purchasing an additional 570,413 shares during the period. Institutional investors own 89.76% of the company’s stock.

Global Payments Company Profile

Global Payments Inc (NYSE: GPN) is a worldwide provider of payment technology and software solutions that enables commerce for merchants, issuers and enterprises. The company develops and operates payment processing networks, point-of-sale systems and cloud-based software that facilitate electronic transactions across in-store, online and mobile channels. Its services span merchant acquiring, payment gateway services, omnichannel commerce platforms, and solutions for recurring and subscription billing.

Global Payments offers a range of products and services including integrated payment terminals and point-of-sale software, e-commerce and gateway technologies, fraud prevention and tokenization tools, and business analytics and reporting.