Global Payments Inc. $GPN Shares Sold by Truist Financial Corp

Truist Financial Corp trimmed its stake in shares of Global Payments Inc. (NYSE:GPN) by 17.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 76,626 shares of the business services provider’s stock after selling 16,216 shares during the period. Truist Financial Corp’s holdings in Global Payments were worth $6,366,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. Brighton Jones LLC purchased a new stake in Global Payments in the 4th quarter worth approximately $725,000. Caxton Associates LLP acquired a new position in shares of Global Payments in the 1st quarter valued at $243,000. Intech Investment Management LLC boosted its holdings in Global Payments by 43.5% during the first quarter. Intech Investment Management LLC now owns 14,462 shares of the business services provider’s stock worth $1,416,000 after buying an additional 4,386 shares in the last quarter. Janney Montgomery Scott LLC grew its position in Global Payments by 20.2% during the second quarter. Janney Montgomery Scott LLC now owns 31,608 shares of the business services provider’s stock valued at $2,530,000 after buying an additional 5,316 shares during the period. Finally, J. Safra Sarasin Holding AG purchased a new position in Global Payments in the second quarter valued at $299,000. 89.76% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Global Payments news, insider David Lawrence Green sold 11,600 shares of the business’s stock in a transaction on Wednesday, December 3rd. The stock was 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 cost of $75.06 per share, with a total value of $99,904.86. Following the completion of the purchase, the director directly owned 2,651 shares in the company, valued at approximately $198,984.06. The trade was a 100.83% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have bought 14,723 shares of company stock valued at $1,186,772 and have sold 18,080 shares valued at $1,439,350. 1.01% of the stock is owned by corporate insiders.

Global Payments Price Performance

Global Payments stock opened at $72.02 on Tuesday. The company has a fifty day simple moving average of $77.52 and a 200-day simple moving average of $81.34. The firm has a market capitalization of $17.05 billion, a price-to-earnings ratio of 10.12, a PEG ratio of 0.47 and a beta of 0.76. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.57. Global Payments Inc. has a 52-week low of $65.93 and a 52-week high of $112.50.

Global Payments (NYSE:GPN) last released its earnings results on Tuesday, November 4th. The business services provider reported $3.26 earnings per share for the quarter, topping analysts’ consensus estimates of $3.23 by $0.03. The business 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 period last year, the company posted $3.08 EPS. On average, equities analysts anticipate that Global Payments Inc. will post 11.89 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on GPN. KeyCorp lowered Global Payments from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, October 22nd. Rothschild & Co Redburn upped their target price on Global Payments from $65.00 to $70.00 and gave the stock a “sell” rating in a research note on Wednesday, December 3rd. Deutsche Bank Aktiengesellschaft assumed coverage on Global Payments in a research report on Wednesday, January 14th. They set a “hold” rating and a $80.00 target price on the stock. Raymond James Financial reissued an “outperform” rating and issued a $105.00 price target on shares of Global Payments in a report on Tuesday, November 4th. Finally, Zacks Research upgraded shares of Global Payments to a “hold” rating in a research report on Tuesday, November 18th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $97.82.

About Global Payments

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.