Edgestream Partners L.P. Buys Shares of 13,300 Global Payments Inc. $GPN

Key Points

• Edgestream Partners initiated a position in Global Payments by purchasing 13,300 shares valued at approximately $895,000. Institutional investors collectively own 89.76% of the company.
• Global Payments exceeded quarterly expectations, reporting $2.96 in adjusted EPS versus an $2.82 consensus estimate and $2.86 billion in revenue. Revenue increased 63.1% year over year.
• Analyst sentiment remains mixed, with the stock carrying a consensus “Hold” rating and an average price target of $83.46, below its reported market price of $88.24.

Edgestream Partners L.P. purchased a new position in shares of Global Payments Inc. (NYSE:GPN - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 13,300 shares of the business services provider's stock, valued at approximately $895,000.

Several other institutional investors also recently added to or reduced their stakes in the business. Strive Financial Group LLC acquired a new position in shares of Global Payments during the fourth quarter worth approximately $25,000. DV Equities LLC bought a new stake in Global Payments during the 4th quarter worth approximately $26,000. Torren Management LLC acquired a new position in shares of Global Payments during the fourth quarter worth about $34,000. Johnson Financial Group Inc. acquired a new position in Global Payments during the third quarter worth $35,000. Finally, Hantz Financial Services Inc. boosted its position in Global Payments by 87.5% during the fourth quarter. Hantz Financial Services Inc. now owns 478 shares of the business services provider's stock valued at $37,000 after purchasing an additional 223 shares during the last quarter. 89.76% of the stock is owned by institutional investors.

Global Payments Price Performance

Shares of NYSE:GPN opened at $88.24 on Wednesday. Global Payments Inc. has a twelve month low of $61.16 and a twelve month high of $90.64. The stock's 50 day moving average is $74.39 and its 200-day moving average is $72.37. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $24.14 billion, a price-to-earnings ratio of -43.26, a PEG ratio of 0.49 and a beta of 0.74.

Global Payments (NYSE:GPN - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The business services provider reported $2.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.82 by $0.14. The business had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.81 billion. Global Payments had a negative net margin of 7.99% and a positive return on equity of 13.11%. Global Payments's revenue was up 63.1% compared to the same quarter last year. During the same quarter last year, the firm posted $2.82 EPS. Sell-side analysts forecast that Global Payments Inc. will post 13.81 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Rothschild & Co Redburn decreased their price objective on shares of Global Payments from $70.00 to $60.00 and set a "sell" rating for the company in a research report on Tuesday, May 12th. Wall Street Zen cut Global Payments from a "buy" rating to a "hold" rating in a research report on Saturday, May 30th. Susquehanna set a $111.00 price target on shares of Global Payments and gave the company a "positive" rating in a research report on Wednesday, June 3rd. BTIG Research reaffirmed a "neutral" rating on shares of Global Payments in a research note on Tuesday, June 9th. Finally, UBS Group restated a "neutral" rating and set a $80.00 target price on shares of Global Payments in a research note on Thursday, May 7th. Four investment analysts have rated the stock with a Buy rating, nineteen have given a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $83.46.

Global Payments 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.

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