Truist Financial Corp Sells 23,095 Shares of Global Payments Inc. $GPN

Key Points

• Truist Financial Corp reduced its stake in Global Payments Inc. by 19.9%, selling 23,095 shares, and now holds 92,842 shares valued at approximately $7.43 million.
• Analysts have mixed views on Global Payments stock, with eight analysts rating it as a Buy and fifteen as a Hold, while the average target price has been set at $103.75.
• Global Payments reported a quarterly dividend of $0.25 per share, with a yield of 1.1% and a payout ratio of 17.48%.

Truist Financial Corp trimmed its holdings in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 19.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 92,842 shares of the business services provider's stock after selling 23,095 shares during the quarter. Truist Financial Corp's holdings in Global Payments were worth $7,431,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Pzena Investment Management LLC grew its holdings in Global Payments by 0.4% during the 1st quarter. Pzena Investment Management LLC now owns 8,334,097 shares of the business services provider's stock worth $816,075,000 after acquiring an additional 35,251 shares during the last quarter. Amundi grew its holdings in Global Payments by 77.5% during the 1st quarter. Amundi now owns 2,001,585 shares of the business services provider's stock worth $186,107,000 after acquiring an additional 874,175 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Global Payments by 2.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,955,393 shares of the business services provider's stock worth $191,451,000 after acquiring an additional 49,029 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Global Payments by 0.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,624,288 shares of the business services provider's stock worth $159,050,000 after acquiring an additional 9,755 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in Global Payments by 75,379.7% during the 1st quarter. SG Americas Securities LLC now owns 1,517,141 shares of the business services provider's stock worth $148,558,000 after acquiring an additional 1,515,131 shares during the last quarter. 89.76% of the stock is owned by institutional investors.

Insider Transactions at Global Payments

In other Global Payments news, General Counsel Dara L. Steele-Belkin sold 2,000 shares of the firm's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $86.00, for a total value of $172,000.00. Following the transaction, the general counsel directly owned 30,713 shares of the company's stock, valued at approximately $2,641,318. This trade represents a 6.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.01% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GPN. JPMorgan Chase & Co. upped their price objective on shares of Global Payments from $85.00 to $95.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. UBS Group upped their price objective on shares of Global Payments from $85.00 to $93.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. KeyCorp reaffirmed an "overweight" rating and issued a $100.00 price objective (up from $90.00) on shares of Global Payments in a research note on Thursday, August 7th. TD Cowen lowered shares of Global Payments from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 21st. Finally, Truist Financial upped their price objective on shares of Global Payments from $79.00 to $83.00 and gave the company a "hold" rating in a research note on Thursday, July 17th. Eight analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. Based on data from MarketBeat, Global Payments has a consensus rating of "Hold" and an average target price of $103.75.

Global Payments Stock Up 1.8%

Shares of NYSE GPN opened at $88.00 on Monday. The firm has a market cap of $21.35 billion, a PE ratio of 15.38, a P/E/G ratio of 0.84 and a beta of 0.98. Global Payments Inc. has a 12-month low of $65.93 and a 12-month high of $120.00. The company's fifty day simple moving average is $85.37 and its 200 day simple moving average is $82.56. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61.

Global Payments (NYSE:GPN - Get Free Report) last issued its earnings results on Wednesday, August 6th. The business services provider reported $3.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.06 by $0.04. The business had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.36 billion. Global Payments had a net margin of 15.07% and a return on equity of 12.47%. Global Payments's revenue was up 1.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.93 earnings per share. As a group, sell-side analysts forecast that Global Payments Inc. will post 11.89 earnings per share for the current fiscal year.

Global Payments Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, September 12th. This represents a $1.00 annualized dividend and a yield of 1.1%. Global Payments's dividend payout ratio is currently 17.48%.

Global Payments Company Profile

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.

Want to see what other hedge funds are holding GPN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Global Payments Inc. (NYSE:GPN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.