Global Payments Inc. (NYSE:GPN) Shares Sold by Truist Financial Corp

Truist Financial Corp decreased its holdings in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 3.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 894,901 shares of the business services provider's stock after selling 36,336 shares during the quarter. Truist Financial Corp owned about 0.34% of Global Payments worth $113,652,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of GPN. FMR LLC raised its stake in Global Payments by 40.7% during the third quarter. FMR LLC now owns 9,346,779 shares of the business services provider's stock valued at $1,078,525,000 after purchasing an additional 2,703,434 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Global Payments by 338.3% during the third quarter. Ameriprise Financial Inc. now owns 3,288,108 shares of the business services provider's stock valued at $379,416,000 after purchasing an additional 2,537,941 shares in the last quarter. Pzena Investment Management LLC purchased a new stake in Global Payments during the third quarter valued at $197,875,000. Boston Partners raised its stake in shares of Global Payments by 40.5% in the third quarter. Boston Partners now owns 5,142,771 shares of the business services provider's stock valued at $591,613,000 after acquiring an additional 1,481,714 shares during the period. Finally, Alkeon Capital Management LLC raised its stake in shares of Global Payments by 119.0% in the third quarter. Alkeon Capital Management LLC now owns 1,085,772 shares of the business services provider's stock valued at $125,287,000 after acquiring an additional 590,000 shares during the period. Hedge funds and other institutional investors own 89.76% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on GPN shares. TheStreet raised shares of Global Payments from a "c" rating to a "b-" rating in a research note on Thursday, February 1st. Wedbush increased their target price on shares of Global Payments from $130.00 to $160.00 and gave the company an "outperform" rating in a research note on Wednesday, January 10th. StockNews.com raised shares of Global Payments from a "hold" rating to a "buy" rating in a research note on Wednesday. BMO Capital Markets reduced their target price on shares of Global Payments from $138.00 to $137.00 and set a "market perform" rating on the stock in a research note on Thursday, February 15th. Finally, KeyCorp increased their target price on shares of Global Payments from $135.00 to $155.00 and gave the company an "overweight" rating in a research note on Monday, January 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat.com, Global Payments currently has a consensus rating of "Moderate Buy" and a consensus price target of $151.92.

Global Payments Stock Down 0.0 %

Shares of NYSE:GPN traded down $0.06 during trading on Friday, reaching $124.57. The stock had a trading volume of 1,593,668 shares, compared to its average volume of 1,321,103. Global Payments Inc. has a one year low of $95.12 and a one year high of $141.77. The company has a market capitalization of $31.78 billion, a P/E ratio of 32.96, a PEG ratio of 0.80 and a beta of 0.96. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.67. The firm's 50-day simple moving average is $129.19 and its 200 day simple moving average is $124.72.

Global Payments (NYSE:GPN - Get Free Report) last released its quarterly earnings results on Wednesday, February 14th. The business services provider reported $2.65 earnings per share for the quarter, beating analysts' consensus estimates of $2.64 by $0.01. Global Payments had a net margin of 10.22% and a return on equity of 11.44%. The business had revenue of $2.43 billion for the quarter, compared to analysts' expectations of $2.18 billion. During the same period last year, the business earned $2.30 EPS. The company's revenue was up 7.9% compared to the same quarter last year. As a group, research analysts expect that Global Payments Inc. will post 10.94 EPS for the current fiscal year.

Global Payments Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date of this dividend was Thursday, March 14th. Global Payments's dividend payout ratio is currently 26.46%.

Global Payments 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.