Edgestream Partners L.P. Makes New Investment in Global Payments Inc. $GPN

Edgestream Partners L.P. acquired a new stake in Global Payments Inc. (NYSE:GPN) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 13,300 shares of the business services provider’s stock, valued at approximately $895,000.

Several other large investors have also recently made changes to their positions in the business. Gtcr LLC bought a new position in shares of Global Payments during the 1st quarter valued at approximately $2,911,939,000. Pzena Investment Management LLC grew its position in shares of Global Payments by 1.8% in the first quarter. Pzena Investment Management LLC now owns 11,615,577 shares of the business services provider’s stock valued at $781,728,000 after purchasing an additional 205,880 shares in the last quarter. Glenview Capital Management LLC increased its position in shares of Global Payments by 13.8% during the second quarter. Glenview Capital Management LLC now owns 4,316,892 shares of the business services provider’s stock valued at $345,524,000 after buying an additional 523,209 shares during the period. Norges Bank bought a new stake in Global Payments during the 4th quarter worth approximately $276,014,000. Finally, Northern Trust Corp increased its holdings in shares of Global Payments by 1.7% in the fourth quarter. Northern Trust Corp now owns 2,675,925 shares of the business services provider’s stock worth $207,117,000 after purchasing an additional 45,857 shares during the period. 89.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on GPN shares. TD Cowen reiterated a “hold” rating and set a $74.00 price target (down from $86.00) on shares of Global Payments in a research report on Thursday, June 11th. Wells Fargo & Company lowered their target price on shares of Global Payments from $105.00 to $95.00 and set an “overweight” rating on the stock in a research note on Thursday, July 9th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Global Payments from $75.00 to $70.00 and set a “hold” rating for the company in a research report on Tuesday, June 9th. Argus lowered their price objective on shares of Global Payments from $100.00 to $95.00 in a research report on Friday, May 8th. Finally, Truist Financial lifted their price objective on shares of Global Payments from $76.00 to $79.00 and gave the stock a “hold” rating in a report on Friday, July 24th. Four research analysts have rated the stock with a Buy rating, nineteen have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $83.46.

Global Payments Stock Performance

NYSE:GPN opened at $88.24 on Wednesday. The company 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. The business has a 50 day moving average of $74.39 and a 200 day moving average of $72.37. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.79 and a quick ratio of 0.79. Global Payments Inc. has a 1-year low of $61.16 and a 1-year high of $90.64.

Global Payments (NYSE:GPN) last posted its quarterly earnings results on Wednesday, May 6th. The business services provider reported $2.96 earnings per share for the quarter, topping the consensus estimate of $2.82 by $0.14. Global Payments had a negative net margin of 7.99% and a positive return on equity of 13.11%. The business had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.81 billion. During the same period in the previous year, the firm posted $2.82 earnings per share. The firm’s revenue for the quarter was up 63.1% on a year-over-year basis. On average, sell-side analysts predict that Global Payments Inc. will post 13.81 earnings per share for the current fiscal year.

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.