Piper Sandler Upgrades Global Payments (NYSE:GPN) to “Hold”

Global Payments (NYSE:GPN) was upgraded by equities researchers at Piper Sandler to a “hold” rating in a research report issued on Thursday, Zacks reports.

A number of other equities analysts also recently weighed in on GPN. UBS Group started coverage on shares of Global Payments in a research note on Thursday, August 6th. They set a “buy” rating for the company. Truist Financial increased their price target on Global Payments from $79.00 to $95.00 and gave the stock a “hold” rating in a report on Tuesday, August 25th. Citigroup reissued a “buy” rating on shares of Global Payments in a research report on Thursday, August 6th. Barclays set a $89.00 price objective on Global Payments and gave the company an “equal weight” rating in a research note on Thursday, August 6th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $106.00 target price (up from $102.00) on shares of Global Payments in a research note on Monday, August 31st. Nine equities research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $92.85.

Global Payments Price Performance

Global Payments stock opened at $88.46 on Thursday. The firm has a market cap of $23.41 billion, a P/E ratio of -29.68, a P/E/G ratio of 0.48 and a beta of 0.78. The stock’s 50 day moving average is $86.24 and its 200 day moving average is $75.81. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.82 and a quick ratio of 0.82. Global Payments has a one year low of $61.16 and a one year high of $95.88.

Global Payments (NYSE:GPN) last released its quarterly earnings results on Wednesday, August 5th. The business services provider reported $3.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.44 by $0.02. Global Payments had a negative net margin of 9.16% and a positive return on equity of 13.80%. The firm had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same quarter last year, the business earned $3.10 EPS. The company’s revenue was up 68.6% compared to the same quarter last year. Global Payments has set its FY 2026 guidance at 13.600-13.800 EPS. As a group, research analysts expect that Global Payments will post 13.64 EPS for the current year.

Hedge Funds Weigh In On Global Payments

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Gtcr LLC bought a new stake in Global Payments in the 1st quarter valued at about $2,911,939,000. California State Teachers Retirement System boosted its holdings in Global Payments by 5,860.6% in the second quarter. California State Teachers Retirement System now owns 23,828,269 shares of the business services provider’s stock worth $1,728,979,000 after acquiring an additional 23,428,503 shares in the last quarter. Pzena Investment Management LLC bought a new position in Global Payments in the second quarter worth approximately $848,344,000. Glenview Capital Management LLC grew its stake in Global Payments by 13.8% in 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 acquiring an additional 523,209 shares during the period. Finally, Norges Bank acquired a new position in shares of Global Payments during the fourth quarter worth approximately $276,014,000. Institutional investors own 89.76% of the company’s stock.

About Global Payments

Global Payments Inc (NYSE:GPN) is a payments technology and software company that provides solutions for businesses, financial institutions and other organizations. Its services support payment acceptance across in-store, online and mobile channels, including credit and debit card processing, point-of-sale systems, payment gateways, integrated software and related business management tools.

The company serves merchants across industries such as retail, restaurants, hospitality, education, health care and professional services.