Jefferies Upgrades Global Payments

Fintel reports that on August 10, 2023, Jefferies upgraded their outlook for Global Payments (NYSE:GPN) from Hold to Buy.

Analyst Price Forecast Suggests 9.51% Upside

As of August 2, 2023, the average one-year price target for Global Payments is 139.87. The forecasts range from a low of 89.89 to a high of $218.40. The average price target represents an increase of 9.51% from its latest reported closing price of 127.72.

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The projected annual revenue for Global Payments is 8,614MM, a decrease of 7.21%. The projected annual non-GAAP EPS is 10.54.

What is the Fund Sentiment?

There are 1638 funds or institutions reporting positions in Global Payments. This is a decrease of 27 owner(s) or 1.62% in the last quarter. Average portfolio weight of all funds dedicated to GPN is 0.34%, an increase of 8.84%. Total shares owned by institutions decreased in the last three months by 4.35% to 261,748K shares. The put/call ratio of GPN is 0.83, indicating a bullish outlook.

What are Other Shareholders Doing?

Wellington Management Group Llp holds 14,193K shares representing 5.46% ownership of the company. In it’s prior filing, the firm reported owning 14,932K shares, representing a decrease of 5.21%. The firm decreased its portfolio allocation in GPN by 85.95% over the last quarter.

Price T Rowe Associates holds 11,877K shares representing 4.57% ownership of the company. In it’s prior filing, the firm reported owning 12,589K shares, representing a decrease of 5.99%. The firm decreased its portfolio allocation in GPN by 6.97% over the last quarter.

Synovus Financial holds 8,230K shares representing 3.17% ownership of the company. In it’s prior filing, the firm reported owning 8,225K shares, representing an increase of 0.06%. The firm increased its portfolio allocation in GPN by 4.76% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 7,577K shares representing 2.91% ownership of the company. In it’s prior filing, the firm reported owning 7,853K shares, representing a decrease of 3.64%. The firm decreased its portfolio allocation in GPN by 5.60% over the last quarter.

Orbis Allan Gray holds 6,547K shares representing 2.52% ownership of the company. In it’s prior filing, the firm reported owning 6,360K shares, representing an increase of 2.86%. The firm increased its portfolio allocation in GPN by 8.03% over the last quarter.

Global Payments Background Information
(This description is provided by the company.)

Global Payments Inc. is a leading pure play payments technology company delivering innovative software and services to its customers globally. Its technologies, services and employee expertise enable the company to provide a broad range of solutions that allow its customers to operate their businesses more efficiently across a variety of channels around the world.

This article originally appeared on Fintel