Aviva PLC lifted its stake in Global Payments Inc. (NYSE:GPN – Get Rating) by 15.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 106,742 shares of the business services provider’s stock after buying an additional 13,883 shares during the period. Aviva PLC’s holdings in Global Payments were worth $14,607,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in GPN. MUFG Americas Holdings Corp bought a new stake in shares of Global Payments in the first quarter valued at about $25,000. Bell Investment Advisors Inc lifted its stake in shares of Global Payments by 128.6% in the fourth quarter. Bell Investment Advisors Inc now owns 192 shares of the business services provider’s stock valued at $26,000 after buying an additional 108 shares during the period. MCF Advisors LLC bought a new stake in shares of Global Payments in the first quarter valued at about $27,000. Hazlett Burt & Watson Inc. acquired a new position in Global Payments in the first quarter worth about $27,000. Finally, Western Pacific Wealth Management LP acquired a new position in Global Payments in the fourth quarter worth about $29,000. Institutional investors own 85.61% of the company’s stock.
Analyst Upgrades and Downgrades
Several research analysts recently issued reports on the stock. Wells Fargo & Company dropped their price target on shares of Global Payments from $156.00 to $150.00 and set an “overweight” rating for the company in a research report on Thursday. Royal Bank of Canada dropped their price target on shares of Global Payments from $197.00 to $194.00 and set an “outperform” rating for the company in a research report on Tuesday, August 2nd. Credit Suisse Group lowered shares of Global Payments from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $180.00 to $145.00 in a research report on Wednesday, August 3rd. BMO Capital Markets increased their price target on shares of Global Payments from $217.00 to $232.00 in a research report on Wednesday, August 3rd. Finally, Truist Financial increased their price target on shares of Global Payments from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Tuesday, August 2nd. Six equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $173.36.
Insider Buying and Selling at Global Payments
Global Payments Price Performance
Shares of GPN stock opened at $131.73 on Friday. Global Payments Inc. has a 52-week low of $105.52 and a 52-week high of $175.73. The stock has a market cap of $36.51 billion, a PE ratio of 731.87, a PEG ratio of 0.86 and a beta of 1.02. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.87 and a current ratio of 0.87. The firm’s 50 day moving average price is $123.64 and its two-hundred day moving average price is $126.74.
Global Payments (NYSE:GPN – Get Rating) last announced its quarterly earnings data on Monday, August 1st. The business services provider reported $2.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.34 by $0.02. Global Payments had a net margin of 0.87% and a return on equity of 9.24%. The firm had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.09 billion. During the same period last year, the firm earned $1.92 earnings per share. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. As a group, analysts forecast that Global Payments Inc. will post 9 EPS for the current year.
Global Payments Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 16th will be paid a $0.25 dividend. The ex-dividend date is Thursday, September 15th. This represents a $1.00 dividend on an annualized basis and a yield of 0.76%. Global Payments’s payout ratio is presently 555.59%.
Global Payments declared that its Board of Directors has authorized a share repurchase program on Monday, August 1st that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the business services provider to repurchase up to 4.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.
Global Payments Company Profile
Global Payments Inc provides payment technology and software solutions for card, electronic, check, and digital-based payments in the Americas, Europe, and the Asia-Pacific. It operates through three segments: Merchant Solutions, Issuer Solutions, and Business and Consumer Solutions. The Merchant Solutions segment offers authorization services, settlement and funding services, customer support and help-desk functions, chargeback resolution, terminal rental, sales and deployment, payment security services, consolidated billing and statements, and on-line reporting services.
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