Mutual of America Capital Management LLC Reduces Holdings in Global Payments Inc. $GPN

Mutual of America Capital Management LLC decreased its position in shares of Global Payments Inc. (NYSE:GPN) by 2.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,971 shares of the business services provider’s stock after selling 827 shares during the period. Mutual of America Capital Management LLC’s holdings in Global Payments were worth $2,239,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pzena Investment Management LLC increased its stake in Global Payments by 32.6% during the 2nd quarter. Pzena Investment Management LLC now owns 11,050,253 shares of the business services provider’s stock worth $884,462,000 after buying an additional 2,716,156 shares during the period. Amundi increased its stake in Global Payments by 77.5% during the 1st quarter. Amundi now owns 2,001,585 shares of the business services provider’s stock worth $186,107,000 after buying an additional 874,175 shares during the period. Dimensional Fund Advisors LP increased its stake in Global Payments by 2.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,955,393 shares of the business services provider’s stock worth $191,451,000 after buying an additional 49,029 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Global Payments by 0.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,624,288 shares of the business services provider’s stock worth $159,050,000 after buying an additional 9,755 shares during the period. Finally, AQR Capital Management LLC increased its stake in Global Payments by 6.1% during the 1st quarter. AQR Capital Management LLC now owns 1,458,570 shares of the business services provider’s stock worth $140,402,000 after buying an additional 84,285 shares during the period. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Global Payments Trading Down 0.1%

NYSE GPN opened at $87.42 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95. The company has a 50-day simple moving average of $86.53 and a 200-day simple moving average of $81.91. The firm has a market capitalization of $21.21 billion, a PE ratio of 15.28, a price-to-earnings-growth ratio of 0.83 and a beta of 0.98. Global Payments Inc. has a one year low of $65.93 and a one year high of $120.00.

Global Payments (NYSE:GPN) last posted its earnings results on Wednesday, August 6th. The business services provider reported $3.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.06 by $0.04. The firm had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.36 billion. Global Payments had a net margin of 15.07% and a return on equity of 12.47%. Global Payments’s revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the business posted $2.93 EPS. On average, equities analysts forecast that Global Payments Inc. will post 11.89 earnings per share for the current year.

Global Payments Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Friday, September 12th. Global Payments’s payout ratio is presently 17.48%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on GPN shares. JPMorgan Chase & Co. boosted their target price on shares of Global Payments from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Thursday, August 7th. B. Riley reissued a “buy” rating on shares of Global Payments in a research report on Wednesday, July 16th. Mizuho raised shares of Global Payments from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $86.00 to $114.00 in a research report on Friday, July 25th. TD Cowen downgraded shares of Global Payments from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 21st. Finally, Truist Financial boosted their target price on shares of Global Payments from $79.00 to $83.00 and gave the stock a “hold” rating in a research report on Thursday, July 17th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and fourteen have given a Hold rating to the stock. According to MarketBeat.com, Global Payments currently has a consensus rating of “Hold” and a consensus price target of $103.37.

Insider Transactions at Global Payments

In other Global Payments news, General Counsel Dara L. Steele-Belkin sold 2,000 shares of the business’s stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $86.00, for a total transaction of $172,000.00. Following the completion of the transaction, the general counsel directly owned 30,713 shares of the company’s stock, valued at $2,641,318. The trade was a 6.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.01% of the stock is owned by insiders.

About Global Payments

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.