Assetmark Inc. Acquires 3,938 Shares of Global Payments Inc. $GPN

Assetmark Inc. grew its holdings in Global Payments Inc. (NYSE:GPN) by 82.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,738 shares of the business services provider’s stock after buying an additional 3,938 shares during the period. Assetmark Inc.’s holdings in Global Payments were worth $699,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Pettee Investors Inc. lifted its holdings in shares of Global Payments by 24.1% during the second quarter. Pettee Investors Inc. now owns 15,672 shares of the business services provider’s stock worth $1,254,000 after buying an additional 3,040 shares in the last quarter. Malaga Cove Capital LLC increased its position in Global Payments by 85.0% during the first quarter. Malaga Cove Capital LLC now owns 15,094 shares of the business services provider’s stock worth $1,478,000 after acquiring an additional 6,933 shares during the period. National Pension Service raised its stake in Global Payments by 4.8% in the 1st quarter. National Pension Service now owns 397,851 shares of the business services provider’s stock worth $38,958,000 after purchasing an additional 18,334 shares in the last quarter. Sound Income Strategies LLC raised its stake in Global Payments by 7.9% in the 2nd quarter. Sound Income Strategies LLC now owns 60,905 shares of the business services provider’s stock worth $4,875,000 after purchasing an additional 4,478 shares in the last quarter. Finally, Leith Wheeler Investment Counsel Ltd. boosted its holdings in Global Payments by 6.3% in the 1st quarter. Leith Wheeler Investment Counsel Ltd. now owns 366,389 shares of the business services provider’s stock valued at $35,877,000 after purchasing an additional 21,686 shares during the period. 89.76% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GPN has been the subject of a number of analyst reports. Royal Bank Of Canada lifted their price target on shares of Global Payments from $93.00 to $95.00 and gave the company a “sector perform” rating in a research report on Wednesday. JPMorgan Chase & Co. raised their price objective on Global Payments from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Thursday, August 7th. Mizuho upgraded Global Payments from a “neutral” rating to an “outperform” rating and upped their target price for the company from $86.00 to $114.00 in a research report on Friday, July 25th. Wells Fargo & Company raised Global Payments to a “strong-buy” rating in a report on Wednesday, October 22nd. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $105.00 price target on shares of Global Payments in a research note on Tuesday. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to MarketBeat, Global Payments has a consensus rating of “Hold” and an average price target of $104.10.

Global Payments Stock Down 3.5%

Shares of NYSE GPN opened at $76.39 on Friday. The company has a market cap of $18.53 billion, a price-to-earnings ratio of 13.36, a PEG ratio of 0.76 and a beta of 0.95. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. Global Payments Inc. has a 12 month low of $65.93 and a 12 month high of $120.00. The stock has a 50-day moving average price of $85.19 and a two-hundred day moving average price of $81.75.

Global Payments (NYSE:GPN) last announced its quarterly earnings results on Tuesday, November 4th. The business services provider reported $3.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.23 by $0.03. The company had revenue of $2.01 billion for the quarter, compared to analyst estimates of $2.41 billion. Global Payments had a net margin of 15.07% and a return on equity of 12.47%. During the same period in the previous year, the firm posted $3.08 EPS. Global Payments has set its FY 2025 guidance at 6.600-6.666 EPS. As a group, analysts forecast that Global Payments Inc. will post 11.89 earnings per share for the current fiscal year.

Global Payments Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 26th. Stockholders of record on Friday, December 12th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Friday, December 12th. Global Payments’s dividend payout ratio is presently 14.04%.

Global Payments Profile

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.