Global Payments Inc. $GPN Shares Bought by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership grew its stake in shares of Global Payments Inc. (NYSE:GPN) by 5.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,539,684 shares of the business services provider’s stock after purchasing an additional 85,520 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.63% of Global Payments worth $123,236,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the stock. LRI Investments LLC grew its stake in Global Payments by 53.4% during the 2nd quarter. LRI Investments LLC now owns 382 shares of the business services provider’s stock worth $31,000 after buying an additional 133 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Global Payments by 5.5% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 3,027 shares of the business services provider’s stock valued at $242,000 after acquiring an additional 158 shares during the period. Valeo Financial Advisors LLC boosted its holdings in shares of Global Payments by 5.1% during the second quarter. Valeo Financial Advisors LLC now owns 3,320 shares of the business services provider’s stock valued at $266,000 after acquiring an additional 161 shares during the period. WESCAP Management Group Inc. grew its position in shares of Global Payments by 2.5% during the first quarter. WESCAP Management Group Inc. now owns 7,102 shares of the business services provider’s stock worth $695,000 after acquiring an additional 176 shares during the last quarter. Finally, Yousif Capital Management LLC increased its holdings in shares of Global Payments by 0.5% in the 2nd quarter. Yousif Capital Management LLC now owns 33,587 shares of the business services provider’s stock worth $2,688,000 after acquiring an additional 181 shares during the period. Institutional investors own 89.76% of the company’s stock.

Global Payments Price Performance

Shares of NYSE GPN opened at $79.94 on Thursday. Global Payments Inc. has a twelve month low of $65.93 and a twelve month high of $118.86. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.57. The firm has a 50-day moving average of $80.80 and a two-hundred day moving average of $81.46. The company has a market capitalization of $18.93 billion, a price-to-earnings ratio of 11.23, a PEG ratio of 0.72 and a beta of 0.82.

Global Payments (NYSE:GPN) last announced its quarterly earnings data on Tuesday, November 4th. The business services provider reported $3.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.23 by $0.03. Global Payments had a net margin of 19.68% and a return on equity of 12.66%. The company had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter in the previous year, the company posted $3.08 EPS. Global Payments has set its FY 2025 guidance at 6.600-6.666 EPS. As a group, analysts expect that Global Payments Inc. will post 11.89 earnings per share for the current fiscal year.

Global Payments Announces Dividend

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

Insiders Place Their Bets

In other news, Director Connie D. Mcdaniel sold 4,464 shares of the stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $77.81, for a total transaction of $347,343.84. Following the completion of the sale, the director owned 30,014 shares in the company, valued at approximately $2,335,389.34. This represents a 12.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Patricia A. Watson acquired 1,331 shares of Global Payments stock in a transaction dated Friday, November 7th. The shares were bought at an average cost of $75.06 per share, with a total value of $99,904.86. Following the completion of the purchase, the director owned 2,651 shares in the company, valued at approximately $198,984.06. This represents a 100.83% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 1.01% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on GPN shares. UBS Group boosted their target price on shares of Global Payments from $85.00 to $93.00 and gave the company a “neutral” rating in a research note on Thursday, August 7th. Rothschild & Co Redburn lifted their price target on Global Payments from $65.00 to $70.00 and gave the company a “sell” rating in a report on Wednesday. Cowen reiterated a “hold” rating on shares of Global Payments in a research report on Wednesday, November 5th. Truist Financial decreased their price objective on Global Payments from $90.00 to $84.00 and set a “hold” rating for the company in a report on Thursday, November 13th. Finally, TD Cowen lifted their target price on Global Payments from $92.00 to $95.00 and gave the company a “hold” rating in a research note on Wednesday, November 5th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $102.29.

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.