Fisher Asset Management LLC Grows Stake in Global Payments Inc. $GPN

Fisher Asset Management LLC lifted its position in Global Payments Inc. (NYSE:GPN) by 49.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 32,894 shares of the business services provider’s stock after purchasing an additional 10,888 shares during the quarter. Fisher Asset Management LLC’s holdings in Global Payments were worth $2,633,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Claret Asset Management Corp increased its stake in Global Payments by 35.8% in the 2nd quarter. Claret Asset Management Corp now owns 2,954 shares of the business services provider’s stock worth $236,000 after acquiring an additional 778 shares during the last quarter. Mackenzie Financial Corp grew its holdings in shares of Global Payments by 126.6% during the second quarter. Mackenzie Financial Corp now owns 199,287 shares of the business services provider’s stock worth $15,951,000 after purchasing an additional 111,323 shares in the last quarter. Skandinaviska Enskilda Banken AB publ increased its position in shares of Global Payments by 13.9% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 52,445 shares of the business services provider’s stock worth $4,198,000 after purchasing an additional 6,400 shares during the last quarter. Norges Bank purchased a new stake in Global Payments in the second quarter valued at approximately $273,844,000. Finally, Quadrature Capital Ltd bought a new stake in Global Payments during the second quarter valued at approximately $802,000. Institutional investors own 89.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on GPN shares. Jefferies Financial Group decreased their price target on shares of Global Payments from $85.00 to $75.00 and set a “hold” rating on the stock in a report on Monday, November 24th. Cowen reissued a “hold” rating on shares of Global Payments in a research note on Wednesday, November 5th. Wells Fargo & Company upgraded Global Payments to a “strong-buy” rating in a research report on Wednesday, October 22nd. Royal Bank Of Canada upped their price objective on Global Payments from $93.00 to $95.00 and gave the stock a “sector perform” rating in a report on Wednesday, November 5th. Finally, KeyCorp cut Global Payments from an “overweight” rating to a “sector weight” rating in a report on Wednesday, October 22nd. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $102.29.

Global Payments Trading Down 1.0%

Shares of GPN stock opened at $78.91 on Friday. The stock has a market capitalization of $18.68 billion, a PE ratio of 11.08, a P/E/G ratio of 0.76 and a beta of 0.82. Global Payments Inc. has a 1-year low of $65.93 and a 1-year high of $118.86. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.85 and a quick ratio of 0.85. The business has a 50-day moving average of $80.59 and a 200 day moving average of $81.43.

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

Global Payments Dividend Announcement

The firm also recently disclosed 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 is Friday, December 12th. This represents a $1.00 annualized dividend and a yield of 1.3%. Global Payments’s dividend payout ratio (DPR) is 14.04%.

Insider Transactions at Global Payments

In other news, insider David Lawrence Green sold 11,600 shares of the business’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $79.99, for a total transaction of $927,884.00. Following the transaction, the insider directly owned 68,096 shares of the company’s stock, valued at approximately $5,446,999.04. The trade was a 14.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Patricia A. Watson bought 1,331 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The shares were acquired at an average price of $75.06 per share, with a total value of $99,904.86. Following the acquisition, the director owned 2,651 shares of the company’s stock, valued at $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. Corporate insiders own 1.01% of the company’s stock.

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.