HB Wealth Management LLC Acquires 25,118 Shares of Global Payments Inc. $GPN

HB Wealth Management LLC lifted its holdings in Global Payments Inc. (NYSE:GPN) by 213.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,861 shares of the business services provider’s stock after purchasing an additional 25,118 shares during the quarter. HB Wealth Management LLC’s holdings in Global Payments were worth $3,062,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Pzena Investment Management LLC raised its holdings in shares of Global Payments by 32.6% during the second quarter. Pzena Investment Management LLC now owns 11,050,253 shares of the business services provider’s stock valued at $884,462,000 after purchasing an additional 2,716,156 shares during the last quarter. Glenview Capital Management LLC grew its position in Global Payments by 13.8% during the second quarter. Glenview Capital Management LLC now owns 4,316,892 shares of the business services provider’s stock valued at $345,524,000 after buying an additional 523,209 shares during the period. Norges Bank purchased a new stake in shares of Global Payments in the 2nd quarter worth $273,844,000. Massachusetts Financial Services Co. MA increased its position in Global Payments by 5.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,070,960 shares of the business services provider’s stock worth $165,760,000 after buying an additional 98,815 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Global Payments by 1.5% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,649,083 shares of the business services provider’s stock worth $131,993,000 after acquiring an additional 24,795 shares in the last quarter. 89.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Global Payments

In other Global Payments news, EVP David M. Sheffield sold 2,016 shares of the business’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $81.41, for a total transaction of $164,122.56. Following the transaction, the executive vice president owned 14,438 shares in the company, valued at $1,175,397.58. The trade was a 12.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert H. B. Baldwin, Jr. bought 10,392 shares of the stock in a transaction dated Thursday, December 11th. The stock was purchased at an average price of $81.42 per share, with a total value of $846,116.64. Following the acquisition, the director directly owned 59,303 shares in the company, valued at approximately $4,828,450.26. The trade was a 21.25% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders bought 14,723 shares of company stock valued at $1,186,772 and sold 18,080 shares valued at $1,439,350. 1.01% of the stock is owned by corporate insiders.

Global Payments Stock Up 1.1%

Shares of NYSE GPN opened at $79.53 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.57. Global Payments Inc. has a 12-month low of $65.93 and a 12-month high of $114.17. The firm’s 50-day moving average price is $77.78 and its 200-day moving average price is $81.99. The stock has a market capitalization of $18.83 billion, a price-to-earnings ratio of 11.17, a P/E/G ratio of 0.66 and a beta of 0.79.

Global Payments (NYSE:GPN) last issued its quarterly earnings data on Tuesday, November 4th. The business services provider reported $3.26 earnings per share 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 analysts’ expectations of $2.41 billion. Global Payments had a return on equity of 12.66% and a net margin of 19.68%.During the same period in the previous year, the firm posted $3.08 earnings per share. Global Payments has set its FY 2025 guidance at 6.600-6.666 EPS. On average, equities research analysts anticipate that Global Payments Inc. will post 11.89 EPS for the current fiscal year.

Global Payments Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 26th. Investors of record on Friday, December 12th were given a $0.25 dividend. The ex-dividend date was Friday, December 12th. This represents a $1.00 dividend on an annualized basis and a yield of 1.3%. Global Payments’s dividend payout ratio (DPR) is currently 14.04%.

Analysts Set New Price Targets

A number of research analysts recently commented on GPN shares. Zacks Research raised Global Payments to a “hold” rating in a report on Tuesday, November 18th. TD Cowen lifted their price target on shares of Global Payments from $92.00 to $95.00 and gave the company a “hold” rating in a report on Wednesday, November 5th. 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 research note on Monday, November 24th. Raymond James Financial restated an “outperform” rating and set a $105.00 price objective on shares of Global Payments in a research report on Tuesday, November 4th. Finally, Rothschild & Co Redburn boosted their target price on Global Payments from $65.00 to $70.00 and gave the stock a “sell” rating in a research report on Wednesday, December 3rd. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $100.32.

Global Payments Profile

Global Payments Inc (NYSE: GPN) is a worldwide provider of payment technology and software solutions that enables commerce for merchants, issuers and enterprises. The company develops and operates payment processing networks, point-of-sale systems and cloud-based software that facilitate electronic transactions across in-store, online and mobile channels. Its services span merchant acquiring, payment gateway services, omnichannel commerce platforms, and solutions for recurring and subscription billing.

Global Payments offers a range of products and services including integrated payment terminals and point-of-sale software, e-commerce and gateway technologies, fraud prevention and tokenization tools, and business analytics and reporting.