Los Angeles Capital Management LLC Acquires New Holdings in Global Payments Inc. $GPN

Los Angeles Capital Management LLC bought a new stake in Global Payments Inc. (NYSE:GPN) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 17,521 shares of the business services provider’s stock, valued at approximately $1,402,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Pettee Investors Inc. boosted its stake 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 valued at $1,254,000 after purchasing an additional 3,040 shares in the last quarter. Malaga Cove Capital LLC increased its stake in shares of Global Payments by 85.0% in the first quarter. Malaga Cove Capital LLC now owns 15,094 shares of the business services provider’s stock valued at $1,478,000 after buying an additional 6,933 shares during the period. National Pension Service raised its holdings 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 valued at $38,958,000 after buying an additional 18,334 shares during the last quarter. Sound Income Strategies LLC raised its holdings 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 valued at $4,875,000 after buying an additional 4,478 shares during the last quarter. Finally, Leith Wheeler Investment Counsel Ltd. boosted its position in Global Payments by 6.3% during the 1st quarter. Leith Wheeler Investment Counsel Ltd. now owns 366,389 shares of the business services provider’s stock worth $35,877,000 after buying an additional 21,686 shares during the period. Institutional investors own 89.76% of the company’s stock.

Insider Buying and Selling

In other Global Payments news, Director Patricia A. Watson bought 1,331 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The stock was acquired at an average price of $75.06 per share, with a total value of $99,904.86. Following the completion of the purchase, the director directly owned 2,651 shares of the company’s stock, valued at approximately $198,984.06. This trade represents a 100.83% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 1.01% of the stock is owned by corporate insiders.

Global Payments Trading Up 0.2%

GPN opened at $77.40 on Thursday. Global Payments Inc. has a twelve month low of $65.93 and a twelve month high of $120.00. The company has a fifty day moving average of $84.28 and a 200-day moving average of $81.98. The stock has a market cap of $18.32 billion, a PE ratio of 13.53, a price-to-earnings-growth ratio of 0.76 and a beta of 0.95. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61.

Global Payments (NYSE:GPN) last released its 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 business 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 quarter in the previous year, the business earned $3.08 earnings per share. Global Payments has set its FY 2025 guidance at 6.600-6.666 EPS. On average, sell-side analysts predict that Global Payments Inc. will post 11.89 EPS for the current year.

Global Payments Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 26th. Investors of record on Friday, December 12th will be given a dividend of $0.25 per share. The ex-dividend date 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 presently 14.04%.

Analyst Upgrades and Downgrades

GPN has been the subject of several recent research reports. Mizuho upgraded shares of Global Payments from a “neutral” rating to an “outperform” rating and upped their price target for the company from $86.00 to $114.00 in a research report on Friday, July 25th. Raymond James Financial reissued an “outperform” rating and issued a $105.00 price objective on shares of Global Payments in a research note on Tuesday, November 4th. JPMorgan Chase & Co. increased their price objective on Global Payments from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Thursday, August 7th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Global Payments in a research report on Wednesday, October 8th. Finally, Citigroup raised Global Payments to a “strong-buy” rating in a report on Thursday, October 23rd. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and fourteen have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $104.10.

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.