DNB Asset Management AS Decreases Holdings in Global Payments Inc. $GPN

DNB Asset Management AS reduced its holdings in shares of Global Payments Inc. (NYSE:GPN) by 1.9% in the 2nd quarter, HoldingsChannel reports. The fund owned 44,439 shares of the business services provider’s stock after selling 845 shares during the quarter. DNB Asset Management AS’s holdings in Global Payments were worth $3,557,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pzena Investment Management LLC lifted its stake in 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 worth $884,462,000 after purchasing an additional 2,716,156 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake 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 valued at $165,760,000 after purchasing an additional 98,815 shares during the last quarter. Amundi raised its holdings in Global Payments by 77.5% during the first quarter. Amundi now owns 2,001,585 shares of the business services provider’s stock worth $186,107,000 after purchasing an additional 874,175 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Global Payments by 2.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,955,393 shares of the business services provider’s stock worth $191,451,000 after purchasing an additional 49,029 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Global Payments by 0.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,624,288 shares of the business services provider’s stock worth $159,050,000 after buying an additional 9,755 shares during the last quarter. Institutional investors and hedge funds own 89.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on GPN. Wells Fargo & Company raised shares of Global Payments to a “strong-buy” rating in a research report on Wednesday, October 22nd. Zacks Research raised Global Payments to a “hold” rating in a report on Tuesday, November 18th. Citigroup upgraded Global Payments to a “strong-buy” rating in a research report on Thursday, October 23rd. TD Cowen boosted their target price on Global Payments from $92.00 to $95.00 and gave the company a “hold” rating in a report on Wednesday, November 5th. Finally, Truist Financial dropped their price target on Global Payments from $90.00 to $84.00 and set a “hold” rating on the stock in a research note on Thursday, November 13th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and fifteen have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $103.90.

Insider Buying and Selling at Global Payments

In other Global Payments news, Director Connie D. Mcdaniel sold 4,464 shares of the company’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $77.81, for a total transaction of $347,343.84. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Patricia A. Watson bought 1,331 shares of Global Payments stock in a transaction dated Friday, November 7th. The stock was purchased at an average price of $75.06 per share, with a total value of $99,904.86. Following the purchase, the director directly owned 2,651 shares in the company, valued at approximately $198,984.06. This trade represents a 100.83% increase in their position. The disclosure for this purchase is available in the SEC filing. 1.01% of the stock is owned by company insiders.

Global Payments Price Performance

Shares of GPN opened at $72.86 on Tuesday. Global Payments Inc. has a fifty-two week low of $65.93 and a fifty-two week high of $120.00. The company has a market capitalization of $17.25 billion, a price-to-earnings ratio of 12.74, a price-to-earnings-growth ratio of 0.76 and a beta of 0.95. The firm has a 50-day simple moving average of $82.15 and a 200-day simple moving average of $81.74. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95.

Global Payments (NYSE:GPN) last issued 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 firm 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 12.47% and a net margin of 15.07%.During the same quarter in the previous year, the firm posted $3.08 EPS. 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 earnings per share for the current year.

Global Payments Dividend Announcement

The business 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 dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Friday, December 12th. Global Payments’s dividend payout ratio is 14.04%.

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.