Global Payments Inc. $GPN Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB cut its stake in shares of Global Payments Inc. (NYSE:GPN) by 8.4% during the second quarter, Holdings Channel reports. The firm owned 52,201 shares of the business services provider’s stock after selling 4,782 shares during the quarter. Handelsbanken Fonder AB’s holdings in Global Payments were worth $4,178,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of GPN. LRI Investments LLC raised its holdings 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 period. MassMutual Private Wealth & Trust FSB raised 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 lifted its position in shares of Global Payments by 5.1% in the 2nd 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 in the last quarter. Pinnacle Associates Ltd. boosted its stake in Global Payments by 4.1% in the 1st quarter. Pinnacle Associates Ltd. now owns 4,342 shares of the business services provider’s stock worth $425,000 after purchasing an additional 171 shares during the period. Finally, WESCAP Management Group Inc. boosted its stake in Global Payments by 2.5% in the 1st quarter. WESCAP Management Group Inc. now owns 7,102 shares of the business services provider’s stock worth $695,000 after purchasing an additional 176 shares during the period. Institutional investors and hedge funds own 89.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GPN. TD Cowen boosted their target price on shares of Global Payments from $92.00 to $95.00 and gave the company a “hold” rating in a research note on Wednesday, November 5th. Weiss Ratings reissued a “hold (c-)” rating on shares of Global Payments in a research report on Wednesday, October 8th. Zacks Research raised Global Payments to a “hold” rating in a research note on Tuesday, November 18th. KeyCorp cut Global Payments from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, October 22nd. Finally, UBS Group upped their target price on Global Payments from $85.00 to $93.00 and gave the company a “neutral” rating in a report on Thursday, August 7th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and fifteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $103.90.

Global Payments Trading Down 0.9%

NYSE:GPN opened at $72.86 on Tuesday. The company has a market capitalization of $17.25 billion, a P/E ratio of 12.74, a P/E/G ratio of 0.76 and a beta of 0.95. The stock’s 50 day moving average price is $82.15 and its 200 day moving average price is $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 Inc. has a 52 week low of $65.93 and a 52 week high of $120.00.

Global Payments (NYSE:GPN) last posted 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 during the quarter, compared to the consensus estimate of $2.41 billion. Global Payments had a net margin of 15.07% and a return on equity of 12.47%. 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, research analysts forecast that Global Payments Inc. will post 11.89 EPS 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 given a $0.25 dividend. The ex-dividend date of this dividend is Friday, December 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.4%. Global Payments’s payout ratio is currently 14.04%.

Insider Activity

In other news, Director Connie D. Mcdaniel sold 4,464 shares of the stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $77.81, for a total transaction of $347,343.84. Following the transaction, the director owned 30,014 shares of the company’s stock, 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 SEC, which is accessible through this link. Also, Director Patricia A. Watson purchased 1,331 shares of the stock in a transaction on Friday, November 7th. The shares were bought at an average price of $75.06 per share, for a total transaction of $99,904.86. Following the acquisition, the director owned 2,651 shares of the company’s stock, valued at approximately $198,984.06. The trade was a 100.83% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 1.01% of the company’s stock.

Global Payments Company 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.