Prudential Financial Inc. Buys 29,370 Shares of Global Payments Inc. $GPN

Prudential Financial Inc. raised its stake in shares of Global Payments Inc. (NYSE:GPN) by 8.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 389,343 shares of the business services provider’s stock after buying an additional 29,370 shares during the period. Prudential Financial Inc. owned about 0.16% of Global Payments worth $31,163,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pzena Investment Management LLC grew its holdings in shares of Global Payments by 32.6% in 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 acquiring an additional 2,716,156 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings 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 acquiring an additional 98,815 shares during the period. Amundi boosted its position in Global Payments by 77.5% in 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 during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Global Payments by 2.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,955,393 shares of the business services provider’s stock valued at $191,451,000 after purchasing an additional 49,029 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Global Payments by 1.5% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,649,083 shares of the business services provider’s stock valued at $131,993,000 after purchasing an additional 24,795 shares during the period. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

Global Payments Stock Performance

Shares of NYSE GPN opened at $72.86 on Tuesday. The stock has a market cap of $17.25 billion, a PE ratio of 12.74, a price-to-earnings-growth ratio of 0.76 and a beta of 0.95. Global Payments Inc. has a 1 year low of $65.93 and a 1 year high of $120.00. The firm has a fifty day moving average price of $82.15 and a 200-day moving average price of $81.74. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95.

Global Payments (NYSE:GPN) last released its earnings results on Tuesday, November 4th. The business services provider reported $3.26 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 15.07% and a return on equity of 12.47%. During the same quarter in the previous year, the company earned $3.08 EPS. Global Payments has set its FY 2025 guidance at 6.600-6.666 EPS. Equities analysts anticipate that Global Payments Inc. will post 11.89 earnings per share for the current fiscal year.

Global Payments Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 26th. Stockholders of record on Friday, December 12th will be paid 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 dividend payout ratio is 14.04%.

Insider Activity

In other Global Payments news, Director Connie D. Mcdaniel sold 4,464 shares of the stock in a transaction that occurred 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 sale, the director directly owned 30,014 shares of the company’s stock, valued at $2,335,389.34. This trade represents a 12.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Patricia A. Watson acquired 1,331 shares of Global Payments stock in a transaction dated 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 transaction, 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. Company insiders own 1.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on GPN shares. Cowen reiterated a “hold” rating on shares of Global Payments in a research note on Wednesday, November 5th. JPMorgan Chase & Co. increased their price target on shares of Global Payments from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Thursday, August 7th. TD Cowen lifted their price target on shares of Global Payments from $92.00 to $95.00 and gave the stock a “hold” rating in a research note on Wednesday, November 5th. Raymond James Financial reissued an “outperform” rating and set a $105.00 price objective on shares of Global Payments in a research report on Tuesday, November 4th. Finally, Evercore ISI decreased their target price on Global Payments from $90.00 to $85.00 in a report on Tuesday, November 11th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and fifteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $103.90.

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.