Hsbc Holdings PLC Increases Holdings in Global Payments Inc. $GPN

Hsbc Holdings PLC grew its stake in shares of Global Payments Inc. (NYSE:GPN) by 99.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,124,558 shares of the business services provider’s stock after acquiring an additional 560,936 shares during the quarter. Hsbc Holdings PLC owned about 0.46% of Global Payments worth $89,820,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Zions Bancorporation National Association UT purchased a new stake in shares of Global Payments during the 1st quarter valued at about $37,000. LRI Investments LLC lifted its stake in shares of Global Payments by 53.4% in the 2nd quarter. LRI Investments LLC now owns 382 shares of the business services provider’s stock worth $31,000 after purchasing an additional 133 shares during the period. Quarry LP bought a new stake in Global Payments during the first quarter valued at approximately $42,000. WPG Advisers LLC bought a new stake in shares of Global Payments during the 1st quarter valued at $49,000. Finally, MTM Investment Management LLC bought a new position in Global Payments in the 2nd quarter worth $50,000. 89.76% of the stock is owned by hedge funds and other institutional investors.

Global Payments Trading Up 2.4%

GPN opened at $76.78 on Friday. The firm has a market capitalization of $18.18 billion, a price-to-earnings ratio of 13.42, a price-to-earnings-growth ratio of 0.76 and a beta of 0.95. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. The company’s 50 day simple moving average is $81.31 and its two-hundred day simple moving average is $81.55. Global Payments Inc. has a 1-year low of $65.93 and a 1-year high of $120.00.

Global Payments (NYSE:GPN) last announced its earnings results 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 during 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 last year, the firm posted $3.08 earnings per share. Global Payments has set its FY 2025 guidance at 6.600-6.666 EPS. Analysts expect that Global Payments Inc. will post 11.89 EPS for the current fiscal year.

Global Payments Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 26th. Shareholders 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 dividend on an annualized basis and a yield of 1.3%. Global Payments’s dividend payout ratio is presently 14.04%.

Insider Activity

In related news, Director Connie D. Mcdaniel sold 4,464 shares of the company’s 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 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Patricia A. Watson purchased 1,331 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The shares were bought at an average cost of $75.06 per share, with a total value of $99,904.86. Following the transaction, the director directly owned 2,651 shares of the company’s stock, valued at $198,984.06. The trade was a 100.83% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 1.01% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of Global Payments in a research note on Wednesday, October 8th. UBS Group upped their price objective on Global Payments from $85.00 to $93.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. Raymond James Financial restated an “outperform” rating and issued a $105.00 target price on shares of Global Payments in a report on Tuesday, November 4th. Evercore ISI dropped their target price on Global Payments from $90.00 to $85.00 in a report on Tuesday, November 11th. Finally, Royal Bank Of Canada upped their price objective on Global Payments from $93.00 to $95.00 and gave the company a “sector perform” rating in a research report on Wednesday, November 5th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and fifteen have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $103.90.

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.