6,540 Shares in Global Payments Inc. (NYSE:GPN) Bought by Quantitative Investment Management LLC

Quantitative Investment Management LLC bought a new position in shares of Global Payments Inc. (NYSE:GPNGet Rating) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 6,540 shares of the business services provider’s stock, valued at approximately $894,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Skandinaviska Enskilda Banken AB publ increased its holdings in Global Payments by 19.4% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 11,419 shares of the business services provider’s stock valued at $1,556,000 after buying an additional 1,855 shares during the period. Panagora Asset Management Inc. boosted its stake in shares of Global Payments by 1.0% in the 4th quarter. Panagora Asset Management Inc. now owns 10,644 shares of the business services provider’s stock valued at $1,439,000 after purchasing an additional 103 shares in the last quarter. Pinebridge Investments L.P. boosted its stake in shares of Global Payments by 228.3% in the 4th quarter. Pinebridge Investments L.P. now owns 23,637 shares of the business services provider’s stock valued at $3,195,000 after purchasing an additional 16,437 shares in the last quarter. BRYN MAWR TRUST Co boosted its stake in shares of Global Payments by 5.4% in the 4th quarter. BRYN MAWR TRUST Co now owns 38,969 shares of the business services provider’s stock valued at $5,267,000 after purchasing an additional 2,009 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of Global Payments by 0.9% in the 4th quarter. Rhumbline Advisers now owns 461,631 shares of the business services provider’s stock valued at $62,403,000 after purchasing an additional 4,183 shares in the last quarter. Institutional investors own 85.61% of the company’s stock.

Insider Activity

In other news, CAO David M. Sheffield sold 3,500 shares of the company’s stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $133.20, for a total value of $466,200.00. Following the completion of the sale, the chief accounting officer now directly owns 28,737 shares of the company’s stock, valued at approximately $3,827,768.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.19% of the stock is currently owned by company insiders.

Global Payments Stock Performance

Shares of GPN stock opened at $132.63 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a market cap of $36.76 billion, a PE ratio of 736.87, a price-to-earnings-growth ratio of 0.90 and a beta of 1.02. The stock has a 50-day moving average of $124.08 and a 200-day moving average of $126.67. Global Payments Inc. has a one year low of $105.52 and a one year high of $173.89.

Global Payments (NYSE:GPNGet Rating) last announced its quarterly earnings results on Monday, August 1st. The business services provider reported $2.36 EPS for the quarter, beating analysts’ consensus estimates of $2.34 by $0.02. The company had revenue of $2.28 billion during the quarter, compared to analysts’ expectations of $2.09 billion. Global Payments had a return on equity of 9.24% and a net margin of 0.87%. Global Payments’s revenue was up 6.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.92 EPS. As a group, sell-side analysts expect that Global Payments Inc. will post 9 earnings per share for the current year.

Global Payments announced that its board has initiated a share repurchase program on Monday, August 1st that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the business services provider to repurchase up to 4.2% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Global Payments Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 16th will be paid a $0.25 dividend. The ex-dividend date is Thursday, September 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.75%. Global Payments’s dividend payout ratio (DPR) is presently 555.59%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Wells Fargo & Company reduced their target price on shares of Global Payments from $156.00 to $150.00 and set an “overweight” rating on the stock in a research note on Thursday. Morgan Stanley boosted their target price on shares of Global Payments from $123.00 to $141.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 2nd. BMO Capital Markets boosted their target price on shares of Global Payments from $217.00 to $232.00 in a research note on Wednesday, August 3rd. Raymond James reduced their target price on shares of Global Payments from $190.00 to $174.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 2nd. Finally, Truist Financial upped their price target on shares of Global Payments from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Tuesday, August 2nd. Six analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to MarketBeat, Global Payments currently has a consensus rating of “Moderate Buy” and a consensus target price of $173.36.

Global Payments Profile

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Global Payments Inc provides payment technology and software solutions for card, electronic, check, and digital-based payments in the Americas, Europe, and the Asia-Pacific. It operates through three segments: Merchant Solutions, Issuer Solutions, and Business and Consumer Solutions. The Merchant Solutions segment offers authorization services, settlement and funding services, customer support and help-desk functions, chargeback resolution, terminal rental, sales and deployment, payment security services, consolidated billing and statements, and on-line reporting services.

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Institutional Ownership by Quarter for Global Payments (NYSE:GPN)

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