AustralianSuper Pty Ltd Purchases 164,097 Shares of Global Payments Inc. $GPN

AustralianSuper Pty Ltd increased its position in Global Payments Inc. (NYSE:GPN) by 1,056.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 179,629 shares of the business services provider’s stock after acquiring an additional 164,097 shares during the quarter. AustralianSuper Pty Ltd’s holdings in Global Payments were worth $14,378,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of GPN. Brighton Jones LLC bought a new position in Global Payments in the 4th quarter worth $725,000. GAMMA Investing LLC raised its holdings in Global Payments by 76.0% in the 1st quarter. GAMMA Investing LLC now owns 3,728 shares of the business services provider’s stock worth $365,000 after acquiring an additional 1,610 shares during the period. Golden State Wealth Management LLC raised its holdings in Global Payments by 4,866.7% in the 1st quarter. Golden State Wealth Management LLC now owns 447 shares of the business services provider’s stock worth $44,000 after acquiring an additional 438 shares during the period. Perigon Wealth Management LLC increased its holdings in shares of Global Payments by 3.8% during the 1st quarter. Perigon Wealth Management LLC now owns 3,932 shares of the business services provider’s stock worth $385,000 after purchasing an additional 144 shares during the period. Finally, Robeco Institutional Asset Management B.V. raised its position in shares of Global Payments by 216.7% during the first quarter. Robeco Institutional Asset Management B.V. now owns 29,724 shares of the business services provider’s stock valued at $2,911,000 after buying an additional 20,338 shares during the last quarter. Institutional investors own 89.76% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on GPN. Mizuho raised shares of Global Payments from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $86.00 to $114.00 in a research report on Friday, July 25th. Truist Financial upped their price objective on shares of Global Payments from $79.00 to $83.00 and gave the company a “hold” rating in a research report on Thursday, July 17th. Evercore ISI upped their price objective on shares of Global Payments from $85.00 to $90.00 and gave the company an “in-line” rating in a research report on Friday, August 8th. Citigroup raised shares of Global Payments to a “strong-buy” rating in a research report on Thursday, October 23rd. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Global Payments from $81.00 to $85.00 and gave the company a “market perform” rating in a research report on Wednesday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and fourteen have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $103.37.

Insiders Place Their Bets

In related news, General Counsel Dara L. Steele-Belkin sold 2,000 shares of the company’s stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $86.00, for a total value of $172,000.00. Following the sale, the general counsel owned 30,713 shares of the company’s stock, valued at $2,641,318. The trade was a 6.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.01% of the stock is currently owned by insiders.

Global Payments Stock Performance

NYSE GPN opened at $86.77 on Tuesday. The stock has a market cap of $21.05 billion, a P/E ratio of 15.17, a PEG ratio of 0.83 and a beta of 0.98. The company’s 50-day simple moving average is $86.54 and its 200 day simple moving average is $81.82. Global Payments Inc. has a twelve month low of $65.93 and a twelve month high of $120.00. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61.

Global Payments (NYSE:GPN) last posted its earnings results on Wednesday, August 6th. The business services provider reported $3.10 earnings per share for the quarter, beating analysts’ consensus estimates of $3.06 by $0.04. The business had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $2.36 billion. Global Payments had a net margin of 15.07% and a return on equity of 12.47%. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.93 earnings per share. As a group, research analysts forecast that Global Payments Inc. will post 11.89 earnings per share for the current fiscal year.

Global Payments Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, September 12th. This represents a $1.00 dividend on an annualized basis and a yield of 1.2%. Global Payments’s payout ratio is presently 17.48%.

Global Payments 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.