Malaga Cove Capital LLC Has $1.46 Million Stock Position in Global Payments Inc. $GPN

Malaga Cove Capital LLC increased its holdings in Global Payments Inc. (NYSE:GPN) by 21.0% during the second quarter, HoldingsChannel reports. The fund owned 18,267 shares of the business services provider’s stock after acquiring an additional 3,173 shares during the quarter. Malaga Cove Capital LLC’s holdings in Global Payments were worth $1,462,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GPN. LRI Investments LLC lifted its holdings in shares of Global Payments by 53.4% in the second quarter. LRI Investments LLC now owns 382 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 133 shares in the last quarter. Larson Financial Group LLC boosted its holdings in Global Payments by 546.6% during the 1st quarter. Larson Financial Group LLC now owns 375 shares of the business services provider’s stock worth $37,000 after acquiring an additional 317 shares during the last quarter. Zions Bancorporation National Association UT bought a new stake in shares of Global Payments in the 1st quarter worth $37,000. Quarry LP bought a new position in shares of Global Payments during the first quarter valued at about $42,000. Finally, WPG Advisers LLC bought a new stake in Global Payments in the 1st quarter worth about $49,000. 89.76% of the stock is owned by institutional investors.

Global Payments Price Performance

Shares of NYSE:GPN opened at $76.39 on Friday. The company has a 50-day moving average price of $85.19 and a two-hundred day moving average price of $81.75. 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. The firm has a market capitalization of $18.53 billion, a PE ratio of 13.36, a P/E/G ratio of 0.76 and a beta of 0.95.

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, beating analysts’ consensus estimates of $3.23 by $0.03. Global Payments had a net margin of 15.07% and a return on equity of 12.47%. The firm had revenue of $2.01 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same quarter in the previous year, the firm posted $3.08 EPS. Global Payments has set its FY 2025 guidance at 6.600-6.666 EPS. Equities analysts forecast that Global Payments Inc. will post 11.89 EPS for the current year.

Global Payments Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 26th. Investors of record on Friday, December 12th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Friday, December 12th. Global Payments’s dividend payout ratio is presently 14.04%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. KeyCorp downgraded Global Payments from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, October 22nd. TD Cowen lifted their target price on Global Payments from $92.00 to $95.00 and gave the stock a “hold” rating in a research note on Wednesday. Citigroup raised shares of Global Payments to a “strong-buy” rating in a report on Thursday, October 23rd. Truist Financial raised their price objective on shares of Global Payments from $79.00 to $83.00 and gave the stock a “hold” rating in a report on Thursday, July 17th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Global Payments in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and fourteen have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $104.10.

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.