Global Payments Inc. $GPN Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. lessened its holdings in shares of Global Payments Inc. (NYSE:GPN) by 51.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 6,783 shares of the business services provider’s stock after selling 7,310 shares during the quarter. QRG Capital Management Inc.’s holdings in Global Payments were worth $564,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Pettee Investors Inc. raised its position in Global Payments by 24.1% during the second quarter. Pettee Investors Inc. now owns 15,672 shares of the business services provider’s stock valued at $1,254,000 after acquiring an additional 3,040 shares in the last quarter. HB Wealth Management LLC grew its stake in shares of Global Payments by 213.9% during the 3rd quarter. HB Wealth Management LLC now owns 36,861 shares of the business services provider’s stock worth $3,062,000 after purchasing an additional 25,118 shares during the period. Saiph Capital LLC purchased a new position in shares of Global Payments during the 2nd quarter valued at approximately $7,269,000. Sound Income Strategies LLC increased its holdings in shares of Global Payments by 7.9% during the 2nd quarter. Sound Income Strategies LLC now owns 60,905 shares of the business services provider’s stock valued at $4,875,000 after purchasing an additional 4,478 shares in the last quarter. Finally, Laurel Wealth Advisors LLC lifted its stake in shares of Global Payments by 7,904.3% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 22,172 shares of the business services provider’s stock valued at $1,775,000 after purchasing an additional 21,895 shares during the period. 89.76% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Global Payments

In other news, Director Connie D. Mcdaniel sold 4,464 shares of the stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $77.81, for a total value of $347,343.84. Following the completion of the sale, the director directly owned 30,014 shares in the company, valued at $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 Securities & Exchange Commission, which is available at this link. Also, EVP David M. Sheffield sold 2,016 shares of the firm’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $81.41, for a total transaction of $164,122.56. Following the completion of the transaction, the executive vice president directly owned 14,438 shares in the company, valued at approximately $1,175,397.58. This represents a 12.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have bought 14,723 shares of company stock valued at $1,186,772 and have sold 18,080 shares valued at $1,439,350. 1.01% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently commented on the stock. Royal Bank Of Canada raised their price target on shares of Global Payments from $93.00 to $95.00 and gave the company a “sector perform” rating in a research report on Wednesday, November 5th. Deutsche Bank Aktiengesellschaft assumed coverage on Global Payments in a research report on Wednesday, January 14th. They set a “hold” rating and a $80.00 target price on the stock. Truist Financial set a $85.00 price target on Global Payments in a report on Tuesday. Citigroup upgraded Global Payments to a “strong-buy” rating in a research report on Thursday, October 23rd. Finally, KeyCorp cut Global Payments from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, October 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $98.67.

Global Payments Price Performance

NYSE:GPN opened at $75.98 on Friday. The stock has a 50 day moving average of $77.46 and a two-hundred day moving average of $81.69. Global Payments Inc. has a 12 month low of $65.93 and a 12 month high of $114.17. The firm has a market cap of $17.99 billion, a P/E ratio of 10.67, a price-to-earnings-growth ratio of 0.48 and a beta of 0.79. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.57.

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 the consensus estimate of $3.23 by $0.03. Global Payments had a return on equity of 12.66% and a net margin of 19.68%.The business had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same quarter last year, the business posted $3.08 earnings per share. Global Payments has set its FY 2025 guidance at 6.600-6.666 EPS. On average, analysts expect 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, December 26th. Stockholders of record on Friday, December 12th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, December 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.3%. Global Payments’s dividend payout ratio is presently 14.04%.

Global Payments Profile

Global Payments Inc (NYSE: GPN) is a worldwide provider of payment technology and software solutions that enables commerce for merchants, issuers and enterprises. The company develops and operates payment processing networks, point-of-sale systems and cloud-based software that facilitate electronic transactions across in-store, online and mobile channels. Its services span merchant acquiring, payment gateway services, omnichannel commerce platforms, and solutions for recurring and subscription billing.

Global Payments offers a range of products and services including integrated payment terminals and point-of-sale software, e-commerce and gateway technologies, fraud prevention and tokenization tools, and business analytics and reporting.