Sterling Capital Management LLC lowered its stake in Global Payments Inc. (NYSE:GPN – Free Report) by 61.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 61,950 shares of the business services provider’s stock after selling 98,446 shares during the period. Sterling Capital Management LLC’s holdings in Global Payments were worth $4,169,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Westpac Banking Corp lifted its position in Global Payments by 5,795.1% in the fourth quarter. Westpac Banking Corp now owns 57,182 shares of the business services provider’s stock valued at $4,426,000 after purchasing an additional 56,212 shares during the period. Moore Capital Management LP boosted its holdings in Global Payments by 13.3% in the 3rd quarter. Moore Capital Management LP now owns 231,200 shares of the business services provider’s stock valued at $19,208,000 after purchasing an additional 27,200 shares in the last quarter. Invenomic Capital Management LP increased its position in Global Payments by 11.1% during the 3rd quarter. Invenomic Capital Management LP now owns 681,094 shares of the business services provider’s stock worth $56,585,000 after purchasing an additional 68,071 shares during the period. Jain Global LLC acquired a new position in Global Payments during the 3rd quarter worth approximately $10,656,000. Finally, LSV Asset Management raised its stake in shares of Global Payments by 30.8% during the 4th quarter. LSV Asset Management now owns 448,100 shares of the business services provider’s stock worth $34,683,000 after buying an additional 105,500 shares in the last quarter. 89.76% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on GPN. Citigroup decreased their price target on Global Payments from $110.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, April 2nd. Argus reduced their target price on Global Payments from $100.00 to $95.00 in a report on Friday, May 8th. Susquehanna set a $111.00 target price on shares of Global Payments and gave the stock a “positive” rating in a research report on Wednesday, June 3rd. Stephens set a $80.00 price target on shares of Global Payments and gave the stock an “equal weight” rating in a research note on Thursday, May 7th. Finally, BMO Capital Markets initiated coverage on shares of Global Payments in a report on Tuesday, April 21st. They issued a “market perform” rating and a $76.00 price target for the company. Five research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $83.87.
Global Payments Stock Performance
NYSE GPN opened at $69.93 on Friday. Global Payments Inc. has a 1-year low of $61.16 and a 1-year high of $90.64. The company has a market capitalization of $19.13 billion, a P/E ratio of -34.28, a PEG ratio of 0.39 and a beta of 0.76. The business has a 50 day moving average price of $69.23 and a 200 day moving average price of $72.41. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.79 and a quick ratio of 0.79.
Global Payments (NYSE:GPN – Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The business services provider reported $2.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.82 by $0.14. The firm had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.81 billion. Global Payments had a positive return on equity of 13.11% and a negative net margin of 7.99%.Global Payments’s revenue was up 63.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.82 earnings per share. Global Payments has set its FY 2026 guidance at 13.800-14.000 EPS. Sell-side analysts expect that Global Payments Inc. will post 13.86 EPS for the current fiscal year.
Global Payments Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Friday, June 12th. Global Payments’s payout ratio is -49.02%.
About Global Payments
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.
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