Skandinaviska Enskilda Banken AB publ Has $490,000 Holdings in Global Payments Inc. (NYSE:GPN)

Posted by Defense World Staff on Feb 25th, 2023

Skandinaviska Enskilda Banken AB publ decreased its position in shares of Global Payments Inc. (NYSE:GPN – Get Rating) by 11.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,531 shares of the business services provider’s stock after selling 606 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Global Payments were worth $490,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of GPN. American Century Companies Inc. lifted its holdings in shares of Global Payments by 10.3% during the first quarter. American Century Companies Inc. now owns 6,136 shares of the business services provider’s stock worth $840,000 after buying an additional 572 shares during the last quarter. Private Advisor Group LLC raised its stake in Global Payments by 7.7% during the 1st quarter. Private Advisor Group LLC now owns 3,942 shares of the business services provider’s stock valued at $539,000 after purchasing an additional 281 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Global Payments by 3.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,288,788 shares of the business services provider’s stock valued at $176,366,000 after purchasing an additional 48,605 shares during the period. Vontobel Holding Ltd. grew its position in Global Payments by 259.7% in the 1st quarter. Vontobel Holding Ltd. now owns 17,285 shares of the business services provider’s stock worth $2,377,000 after purchasing an additional 12,479 shares during the last quarter. Finally, Prudential PLC bought a new position in shares of Global Payments during the 1st quarter worth about $766,000. 87.58% of the stock is currently owned by institutional investors.

Global Payments Price Performance

Shares of GPN stock opened at $112.21 on Friday. Global Payments Inc. has a 52 week low of $92.27 and a 52 week high of $146.71. The stock has a market capitalization of $29.53 billion, a PE ratio of 255.03, a PEG ratio of 0.74 and a beta of 0.99. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.96 and a current ratio of 0.92. The stock’s fifty day moving average is $108.09 and its 200-day moving average is $112.05.

Global Payments (NYSE:GPN – Get Rating) last issued its quarterly earnings data on Friday, February 10th. The business services provider reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $2.34 by $0.08. Global Payments had a net margin of 1.24% and a return on equity of 10.30%. The firm had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same quarter in the prior year, the firm earned $2.03 EPS. The company’s revenue was up 2.7% on a year-over-year basis. Equities research analysts expect that Global Payments Inc. will post 9.87 EPS for the current fiscal year.

Global Payments Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Friday, March 17th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.89%. The ex-dividend date is Thursday, March 16th. Global Payments’s dividend payout ratio is 227.28%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on GPN shares. Morgan Stanley increased their target price on shares of Global Payments from $135.00 to $144.00 and gave the company an “overweight” rating in a research note on Monday, February 13th. UBS Group lowered their price objective on Global Payments from $160.00 to $157.00 and set a “buy” rating on the stock in a research report on Thursday, December 15th. Stephens restated an “overweight” rating and issued a $135.00 target price on shares of Global Payments in a research note on Monday, February 13th. Wells Fargo & Company lifted their price target on shares of Global Payments from $125.00 to $145.00 in a research note on Monday, February 13th. Finally, Susquehanna dropped their price objective on shares of Global Payments from $240.00 to $210.00 and set a “positive” rating for the company in a research note on Tuesday, November 1st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $149.12.

Insider Buying and Selling at Global Payments

In other news, Director Robert H. B. Baldwin, Jr. purchased 3,400 shares of the business’s stock in a transaction dated Monday, December 12th. The shares were acquired at an average price of $98.62 per share, with a total value of $335,308.00. Following the completion of the purchase, the director now directly owns 38,940 shares of the company’s stock, valued at approximately $3,840,262.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.19% of the company’s stock.

Global Payments Profile

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Global Payments, Inc engages in the provision of payment technology and software solutions. It operates through the following segments: Merchant Solutions, Issuer Solutions and Business & Consumer Solutions. The Merchant Solutions segment provides payments technology and software solutions to customers globally.