Fifth Third Bancorp Increases Stock Holdings in Global Payments Inc. (NYSE:GPN)

Posted by Defense World Staff on Apr 8th, 2023

Fifth Third Bancorp increased its holdings in Global Payments Inc. (NYSE:GPN – Get Rating) by 3.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,055 shares of the business services provider’s stock after purchasing an additional 484 shares during the period. Fifth Third Bancorp’s holdings in Global Payments were worth $1,495,000 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. American Century Companies Inc. lifted its stake in shares of Global Payments by 10.3% in the first quarter. American Century Companies Inc. now owns 6,136 shares of the business services provider’s stock worth $840,000 after acquiring an additional 572 shares in the last quarter. Private Advisor Group LLC lifted its position in shares of 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 acquiring an additional 281 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Global Payments by 3.9% during 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 acquiring an additional 48,605 shares during the last quarter. Vontobel Holding Ltd. raised its stake in Global Payments by 259.7% during the 1st quarter. Vontobel Holding Ltd. now owns 17,285 shares of the business services provider’s stock valued at $2,377,000 after purchasing an additional 12,479 shares during the period. Finally, Prudential PLC acquired a new stake in Global Payments during the 1st quarter valued at $766,000. Institutional investors and hedge funds own 87.58% of the company’s stock.

Analyst Ratings Changes

GPN has been the subject of a number of recent analyst reports. BMO Capital Markets decreased their price target on shares of Global Payments from $220.00 to $208.00 and set an “outperform” rating for the company in a report on Monday, February 13th. Barclays began coverage on shares of Global Payments in a research report on Thursday, March 30th. They set an “overweight” rating for the company. Wolfe Research dropped their target price on shares of Global Payments from $150.00 to $145.00 in a research report on Thursday, January 5th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Global Payments from $188.00 to $155.00 in a report on Tuesday, December 20th. Finally, UBS Group reduced their target price on shares of Global Payments from $160.00 to $157.00 and set a “buy” rating for the company in a research note on Thursday, December 15th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $149.31.

Insiders Place Their Bets

In other news, CAO David M. Sheffield sold 1,562 shares of the business’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $113.08, for a total transaction of $176,630.96. Following the sale, the chief accounting officer now directly owns 28,032 shares of the company’s stock, valued at $3,169,858.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.30% of the company’s stock.

Global Payments Trading Up 1.1 %

Shares of GPN stock opened at $105.10 on Friday. Global Payments Inc. has a 52-week low of $92.27 and a 52-week high of $146.71. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a market capitalization of $27.72 billion, a PE ratio of 238.87, a PEG ratio of 0.67 and a beta of 0.99. The stock has a fifty day simple moving average of $108.20 and a two-hundred day simple moving average of $106.63.

Global Payments (NYSE:GPN – Get Rating) last released its quarterly earnings results on Friday, February 10th. The business services provider reported $2.42 EPS for the quarter, topping the consensus estimate of $2.34 by $0.08. The company had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.02 billion. Global Payments had a return on equity of 10.30% and a net margin of 1.24%. The firm’s revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the business posted $2.03 earnings per share. On average, analysts predict that Global Payments Inc. will post 9.85 EPS for the current fiscal year.

Global Payments Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 31st. Investors of record on Friday, March 17th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date was Thursday, March 16th. Global Payments’s dividend payout ratio (DPR) is 227.28%.

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.