International Assets Investment Management LLC Acquires Shares of 52,826 Global Payments Inc. (NYSE:GPN)

Posted by on Apr 12th, 2023

International Assets Investment Management LLC acquired a new stake in shares of Global Payments Inc. (NYSE:GPN – Get Rating) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 52,826 shares of the business services provider’s stock, valued at approximately $811,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fifth Third Bancorp raised its position in shares of Global Payments by 3.3% during the 4th quarter. Fifth Third Bancorp now owns 15,055 shares of the business services provider’s stock worth $1,495,000 after purchasing an additional 484 shares during the period. Xponance Inc. raised its position in shares of Global Payments by 19.1% during the 4th quarter. Xponance Inc. now owns 32,485 shares of the business services provider’s stock worth $3,226,000 after purchasing an additional 5,210 shares during the period. Royal Bank of Canada raised its position in shares of Global Payments by 93.8% during the 3rd quarter. Royal Bank of Canada now owns 1,061,953 shares of the business services provider’s stock worth $114,743,000 after purchasing an additional 514,006 shares during the period. South Dakota Investment Council bought a new position in Global Payments in the 3rd quarter worth approximately $486,000. Finally, General Partner Inc. bought a new position in Global Payments in the 4th quarter worth approximately $42,000. Institutional investors and hedge funds own 87.58% of the company’s stock.

Global Payments Price Performance

Shares of NYSE:GPN opened at $105.86 on Wednesday. Global Payments Inc. has a one year low of $92.27 and a one year high of $146.71. The stock has a fifty day moving average of $107.95 and a 200-day moving average of $106.26. The company has a market capitalization of $27.92 billion, a PE ratio of 240.60, a price-to-earnings-growth ratio of 0.68 and a beta of 0.99. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.92 and a current ratio of 0.92.

Global Payments (NYSE:GPN – Get Rating) last announced its quarterly earnings data on Friday, February 10th. The business services provider reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $2.34 by $0.08. Global Payments had a return on equity of 10.30% and a net margin of 1.24%. The company had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same quarter in the prior year, the firm earned $2.03 EPS. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. As a group, equities analysts anticipate that Global Payments Inc. will post 9.85 EPS for the current fiscal year.

Global Payments Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 31st. Stockholders of record on Friday, March 17th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, March 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.94%. Global Payments’s payout ratio is currently 227.28%.

Insider Activity

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

Analyst Ratings Changes

A number of equities analysts recently issued reports on GPN shares. StockNews.com started coverage on Global Payments in a report on Thursday, March 16th. They issued a “hold” rating for the company. Wolfe Research decreased their price objective on Global Payments from $150.00 to $145.00 in a report on Thursday, January 5th. Morgan Stanley increased their price objective on Global Payments from $135.00 to $144.00 and gave the stock an “overweight” rating in a report on Monday, February 13th. KeyCorp decreased their price objective on Global Payments from $140.00 to $115.00 and set an “overweight” rating for the company in a report on Monday, January 9th. Finally, BNP Paribas lowered Global Payments from a “neutral” rating to an “underperform” rating in a report on Tuesday, January 3rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $149.31.

About Global Payments

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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.

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Institutional Ownership by Quarter for Global Payments (NYSE:GPN)

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