Skandinaviska Enskilda Banken AB publ Sells 1,243 Shares of Global Payments Inc. (NYSE:GPN)

Posted by Defense World Staff on May 14th, 2023

Skandinaviska Enskilda Banken AB publ lowered its position in Global Payments Inc. (NYSE:GPN – Get Rating) by 27.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 3,288 shares of the business services provider’s stock after selling 1,243 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Global Payments were worth $327,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of GPN. Echo Street Capital Management LLC boosted its holdings in Global Payments by 79.6% in the 3rd quarter. Echo Street Capital Management LLC now owns 2,676,292 shares of the business services provider’s stock worth $289,173,000 after buying an additional 1,186,038 shares during the period. Nordea Investment Management AB boosted its holdings in Global Payments by 48.0% in the 4th quarter. Nordea Investment Management AB now owns 3,098,234 shares of the business services provider’s stock worth $305,579,000 after buying an additional 1,004,286 shares during the period. Barclays PLC boosted its holdings in Global Payments by 338.8% in the 3rd quarter. Barclays PLC now owns 1,220,722 shares of the business services provider’s stock worth $131,898,000 after buying an additional 942,525 shares during the period. Royal Bank of Canada boosted its holdings 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 valued at $114,743,000 after purchasing an additional 514,006 shares during the last quarter. Finally, Ceredex Value Advisors LLC grew its position in shares of Global Payments by 35.9% during the fourth quarter. Ceredex Value Advisors LLC now owns 1,538,393 shares of the business services provider’s stock valued at $152,793,000 after purchasing an additional 406,714 shares in the last quarter. Institutional investors own 87.58% of the company’s stock.

Global Payments Trading Down 0.9 %

NYSE GPN opened at $102.60 on Friday. The company has a market capitalization of $26.88 billion, a PE ratio of -218.30, a P/E/G ratio of 0.68 and a beta of 1.00. The company has a fifty day moving average of $104.32 and a 200 day moving average of $105.38. Global Payments Inc. has a 1 year low of $92.27 and a 1 year high of $136.88. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.92 and a quick ratio of 0.92.

Global Payments (NYSE:GPN – Get Rating) last posted its earnings results on Monday, May 1st. The business services provider reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.31 by $0.09. The company had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.01 billion. Global Payments had a negative net margin of 1.58% and a positive return on equity of 10.67%. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.97 earnings per share. Research analysts forecast that Global Payments Inc. will post 9.68 earnings per share for the current year.

Global Payments Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 15th will be paid a dividend of $0.25 per share. The ex-dividend date is Wednesday, June 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.97%. Global Payments’s dividend payout ratio is currently -212.77%.

Insider Activity at Global Payments

In other news, CAO David M. Sheffield sold 1,562 shares of the company’s stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $113.08, for a total value of $176,630.96. Following the transaction, the chief accounting officer now directly owns 28,032 shares in the company, valued at approximately $3,169,858.56. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on GPN shares. The Goldman Sachs Group upgraded Global Payments from a “neutral” rating to a “buy” rating and set a $127.00 price objective for the company in a research report on Wednesday, April 12th. KeyCorp increased their price target on shares of Global Payments from $115.00 to $125.00 in a report on Monday, April 24th. Raymond James lowered their price target on shares of Global Payments from $160.00 to $156.00 in a report on Tuesday, May 2nd. BMO Capital Markets decreased their price objective on shares of Global Payments from $220.00 to $208.00 and set an “outperform” rating for the company in a research note on Monday, February 13th. Finally, StockNews.com downgraded shares of Global Payments from a “buy” rating to a “hold” rating in a research note on Friday, May 5th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, Global Payments presently has an average rating of “Moderate Buy” and an average target price of $146.30.

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.

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

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