Mutual of America Capital Management LLC Lowers Holdings in Global Payments Inc. (NYSE:GPN)

Posted by Defense World Staff on Aug 5th, 2023

Mutual of America Capital Management LLC trimmed its holdings in Global Payments Inc. (NYSE:GPN – Free Report) by 2.5% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 37,675 shares of the business services provider’s stock after selling 973 shares during the period. Mutual of America Capital Management LLC’s holdings in Global Payments were worth $3,965,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. James Investment Research Inc. acquired a new position in Global Payments during the fourth quarter worth $26,000. Clear Street Markets LLC acquired a new position in Global Payments during the fourth quarter worth $27,000. Venturi Wealth Management LLC acquired a new stake in shares of Global Payments in the first quarter valued at $29,000. MV Capital Management Inc. raised its stake in shares of Global Payments by 166.7% in the first quarter. MV Capital Management Inc. now owns 296 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 185 shares in the last quarter. Finally, Vigilant Capital Management LLC acquired a new stake in shares of Global Payments in the first quarter valued at $34,000. 85.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GPN has been the topic of several analyst reports. Oppenheimer reiterated an “outperform” rating and issued a $122.00 price objective on shares of Global Payments in a research note on Monday, July 24th. Robert W. Baird upgraded Global Payments from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $130.00 to $156.00 in a research note on Wednesday, April 19th. Morgan Stanley raised their price target on Global Payments from $144.00 to $146.00 and gave the company an “overweight” rating in a research note on Wednesday. Susquehanna dropped their price objective on Global Payments from $190.00 to $180.00 in a report on Monday, June 5th. Finally, Evercore ISI began coverage on Global Payments in a report on Friday, May 5th. They set a $116.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, Global Payments presently has a consensus rating of “Moderate Buy” and a consensus price target of $145.52.

Global Payments Trading Up 0.8 %

Shares of Global Payments stock opened at $122.65 on Friday. 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 Inc. has a 1 year low of $92.27 and a 1 year high of $136.88. The company has a market capitalization of $31.89 billion, a P/E ratio of 40.88, a P/E/G ratio of 0.80 and a beta of 1.00. The business has a 50 day moving average price of $105.33 and a 200 day moving average price of $106.60.

Global Payments (NYSE:GPN – Get Free Report) last issued its quarterly earnings data on Tuesday, August 1st. The business services provider reported $2.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.43 by $0.19. Global Payments had a return on equity of 10.95% and a net margin of 8.65%. The firm had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.19 billion. During the same period in the previous year, the firm posted $2.23 EPS. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. Sell-side analysts anticipate that Global Payments Inc. will post 9.61 EPS for the current fiscal year.

Global Payments Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, September 14th. This represents a $1.00 annualized dividend and a dividend yield of 0.82%. Global Payments’s dividend payout ratio is currently 33.33%.

Insider Buying and Selling

In other Global Payments news, CAO David M. Sheffield sold 2,016 shares of Global Payments stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $119.47, for a total value of $240,851.52. Following the completion of the sale, the chief accounting officer now directly owns 25,045 shares of the company’s stock, valued at approximately $2,992,126.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.30% of the company’s stock.

About Global Payments

(Free Report)

Global Payments Inc provides payment technology and software solutions for card, check, and digital-based payments in the Americas, Europe, and the Asia-Pacific. It operates through three segments: Merchant Solutions, Issuer Solutions, and Consumer Solutions. The Merchant Solutions segment offers authorization, settlement and funding, customer support, chargeback resolution, terminal rental, sales and deployment, payment security, and consolidated billing and reporting services.