Mn Services Vermogensbeheer B.V. Cuts Stock Holdings in Global Payments Inc. (NYSE:GPN)

06 Nov 2024, 05:52 by Scott Moore · The Cerbat Gem

Mn Services Vermogensbeheer B.V. lowered its stake in shares of Global Payments Inc. (NYSE:GPN – Free Report) by 2.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 99,800 shares of the business services provider’s stock after selling 2,500 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Global Payments were worth $10,222,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Pzena Investment Management LLC increased its holdings in Global Payments by 194.2% in the second quarter. Pzena Investment Management LLC now owns 6,423,463 shares of the business services provider’s stock valued at $621,149,000 after buying an additional 4,240,388 shares during the last quarter. Boston Partners grew its holdings in shares of Global Payments by 0.3% during the first quarter. Boston Partners now owns 4,797,677 shares of the business services provider’s stock worth $639,967,000 after purchasing an additional 12,196 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Global Payments by 10.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,957,914 shares of the business services provider’s stock worth $189,307,000 after purchasing an additional 193,137 shares during the last quarter. Davis Asset Management L.P. grew its holdings in shares of Global Payments by 18.2% during the second quarter. Davis Asset Management L.P. now owns 1,300,000 shares of the business services provider’s stock worth $125,710,000 after purchasing an additional 200,000 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of Global Payments by 188.1% during the second quarter. AQR Capital Management LLC now owns 1,157,728 shares of the business services provider’s stock worth $109,857,000 after purchasing an additional 755,898 shares during the last quarter. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Insider Activity

In other Global Payments news, CAO David M. Sheffield sold 1,651 shares of Global Payments stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $100.73, for a total transaction of $166,305.23. Following the completion of the transaction, the chief accounting officer now owns 20,531 shares in the company, valued at approximately $2,068,087.63. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.98% of the stock is currently owned by company insiders.

Global Payments Stock Up 2.1 %

Shares of GPN opened at $107.37 on Wednesday. The stock has a fifty day moving average of $104.45 and a 200-day moving average of $103.75. Global Payments Inc. has a 52 week low of $91.60 and a 52 week high of $141.77. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.93 and a current ratio of 0.93. The stock has a market capitalization of $27.33 billion, a price-to-earnings ratio of 20.22, a PEG ratio of 0.80 and a beta of 0.97.

Global Payments (NYSE:GPN – Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The business services provider reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.90 by $0.03. Global Payments had a return on equity of 11.94% and a net margin of 13.61%. The firm had revenue of $2.57 billion during the quarter, compared to analyst estimates of $2.32 billion. During the same period last year, the company posted $2.48 EPS. The business’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Global Payments Inc. will post 11.05 earnings per share for the current fiscal year.

Global Payments Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.00 annualized dividend and a dividend yield of 0.93%. Global Payments’s dividend payout ratio is presently 18.83%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GPN. William Blair lowered Global Payments from an “outperform” rating to a “market perform” rating in a report on Wednesday, September 25th. B. Riley reduced their price objective on shares of Global Payments from $204.00 to $194.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Monness Crespi & Hardt lowered their target price on shares of Global Payments from $165.00 to $155.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. TD Cowen reduced their target price on shares of Global Payments from $125.00 to $122.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. Finally, BNP Paribas raised shares of Global Payments to a “strong sell” rating in a research report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $136.50.

Get Our Latest Analysis on GPN

Global Payments Company Profile

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