AG2R LA Mondiale Gestion D Actifs Purchases New Shares in Global Payments Inc. $GPN

Key Points

• AG2R LA Mondiale Gestion D Actifs acquired 11,729 shares of Global Payments Inc. for approximately $1,149,000, indicating increasing institutional interest in the company.
• Global Payments reported earnings of $3.10 per share for the recent quarter, exceeding expectations and showing a 1.6% year-over-year revenue increase.
• The company declared a quarterly dividend of $0.25 per share, reflecting a 1.2% yield and a payout ratio of 17.48%.

AG2R LA Mondiale Gestion D Actifs purchased a new stake in shares of Global Payments Inc. (NYSE:GPN - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 11,729 shares of the business services provider's stock, valued at approximately $1,149,000.

Other hedge funds also recently bought and sold shares of the company. NBC Securities Inc. purchased a new stake in Global Payments during the first quarter valued at $30,000. Larson Financial Group LLC raised its stake in Global Payments by 546.6% during the first quarter. Larson Financial Group LLC now owns 375 shares of the business services provider's stock valued at $37,000 after purchasing an additional 317 shares in the last quarter. Zions Bancorporation National Association UT purchased a new stake in Global Payments during the first quarter valued at $37,000. Quarry LP purchased a new stake in Global Payments during the first quarter valued at $42,000. Finally, Golden State Wealth Management LLC increased its position in Global Payments by 4,866.7% during the first quarter. Golden State Wealth Management LLC now owns 447 shares of the business services provider's stock valued at $44,000 after acquiring an additional 438 shares during the last quarter. Hedge funds and other institutional investors own 89.76% of the company's stock.

Global Payments Stock Performance

Shares of Global Payments stock traded up $0.85 during midday trading on Friday, hitting $86.92. The company had a trading volume of 618,527 shares, compared to its average volume of 2,728,747. The stock has a market cap of $21.09 billion, a price-to-earnings ratio of 15.19, a PEG ratio of 0.81 and a beta of 0.97. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. The company has a fifty day simple moving average of $84.50 and a 200 day simple moving average of $83.58. Global Payments Inc. has a 12-month low of $65.93 and a 12-month high of $120.00.

Global Payments (NYSE:GPN - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The business services provider reported $3.10 EPS for the quarter, beating the consensus estimate of $3.06 by $0.04. The firm had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.36 billion. Global Payments had a net margin of 15.07% and a return on equity of 12.47%. Global Payments's revenue was up 1.6% on a year-over-year basis. During the same period last year, the firm posted $2.93 EPS. As a group, analysts predict that Global Payments Inc. will post 11.89 earnings per share for the current fiscal year.

Global Payments Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, September 12th. This represents a $1.00 dividend on an annualized basis and a yield of 1.2%. Global Payments's dividend payout ratio (DPR) is currently 17.48%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on GPN shares. Evercore ISI boosted their price objective on shares of Global Payments from $85.00 to $90.00 and gave the company an "in-line" rating in a research report on Friday, August 8th. UBS Group boosted their price objective on shares of Global Payments from $85.00 to $93.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Truist Financial boosted their price objective on shares of Global Payments from $79.00 to $83.00 and gave the company a "hold" rating in a research report on Thursday, July 17th. Keefe, Bruyette & Woods boosted their price objective on shares of Global Payments from $81.00 to $85.00 and gave the company a "market perform" rating in a research report on Wednesday, July 9th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Global Payments from $85.00 to $95.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Nine analysts have rated the stock with a Buy rating and nineteen have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $110.70.

Insider Transactions at Global Payments

In other Global Payments news, General Counsel Dara L. Steele-Belkin sold 2,000 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $86.00, for a total transaction of $172,000.00. Following the completion of the transaction, the general counsel directly owned 30,713 shares of the company's stock, valued at approximately $2,641,318. This trade represents a 6.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.01% of the company's stock.

About Global Payments

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 two segments, Merchant Solutions and Issuer 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.