Aberdeen Group plc Acquires 92,842 Shares of Global Payments Inc. $GPN

Key Points

• Aberdeen Group plc increased its stake in Global Payments Inc. by 106.8%, acquiring 92,842 additional shares and bringing its total ownership to 179,760 shares, valued at approximately $17.4 million.
• Analysts have generally maintained a bullish outlook on Global Payments, with price targets raised by firms such as KeyCorp and Royal Bank of Canada, suggesting a positive sentiment towards the stock.
• Global Payments recently reported quarterly earnings of $3.10 per share, surpassing analysts' expectations, and also declared a quarterly dividend of $0.25, representing an annual yield of 1.2%.

Aberdeen Group plc raised its stake in Global Payments Inc. (NYSE:GPN - Free Report) by 106.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 179,760 shares of the business services provider's stock after purchasing an additional 92,842 shares during the period. Aberdeen Group plc owned 0.07% of Global Payments worth $17,392,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of GPN. Optiver Holding B.V. bought a new position in Global Payments in the 4th quarter valued at about $28,000. NBC Securities Inc. bought a new position in shares of Global Payments during the first quarter worth approximately $30,000. Larson Financial Group LLC increased its stake in shares of Global Payments by 546.6% during the first quarter. Larson Financial Group LLC now owns 375 shares of the business services provider's stock worth $37,000 after purchasing an additional 317 shares during the period. Zions Bancorporation National Association UT bought a new stake in Global Payments in the 1st quarter valued at $37,000. Finally, True Wealth Design LLC acquired a new position in Global Payments in the 4th quarter valued at $40,000. Institutional investors and hedge funds own 89.76% of the company's stock.

Insider Buying and Selling

In related news, General Counsel Dara L. Steele-Belkin sold 2,000 shares of the firm's stock in a transaction on Thursday, August 7th. The stock was 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 $2,641,318. This trade represents a 6.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.01% of the stock is currently owned by corporate insiders.

Global Payments Price Performance

Shares of NYSE:GPN traded up $4.2310 during trading on Friday, hitting $89.9510. 2,329,190 shares of the company were exchanged, compared to its average volume of 2,806,029. Global Payments Inc. has a 1-year low of $65.93 and a 1-year high of $120.00. The company has a market capitalization of $21.82 billion, a P/E ratio of 15.73, a price-to-earnings-growth ratio of 0.82 and a beta of 0.93. 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 business's 50 day moving average is $81.20 and its 200-day moving average is $86.23.

Global Payments (NYSE:GPN - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The business services provider reported $3.10 earnings per share for the quarter, topping analysts' consensus estimates of $3.06 by $0.04. Global Payments had a return on equity of 12.47% and a net margin of 15.07%.The business had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same quarter in the previous year, the company posted $2.93 EPS. Global Payments's quarterly revenue was up 1.6% compared to the same quarter last year. Equities analysts forecast that Global Payments Inc. will post 11.89 earnings per share for the current year.

Global Payments Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Friday, September 12th. Global Payments's dividend payout ratio (DPR) is 17.48%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Royal Bank Of Canada lifted their target price on Global Payments from $86.00 to $93.00 and gave the stock a "sector perform" rating in a report on Thursday, August 7th. TD Cowen raised shares of Global Payments from a "hold" rating to a "buy" rating and set a $84.00 price target on the stock in a research report on Monday, July 14th. KeyCorp reiterated an "overweight" rating and issued a $100.00 price objective (up previously from $90.00) on shares of Global Payments in a research note on Thursday, August 7th. Keefe, Bruyette & Woods increased their target price on shares of Global Payments from $81.00 to $85.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 9th. Finally, UBS Group raised their target price on shares of Global Payments from $85.00 to $93.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Eleven research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $112.21.

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.