Boston Partners Sells 4,780 Shares of Global Payments Inc. $GPN

Key Points

• Boston Partners has reduced its stake in Global Payments Inc. by 0.6% during the 1st quarter, holding approximately 0.31% of the company despite selling 4,780 shares.
• Global Payments reported quarterly earnings of $3.10 EPS, exceeding analysts' expectations and showing a 1.6% year-over-year revenue growth.
• The company announced a quarterly dividend of $0.25 per share, representing a dividend yield of 1.1%, with the ex-dividend date set for September 12th.

Boston Partners trimmed its position in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 0.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 747,573 shares of the business services provider's stock after selling 4,780 shares during the period. Boston Partners owned 0.31% of Global Payments worth $73,075,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Optiver Holding B.V. purchased a new position in shares of Global Payments during the 4th quarter valued at $28,000. NBC Securities Inc. purchased a new position in shares of Global Payments during the 1st quarter valued at $30,000. Larson Financial Group LLC grew its holdings in shares of Global Payments by 546.6% during the 1st quarter. Larson Financial Group LLC now owns 375 shares of the business services provider's stock valued at $37,000 after acquiring an additional 317 shares in the last quarter. Zions Bancorporation National Association UT purchased a new position in shares of Global Payments during the 1st quarter valued at $37,000. Finally, True Wealth Design LLC purchased a new position in shares of Global Payments during the 4th quarter valued at $40,000. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GPN has been the topic of several research analyst reports. UBS Group boosted their price target on shares of Global Payments from $85.00 to $93.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Mizuho upgraded shares of Global Payments from a "neutral" rating to an "outperform" rating and boosted their price target for the company from $86.00 to $114.00 in a report on Friday, July 25th. Truist Financial boosted their price target on shares of Global Payments from $79.00 to $83.00 and gave the company a "hold" rating in a report on Thursday, July 17th. Keefe, Bruyette & Woods boosted their price target on shares of Global Payments from $81.00 to $85.00 and gave the company a "market perform" rating in a report on Wednesday, July 9th. Finally, KeyCorp reaffirmed 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. Eleven equities research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $112.21.

Insiders Place Their Bets

In other Global Payments news, General Counsel Dara L. Steele-Belkin sold 2,000 shares of the business's stock in a transaction 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 owned 30,713 shares of the company's stock, valued at $2,641,318. The trade was a 6.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.01% of the stock is currently owned by corporate insiders.

Global Payments Stock Down 0.9%

Shares of GPN stock traded down $0.81 on Wednesday, hitting $85.81. The company's stock had a trading volume of 2,186,881 shares, compared to its average volume of 2,666,648. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. Global Payments Inc. has a fifty-two week low of $65.93 and a fifty-two week high of $120.00. The firm's fifty day moving average price is $81.05 and its 200-day moving average price is $86.40. The stock has a market capitalization of $20.82 billion, a price-to-earnings ratio of 15.00, a P/E/G ratio of 0.83 and a beta of 0.93.

Global Payments (NYSE:GPN - Get Free Report) last released its earnings results 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. 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%. The business's revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.93 EPS. Research analysts anticipate that Global Payments Inc. will post 11.89 EPS for the current year.

Global Payments Dividend Announcement

The company also recently announced 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 payout ratio is currently 17.48%.

Global Payments Profile

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.