103,489 Shares in Global Payments Inc. $GPN Purchased by Caisse DE Depot ET Placement DU Quebec

Key Points

• Caisse DE Depot ET Placement DU Quebec acquired a new stake in Global Payments Inc., buying 103,489 shares valued at approximately $10.13 million in the first quarter.
• Global Payments reported a quarterly earnings per share of $3.10, beating analysts' expectations, with revenue of $2.36 billion for the same period.
• The company announced a quarterly dividend of $0.25, representing an annual yield of 1.1%, with the dividend payout ratio at 17.48%.

Caisse DE Depot ET Placement DU Quebec purchased a new position in Global Payments Inc. (NYSE:GPN - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 103,489 shares of the business services provider's stock, valued at approximately $10,134,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Optiver Holding B.V. acquired a new position in shares of Global Payments in the 4th quarter worth approximately $28,000. NBC Securities Inc. acquired a new position in shares of Global Payments in the 1st quarter worth approximately $30,000. True Wealth Design LLC acquired a new position in shares of Global Payments in the 4th quarter worth approximately $40,000. Larson Financial Group LLC lifted its position in shares of Global Payments by 546.6% in the 1st 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. Finally, Zions Bancorporation National Association UT acquired a new position in shares of Global Payments in the 1st quarter worth approximately $37,000. Institutional investors and hedge funds own 89.76% of the company's stock.

Analyst Upgrades and Downgrades

GPN has been the topic of a number of research reports. Evercore ISI boosted their target price 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. Royal Bank Of Canada boosted their target price on shares of Global Payments from $86.00 to $93.00 and gave the company a "sector perform" rating in a research report on Thursday, August 7th. Mizuho upgraded shares of Global Payments from a "neutral" rating to an "outperform" rating and boosted their target price for the company from $86.00 to $114.00 in a research report on Friday, July 25th. JPMorgan Chase & Co. raised their price objective on Global Payments from $85.00 to $95.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Finally, Truist Financial raised their price objective on Global Payments from $79.00 to $83.00 and gave the company a "hold" rating in a research note on Thursday, July 17th. Ten research analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Global Payments currently has a consensus rating of "Hold" and a consensus price target of $112.21.

Global Payments Stock Up 0.7%

Shares of GPN traded up $0.66 on Monday, reaching $88.88. The company's stock had a trading volume of 1,818,326 shares, compared to its average volume of 2,606,411. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. Global Payments Inc. has a twelve month low of $65.93 and a twelve month high of $120.00. The stock has a market capitalization of $21.56 billion, a PE ratio of 15.54, a PEG ratio of 0.85 and a beta of 0.96. The firm has a fifty day moving average of $82.73 and a 200-day moving average of $85.06.

Global Payments (NYSE:GPN - Get Free Report) last posted 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. Global Payments had a net margin of 15.07% and a return on equity of 12.47%. The company had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same quarter in the prior year, the business posted $2.93 EPS. The firm's revenue was up 1.6% compared to the same quarter last year. Equities analysts predict that Global Payments Inc. will post 11.89 EPS for the current year.

Global Payments Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, September 12th. This represents a $1.00 annualized dividend and a dividend yield of 1.1%. Global Payments's dividend payout ratio is currently 17.48%.

Insider Activity

In other news, General Counsel Dara L. Steele-Belkin sold 2,000 shares of the company's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $86.00, for a total value 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 represents a 6.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.01% of the stock is currently owned by corporate insiders.

Global Payments Company 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.