California State Teachers Retirement System Boosts Position in Global Payments Inc. $GPN

California State Teachers Retirement System boosted its stake in Global Payments Inc. (NYSE:GPN - Free Report) by 5,860.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,828,269 shares of the business services provider's stock after purchasing an additional 23,428,503 shares during the period. California State Teachers Retirement System owned approximately 9.00% of Global Payments worth $1,728,979,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC acquired a new stake in shares of Global Payments during the fourth quarter worth approximately $725,000. Caxton Associates LLP bought a new position in Global Payments during the 1st quarter worth approximately $243,000. Intech Investment Management LLC lifted its holdings in Global Payments by 43.5% during the 1st quarter. Intech Investment Management LLC now owns 14,462 shares of the business services provider's stock worth $1,416,000 after buying an additional 4,386 shares during the last quarter. Daiwa Securities Group Inc. grew its position in shares of Global Payments by 7.3% in the 2nd quarter. Daiwa Securities Group Inc. now owns 41,577 shares of the business services provider's stock worth $3,327,000 after acquiring an additional 2,840 shares in the last quarter. Finally, AXA S.A. grew its position in shares of Global Payments by 236.6% in the 2nd quarter. AXA S.A. now owns 28,622 shares of the business services provider's stock worth $2,291,000 after acquiring an additional 20,119 shares in the last quarter. 89.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on GPN. BMO Capital Markets reissued a "market perform" rating and set a $83.00 price target on shares of Global Payments in a research report on Thursday, August 6th. Wall Street Zen lowered shares of Global Payments from a "buy" rating to a "hold" rating in a report on Saturday, May 30th. Citigroup reiterated a "buy" rating on shares of Global Payments in a research note on Thursday, August 6th. Barclays set a $89.00 target price on shares of Global Payments and gave the stock an "equal weight" rating in a report on Thursday, August 6th. Finally, Piper Sandler set a $101.00 target price on Global Payments and gave the company a "neutral" rating in a research note on Thursday. Nine analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Global Payments presently has an average rating of "Hold" and an average target price of $92.85.

Global Payments Stock Performance

Shares of GPN stock opened at $88.46 on Friday. Global Payments Inc. has a fifty-two week low of $61.16 and a fifty-two week high of $95.88. The stock's 50-day moving average is $86.24 and its two-hundred day moving average is $75.81. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market cap of $23.41 billion, a P/E ratio of -29.68, a PEG ratio of 0.48 and a beta of 0.78.

Global Payments (NYSE:GPN - Get Free Report) last posted its earnings results on Wednesday, August 5th. The business services provider reported $3.46 EPS for the quarter, topping the consensus estimate of $3.44 by $0.02. Global Payments had a negative net margin of 9.16% and a positive return on equity of 13.80%. The company had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.16 billion. During the same period in the previous year, the firm posted $3.10 earnings per share. The company's revenue for the quarter was up 68.6% compared to the same quarter last year. Global Payments has set its FY 2026 guidance at 13.600-13.800 EPS. Analysts predict that Global Payments Inc. will post 13.64 earnings per share for the current fiscal year.

Global Payments Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 11th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a $1.00 dividend on an annualized basis and a yield of 1.1%. Global Payments's dividend payout ratio is -33.56%.

Global Payments Profile

Global Payments Inc NYSE: GPN is a payments technology and software company that provides solutions for businesses, financial institutions and other organizations. Its services support payment acceptance across in-store, online and mobile channels, including credit and debit card processing, point-of-sale systems, payment gateways, integrated software and related business management tools.

The company serves merchants across industries such as retail, restaurants, hospitality, education, health care and professional services.

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