Global Payments Inc. $GPN Shares Acquired by Callodine Capital Management LP

Key Points

• Callodine Capital Management LP increased its stake in Global Payments Inc. by 71.7%, acquiring 107,500 additional shares and making this stock its 8th largest position.
• Global Payments recently reported earnings of $3.10 EPS, exceeding estimates, along with a quarterly revenue of $2.36 billion, which matches analysts' expectations.
• The company declared a $0.25 quarterly dividend with an annualized yield of 1.1%, set to be paid on September 26th.

Callodine Capital Management LP raised its stake in Global Payments Inc. (NYSE:GPN - Free Report) by 71.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 257,500 shares of the business services provider's stock after buying an additional 107,500 shares during the quarter. Global Payments comprises about 4.2% of Callodine Capital Management LP's portfolio, making the stock its 8th biggest holding. Callodine Capital Management LP owned about 0.11% of Global Payments worth $25,214,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Optiver Holding B.V. acquired a new position in Global Payments in the fourth quarter valued at about $28,000. NBC Securities Inc. acquired a new position in Global Payments in the first quarter valued at about $30,000. Larson Financial Group LLC lifted its position in Global Payments by 546.6% in the first quarter. Larson Financial Group LLC now owns 375 shares of the business services provider's stock valued at $37,000 after buying an additional 317 shares during the last quarter. Zions Bancorporation National Association UT acquired a new position in Global Payments in the first quarter valued at about $37,000. Finally, True Wealth Design LLC acquired a new position in Global Payments in the fourth quarter valued at about $40,000. Institutional investors and hedge funds own 89.76% of the company's stock.

Global Payments Stock Up 0.7%

Shares of NYSE:GPN traded up $0.66 on Friday, hitting $88.88. 1,818,326 shares of the company's stock were exchanged, compared to its average volume of 2,620,473. The firm's 50-day moving average is $82.73 and its 200 day moving average is $85.19. The company has a market capitalization of $21.56 billion, a PE ratio of 15.54, a P/E/G ratio of 0.85 and a beta of 0.93. Global Payments Inc. has a 1-year low of $65.93 and a 1-year high of $120.00. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95.

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

Global Payments Dividend Announcement

The firm also recently declared 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 of this dividend is Friday, September 12th. Global Payments's dividend payout ratio is 17.48%.

Insider Transactions at Global Payments

In related 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.01% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

GPN has been the topic of a number of recent analyst reports. KeyCorp reaffirmed an "overweight" rating and issued a $100.00 target price (up previously from $90.00) on shares of Global Payments in a research report on Thursday, August 7th. TD Cowen downgraded Global Payments from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 21st. Mizuho raised Global Payments from a "neutral" rating to an "outperform" rating and lifted their target price for the company from $86.00 to $114.00 in a research report on Friday, July 25th. JPMorgan Chase & Co. lifted their target price on Global Payments from $85.00 to $95.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Finally, Royal Bank Of Canada lifted their target price on Global Payments from $86.00 to $93.00 and gave the company a "sector perform" rating in a research report on Thursday, August 7th. Ten research analysts have rated the stock with a Buy rating, nineteen have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Global Payments has an average rating of "Hold" and an average target price of $112.21.

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.