Charles Schwab Investment Management Inc. Purchases 9,755 Shares of Global Payments Inc. (NYSE:GPN)

Charles Schwab Investment Management Inc. increased its holdings in Global Payments Inc. (NYSE:GPN - Free Report) by 0.6% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 1,624,288 shares of the business services provider's stock after buying an additional 9,755 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.66% of Global Payments worth $159,050,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Banco Bilbao Vizcaya Argentaria S.A. grew its stake in shares of Global Payments by 0.4% in the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 33,902 shares of the business services provider's stock worth $3,795,000 after acquiring an additional 122 shares during the period. Perigon Wealth Management LLC boosted its holdings in Global Payments by 3.8% in the first quarter. Perigon Wealth Management LLC now owns 3,932 shares of the business services provider's stock worth $385,000 after purchasing an additional 144 shares during the last quarter. Transcend Capital Advisors LLC boosted its holdings in Global Payments by 7.9% in the first quarter. Transcend Capital Advisors LLC now owns 2,135 shares of the business services provider's stock worth $209,000 after purchasing an additional 157 shares during the last quarter. Pinnacle Associates Ltd. grew its position in Global Payments by 4.1% in the 1st quarter. Pinnacle Associates Ltd. now owns 4,342 shares of the business services provider's stock worth $425,000 after purchasing an additional 171 shares during the period. Finally, Vident Advisory LLC raised its stake in Global Payments by 1.7% during the 4th quarter. Vident Advisory LLC now owns 10,382 shares of the business services provider's stock valued at $1,163,000 after buying an additional 172 shares during the last quarter. 89.76% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on GPN shares. Jefferies Financial Group downgraded Global Payments from a "buy" rating to a "hold" rating and set a $75.00 price target on the stock. in a research note on Friday, April 18th. Cowen cut Global Payments from a "buy" rating to a "hold" rating in a research report on Monday, April 21st. Williams Trading set a $75.00 price target on Global Payments in a research note on Friday, April 18th. Truist Financial increased their price objective on shares of Global Payments from $79.00 to $83.00 and gave the stock a "hold" rating in a research note on Thursday, July 17th. Finally, Royal Bank Of Canada reissued a "sector perform" rating and issued a $93.00 price objective (up previously from $86.00) on shares of Global Payments in a report on Thursday, August 7th. One investment analyst has rated the stock with a sell rating, eighteen have issued a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $112.21.

Insider Activity at Global Payments

In related news, General Counsel Dara L. Steele-Belkin sold 2,000 shares of Global Payments stock in a transaction dated 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 owned 30,713 shares in the company, valued at approximately $2,641,318. This trade represents a 6.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.01% of the stock is owned by insiders.

Global Payments Price Performance

GPN stock traded up $1.46 during midday trading on Tuesday, hitting $82.29. The company's stock had a trading volume of 2,695,182 shares, compared to its average volume of 2,674,437. 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 company has a 50 day moving average of $80.05 and a two-hundred day moving average of $87.27. Global Payments Inc. has a 12 month low of $65.93 and a 12 month high of $120.00. The firm has a market capitalization of $19.96 billion, a price-to-earnings ratio of 14.39, a price-to-earnings-growth ratio of 0.78 and a beta of 0.93.

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, beating 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 firm had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same quarter last year, the business posted $2.93 earnings per share. The business's quarterly revenue was up 1.6% compared to the same quarter last year. On average, analysts expect that Global Payments Inc. will post 11.89 EPS for the current year.

Global Payments Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, September 12th. Global Payments's dividend payout ratio (DPR) is presently 17.48%.

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.