Global Payments Inc. $GPN Stock Holdings Lowered by Cramer Rosenthal Mcglynn LLC

Key Points

• Cramer Rosenthal Mcglynn LLC reduced its stake in Global Payments Inc. by 3.3%, selling 9,082 shares and holding 267,430 shares, which represents 1.9% of their investment portfolio.
• Analysts have recently shown a mixed outlook, with some firms raising their price targets for Global Payments while others, like TD Cowen, downgraded their rating from "strong-buy" to "hold."
• The company also declared a quarterly dividend of $0.25 per share, with the dividend yield at 1.1%, set to be paid to stockholders on September 26th.

Cramer Rosenthal Mcglynn LLC reduced its holdings in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 3.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 267,430 shares of the business services provider's stock after selling 9,082 shares during the quarter. Global Payments makes up 1.9% of Cramer Rosenthal Mcglynn LLC's investment portfolio, making the stock its 15th largest position. Cramer Rosenthal Mcglynn LLC owned approximately 0.11% of Global Payments worth $26,187,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Perigon Wealth Management LLC grew its holdings in shares of Global Payments by 3.8% during the first quarter. Perigon Wealth Management LLC now owns 3,932 shares of the business services provider's stock worth $385,000 after buying an additional 144 shares in the last quarter. Transcend Capital Advisors LLC grew its holdings in shares of Global Payments by 7.9% during the first quarter. Transcend Capital Advisors LLC now owns 2,135 shares of the business services provider's stock worth $209,000 after buying an additional 157 shares in the last quarter. Pinnacle Associates Ltd. grew its holdings in shares of Global Payments by 4.1% during the first quarter. Pinnacle Associates Ltd. now owns 4,342 shares of the business services provider's stock worth $425,000 after buying an additional 171 shares in the last quarter. Vident Advisory LLC grew its holdings in shares of Global Payments by 1.7% during the fourth quarter. Vident Advisory LLC now owns 10,382 shares of the business services provider's stock worth $1,163,000 after buying an additional 172 shares in the last quarter. Finally, WESCAP Management Group Inc. grew its holdings in shares of Global Payments by 2.5% during the first quarter. WESCAP Management Group Inc. now owns 7,102 shares of the business services provider's stock worth $695,000 after buying an additional 176 shares in the last quarter. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

Global Payments Trading Up 0.7%

GPN stock traded up $0.66 during midday trading on Friday, reaching $88.88. 1,818,279 shares of the company's stock traded hands, compared to its average volume of 2,774,104. The business has a 50-day moving average price of $82.48 and a two-hundred day moving average price of $85.48. Global Payments Inc. has a fifty-two week low of $65.93 and a fifty-two week high of $120.00. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market capitalization of $21.56 billion, a P/E ratio of 15.54, a PEG ratio of 0.84 and a beta of 0.93.

Global Payments (NYSE:GPN - Get Free Report) last posted its earnings results on Wednesday, August 6th. The business services provider reported $3.10 EPS 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 business had revenue of $2.36 billion for the quarter, compared to analysts' expectations of $2.36 billion. During the same period in the previous year, the company posted $2.93 earnings per share. The business's revenue for the quarter was up 1.6% compared to the same quarter last year. Equities research analysts forecast that Global Payments Inc. will post 11.89 EPS for the current fiscal year.

Global Payments Dividend Announcement

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

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 sale, the general counsel owned 30,713 shares in the company, valued at $2,641,318. The trade was a 6.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.01% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on GPN. JPMorgan Chase & Co. lifted their price target on shares of Global Payments from $85.00 to $95.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. KeyCorp reiterated an "overweight" rating and set a $100.00 price target (up from $90.00) on shares of Global Payments in a report on Thursday, August 7th. Truist Financial boosted their target price 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. 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 report on Friday, July 25th. Finally, 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 report on Friday, August 8th. Ten investment analysts have rated the stock with a Buy rating, nineteen have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Global Payments currently has an average rating of "Hold" and a consensus 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.