Global Payments Inc. $GPN is Estuary Capital Management LP's 7th Largest Position

Key Points

• Estuary Capital Management LP increased its holdings in Global Payments Inc. by 32.5% in the first quarter, owning 318,433 shares worth approximately $31.18 million.
• Global Payments recently announced a quarterly dividend of $0.25 per share, with an ex-dividend date of September 12th, representing an annualized yield of 1.2%.
• The company reported $3.10 earnings per share in its latest quarterly results, exceeding analyst expectations and reflecting a 1.6% year-over-year revenue growth.

Estuary Capital Management LP increased its stake in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 32.5% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 318,433 shares of the business services provider's stock after purchasing an additional 78,065 shares during the period. Global Payments makes up approximately 7.6% of Estuary Capital Management LP's investment portfolio, making the stock its 7th largest position. Estuary Capital Management LP owned 0.13% of Global Payments worth $31,181,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in GPN. AQR Capital Management LLC raised its holdings in shares of Global Payments by 6.1% in the 1st quarter. AQR Capital Management LLC now owns 1,458,570 shares of the business services provider's stock valued at $140,402,000 after purchasing an additional 84,285 shares in the last quarter. Amundi raised its stake in Global Payments by 77.5% during the 1st quarter. Amundi now owns 2,001,585 shares of the business services provider's stock worth $186,107,000 after acquiring an additional 874,175 shares in the last quarter. Federation des caisses Desjardins du Quebec increased its stake in Global Payments by 11.1% in the first quarter. Federation des caisses Desjardins du Quebec now owns 14,858 shares of the business services provider's stock valued at $1,455,000 after purchasing an additional 1,480 shares during the period. Dark Forest Capital Management LP acquired a new position in Global Payments in the first quarter valued at $4,923,000. Finally, Chiron Capital Management LLC increased its stake in Global Payments by 10.5% in the first quarter. Chiron Capital Management LLC now owns 2,100 shares of the business services provider's stock valued at $206,000 after purchasing an additional 200 shares during the period. Hedge funds and other institutional investors own 89.76% of the company's stock.

Insider Buying and Selling

In other news, General Counsel Dara L. Steele-Belkin sold 2,000 shares of the stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $86.00, for a total value of $172,000.00. Following the completion of the sale, the general counsel 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 Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.01% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Global Payments from $85.00 to $95.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. B. Riley restated a "buy" rating on shares of Global Payments in a research note on Wednesday, July 16th. Royal Bank Of Canada lifted their price objective on shares of Global Payments from $86.00 to $93.00 and gave the company a "sector perform" rating in a research note on Thursday, August 7th. KeyCorp reaffirmed an "overweight" rating and issued a $100.00 target price (up previously from $90.00) on shares of Global Payments in a report on Thursday, August 7th. Finally, Evercore ISI lifted 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 analysts have rated the stock with a Buy rating and nineteen have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $112.21.

Global Payments Trading Down 0.4%

GPN stock traded down $0.35 on Monday, hitting $87.43. 1,782,257 shares of the company were exchanged, compared to its average volume of 2,754,552. Global Payments Inc. has a twelve month low of $65.93 and a twelve month 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 business's fifty day moving average is $83.67 and its two-hundred day moving average is $84.41. The stock has a market capitalization of $21.21 billion, a price-to-earnings ratio of 15.29, a price-to-earnings-growth ratio of 0.84 and a beta of 0.96.

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

Global Payments Announces Dividend

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

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.