Fox Run Management L.L.C. Takes $614,000 Position in Global Payments Inc. $GPN

Key Points

• Fox Run Management L.L.C. acquired a new stake in Global Payments Inc. by purchasing 6,272 shares, valued at approximately $614,000.
• The company reported $3.10 earnings per share for the last quarter, exceeding the consensus estimate, with revenue showing a 1.6% increase compared to the prior year.
• Global Payments has declared a quarterly dividend of $0.25, which will be paid to shareholders on September 26th, with a yield of 1.2%.

Fox Run Management L.L.C. acquired a new position in Global Payments Inc. (NYSE:GPN - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 6,272 shares of the business services provider's stock, valued at approximately $614,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Optiver Holding B.V. acquired a new stake in shares of Global Payments during the fourth quarter worth about $28,000. NBC Securities Inc. acquired a new position in shares of Global Payments during the first quarter worth about $30,000. Larson Financial Group LLC grew its stake in shares of Global Payments by 546.6% during the first quarter. Larson Financial Group LLC now owns 375 shares of the business services provider's stock worth $37,000 after purchasing an additional 317 shares in the last quarter. Zions Bancorporation National Association UT acquired a new stake in shares of Global Payments during the 1st quarter worth about $37,000. Finally, True Wealth Design LLC acquired a new position in shares of Global Payments in the 4th quarter valued at $40,000. Hedge funds and other institutional investors own 89.76% of the company's stock.

Insiders Place Their Bets

In other news, General Counsel Dara L. Steele-Belkin sold 2,000 shares of the business'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 transaction of $172,000.00. Following the sale, the general counsel directly owned 30,713 shares in the company, valued at approximately $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 SEC, which is accessible through the SEC website. 1.01% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

GPN has been the topic of several research reports. Truist Financial raised their price objective on shares of Global Payments from $79.00 to $83.00 and gave the stock a "hold" rating in a research report on Thursday, July 17th. UBS Group lifted their price objective on Global Payments from $85.00 to $93.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. JPMorgan Chase & Co. increased their target price on Global Payments from $85.00 to $95.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. B. Riley reiterated a "buy" rating on shares of Global Payments in a research report on Wednesday, July 16th. Finally, Keefe, Bruyette & Woods upped their target price on Global Payments from $81.00 to $85.00 and gave the company a "market perform" rating in a research note on Wednesday, July 9th. Eleven research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Global Payments currently has a consensus rating of "Hold" and a consensus target price of $112.21.

Global Payments Price Performance

Global Payments stock traded up $4.3040 during mid-day trading on Friday, hitting $90.0240. The company's stock had a trading volume of 539,819 shares, compared to its average volume of 2,794,676. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. Global Payments Inc. has a twelve month low of $65.93 and a twelve month high of $120.00. The stock has a market capitalization of $21.84 billion, a P/E ratio of 15.68, a P/E/G ratio of 0.82 and a beta of 0.93. The stock's fifty day moving average price is $81.20 and its two-hundred day moving average price is $86.23.

Global Payments (NYSE:GPN - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The business services provider reported $3.10 EPS for the quarter, beating 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 firm had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same period in the previous year, the firm posted $2.93 earnings per share. The firm's revenue was up 1.6% on a year-over-year basis. Research analysts forecast that Global Payments Inc. will post 11.89 earnings per share for the current year.

Global Payments Dividend Announcement

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