Fulcrum Asset Management LLP Purchases 47,347 Shares of Global Payments Inc. $GPN

Key Points

• Fulcrum Asset Management increased its Global Payments stake by 1,301.5% in the third quarter, buying 47,347 shares. It held 50,985 shares, valued at about $4.25 million, at quarter-end.
• Global Payments reported quarterly EPS of $3.58, matching analysts’ consensus, and revenue of $3.18 billion, up 36.1% year over year.
• Analysts’ consensus rating was Hold, with an average price target of $98.07. The company also declared a quarterly dividend of $0.25 per share, equivalent to a 1.0% annualized yield.

Fulcrum Asset Management LLP grew its position in Global Payments Inc. (NYSE:GPN - Free Report) by 1,301.5% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 50,985 shares of the business services provider's stock after buying an additional 47,347 shares during the period. Fulcrum Asset Management LLP's holdings in Global Payments were worth $4,249,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Western Wealth Management LLC acquired a new stake in Global Payments in the first quarter worth about $34,000. Nvwm LLC acquired a new position in Global Payments during the 3rd quarter valued at about $41,000. Mather Group LLC. boosted its stake in shares of Global Payments by 25.2% in the 3rd quarter. Mather Group LLC. now owns 622 shares of the business services provider's stock valued at $51,000 after purchasing an additional 125 shares during the last quarter. Fortitude Family Office LLC boosted its stake in shares of Global Payments by 365.7% in the 3rd quarter. Fortitude Family Office LLC now owns 624 shares of the business services provider's stock valued at $51,000 after purchasing an additional 490 shares during the last quarter. Finally, Financial Network Wealth Advisors LLC grew its position in shares of Global Payments by 30.9% during the 3rd quarter. Financial Network Wealth Advisors LLC now owns 674 shares of the business services provider's stock worth $55,000 after buying an additional 159 shares during the period. Institutional investors own 89.76% of the company's stock.

Global Payments Stock Performance

Shares of GPN opened at $97.75 on Tuesday. The firm has a market cap of $25.87 billion, a P/E ratio of 7.47, a PEG ratio of 0.47 and a beta of 0.83. Global Payments Inc. has a twelve month low of $61.16 and a twelve month high of $101.32. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.82 and a current ratio of 0.82. The firm's 50 day moving average price is $86.83 and its two-hundred day moving average price is $77.67.

Global Payments (NYSE:GPN - Get Free Report) last released its quarterly earnings results on Thursday, November 5th. The business services provider reported $3.58 earnings per share (EPS) for the quarter, meeting the consensus estimate of $3.58. The firm had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.18 billion. Global Payments had a positive return on equity of 13.80% and a negative net margin of 9.16%. The company's revenue for the quarter was up 36.1% on a year-over-year basis. During the same quarter last year, the business posted $3.26 EPS. On average, analysts forecast that Global Payments Inc. will post 13.65 EPS for the current fiscal year.

Global Payments Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 24th. Shareholders of record on Thursday, December 10th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, December 10th. This represents a $1.00 dividend on an annualized basis and a yield of 1.0%. Global Payments's dividend payout ratio is -21.93%.

Analyst Upgrades and Downgrades

GPN has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their price target on shares of Global Payments from $95.00 to $100.00 and gave the stock a "neutral" rating in a research note on Friday. Morgan Stanley reaffirmed an "overweight" rating and issued a $103.00 price objective on shares of Global Payments in a research note on Thursday, August 6th. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $106.00 target price (up from $102.00) on shares of Global Payments in a report on Monday, August 31st. Wolfe Research reiterated an "outperform" rating and set a $125.00 target price (up from $110.00) on shares of Global Payments in a research report on Tuesday, August 25th. Finally, HC Wainwright began coverage on shares of Global Payments in a research report on Thursday, August 6th. They set a "buy" rating for the company. Thirteen equities research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $98.07.

Global Payments Company Profile

Global Payments Inc is a payment technology and software company that helps businesses accept and manage payments. Its services support in-person, online and mobile transactions, along with point-of-sale systems and software for business operations.

The company also provides technology to financial institutions and other organizations that issue payment cards. Its services include card processing, account management and related digital tools.

Global Payments serves customers across a range of industries and operates internationally, with services available in many countries.

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