Fuller & Thaler Asset Management Inc. Grows Stock Holdings in Global Payments Inc. $GPN

Key Points

• Fuller & Thaler Asset Management Inc. increased its stake in Global Payments Inc. by 1.5%, bringing its total holdings to 268,153 shares valued at approximately $26.26 million as of the latest SEC filing.
• Global Payments reported a quarterly earnings per share (EPS) of $3.10, beating consensus estimates, and a revenue of $2.36 billion, reflecting a 1.6% increase from the previous year.
• The company announced a quarterly dividend of $0.25, translating to an annualized dividend yield of 1.2%, with an upcoming ex-dividend date of September 12th.

Fuller & Thaler Asset Management Inc. increased its stake in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 1.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 268,153 shares of the business services provider's stock after purchasing an additional 3,882 shares during the period. Fuller & Thaler Asset Management Inc. owned approximately 0.11% of Global Payments worth $26,258,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC bought a new stake in shares of Global Payments in the fourth quarter worth $725,000. GeoWealth Management LLC increased its position in Global Payments by 558.9% during the fourth quarter. GeoWealth Management LLC now owns 1,779 shares of the business services provider's stock valued at $199,000 after acquiring an additional 1,509 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its position in Global Payments by 833.2% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 18,701 shares of the business services provider's stock valued at $2,096,000 after acquiring an additional 16,697 shares during the last quarter. MetLife Investment Management LLC increased its position in Global Payments by 1.8% during the fourth quarter. MetLife Investment Management LLC now owns 67,357 shares of the business services provider's stock valued at $7,548,000 after acquiring an additional 1,199 shares during the last quarter. Finally, MML Investors Services LLC increased its position in Global Payments by 4.0% during the fourth quarter. MML Investors Services LLC now owns 22,014 shares of the business services provider's stock valued at $2,467,000 after acquiring an additional 845 shares during the last quarter. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

Global Payments Price Performance

Shares of NYSE:GPN traded up $4.2310 during midday trading on Friday, reaching $89.9510. 2,329,190 shares of the company were exchanged, compared to its average volume of 2,688,025. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. The business's fifty day moving average is $81.51 and its two-hundred day moving average is $86.09. Global Payments Inc. has a one year low of $65.93 and a one year high of $120.00. The stock has a market cap of $21.82 billion, a PE ratio of 15.73, a price-to-earnings-growth ratio of 0.82 and a beta of 0.93.

Global Payments (NYSE:GPN - Get Free Report) last issued its earnings results on Wednesday, August 6th. The business services provider reported $3.10 earnings per share 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 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 earned $2.93 earnings per share. Global Payments's revenue for the quarter was up 1.6% on a year-over-year basis. As a group, analysts predict that Global Payments Inc. will post 11.89 earnings per share for the current year.

Global Payments Announces Dividend

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 given a dividend of $0.25 per share. The ex-dividend date is Friday, September 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.1%. Global Payments's dividend payout ratio is currently 17.48%.

Insider Buying and Selling at Global Payments

In related news, General Counsel Dara L. Steele-Belkin sold 2,000 shares of the company'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 transaction, the general counsel owned 30,713 shares in the company, valued at approximately $2,641,318. This represents a 6.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.01% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on GPN. Royal Bank Of Canada boosted their target price on shares of Global Payments from $86.00 to $93.00 and gave the company a "sector perform" rating in a research report on Thursday, August 7th. Keefe, Bruyette & Woods boosted their target price on shares of Global Payments from $81.00 to $85.00 and gave the company a "market perform" rating in a research report on Wednesday, July 9th. JPMorgan Chase & Co. boosted their target price on shares of Global Payments from $85.00 to $95.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. TD Cowen upgraded shares of Global Payments from a "hold" rating to a "buy" rating and set a $84.00 target price for the company in a research report on Monday, July 14th. Finally, 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 research report on Thursday, July 17th. Eleven investment analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target 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.