MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $15.26 Million Holdings in Global Payments Inc. $GPN

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Global Payments Inc. by 26.7%, buying an additional 32,794 shares, bringing its total holdings to 155,821 shares valued at approximately $15.3 million.
• Recent analyst reports have adjusted price targets for Global Payments, with Truist Financial raising their target from $79 to $83 and UBS Group increasing theirs to $93, while KeyCorp set a target of $100.
• Global Payments announced a quarterly dividend of $0.25 per share, with an annualized dividend yield of 1.2% and a payout ratio of 17.48%, with dividends paid out on September 26th.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Global Payments Inc. (NYSE:GPN - Free Report) by 26.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 155,821 shares of the business services provider's stock after purchasing an additional 32,794 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.06% of Global Payments worth $15,258,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GPN. Brighton Jones LLC purchased a new position in Global Payments in the fourth quarter valued at about $725,000. Algert Global LLC purchased a new position in Global Payments in the fourth quarter valued at about $254,000. Baird Financial Group Inc. grew its stake in Global Payments by 14.1% in the fourth quarter. Baird Financial Group Inc. now owns 26,248 shares of the business services provider's stock valued at $2,941,000 after purchasing an additional 3,240 shares in the last quarter. Captrust Financial Advisors boosted its stake in shares of Global Payments by 18.5% during the 4th quarter. Captrust Financial Advisors now owns 24,953 shares of the business services provider's stock worth $2,796,000 after acquiring an additional 3,892 shares in the last quarter. Finally, Cetera Investment Advisers increased its holdings in shares of Global Payments by 7.5% during the 4th quarter. Cetera Investment Advisers now owns 25,738 shares of the business services provider's stock valued at $2,884,000 after acquiring an additional 1,798 shares during the last quarter. Hedge funds and other institutional investors own 89.76% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Keefe, Bruyette & Woods increased their price objective on Global Payments from $81.00 to $85.00 and gave the company a "market perform" rating in a report on Wednesday, July 9th. Evercore ISI raised their target price on Global Payments from $85.00 to $90.00 and gave the company an "in-line" rating in a report on Friday, August 8th. JPMorgan Chase & Co. raised their target price on Global Payments from $85.00 to $95.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. TD Cowen lowered Global Payments from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 21st. Finally, Royal Bank Of Canada raised their target price on Global Payments from $86.00 to $93.00 and gave the company a "sector perform" rating in a report on Thursday, August 7th. Ten analysts have rated the stock with a Buy rating and nineteen have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $112.21.

Insider Activity at Global Payments

In other news, General Counsel Dara L. Steele-Belkin sold 2,000 shares of Global Payments stock in a transaction on Thursday, August 7th. The stock was 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 directly owned 30,713 shares of the company's stock, valued at approximately $2,641,318. This trade represents a 6.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.01% of the company's stock.

Global Payments Stock Performance

Shares of GPN stock traded down $1.33 during mid-day trading on Friday, reaching $85.35. The stock had a trading volume of 1,344,702 shares, compared to its average volume of 1,949,164. The firm's 50 day simple moving average is $84.15 and its 200 day simple moving average is $83.82. 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 one year low of $65.93 and a one year high of $120.00. The firm has a market cap of $20.71 billion, a PE ratio of 14.92, a P/E/G ratio of 0.81 and a beta of 0.96.

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 the consensus estimate of $3.06 by $0.04. The business had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.36 billion. Global Payments had a return on equity of 12.47% and a net margin of 15.07%.Global Payments's revenue was up 1.6% on a year-over-year basis. During the same quarter last year, the company earned $2.93 EPS. On average, analysts forecast that Global Payments Inc. will post 11.89 EPS for the current 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 paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, September 12th. Global Payments's dividend payout ratio (DPR) is 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.