Global Payments Inc. $GPN Shares Sold by MIdWestOne Financial Group Inc.

Key Points

• MIdWestOne Financial Group cut its stake in Global Payments by 48.2% in the fourth quarter, selling 28,088 shares and leaving it with 30,157 shares worth about $2.33 million.
• Global Payments reported better-than-expected quarterly results, posting EPS of $2.96 versus the $2.82 estimate and revenue of $2.86 billion, with revenue up 63.1% year over year.
• The company also announced a quarterly dividend of $0.25 per share, while analysts currently rate the stock Hold on average with a consensus price target of $84.73.

MIdWestOne Financial Group Inc. cut its position in Global Payments Inc. (NYSE:GPN - Free Report) by 48.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,157 shares of the business services provider's stock after selling 28,088 shares during the quarter. MIdWestOne Financial Group Inc.'s holdings in Global Payments were worth $2,334,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Traynor Capital Management Inc. raised its holdings in Global Payments by 3.5% during the fourth quarter. Traynor Capital Management Inc. now owns 4,221 shares of the business services provider's stock valued at $327,000 after buying an additional 141 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its stake in shares of Global Payments by 1.6% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 10,260 shares of the business services provider's stock worth $794,000 after purchasing an additional 163 shares during the period. Allworth Financial LP increased its stake in Global Payments by 43.2% during the third quarter. Allworth Financial LP now owns 610 shares of the business services provider's stock valued at $51,000 after acquiring an additional 184 shares during the period. Van ECK Associates Corp increased its stake in Global Payments by 0.6% during the third quarter. Van ECK Associates Corp now owns 30,262 shares of the business services provider's stock valued at $2,514,000 after acquiring an additional 187 shares during the period. Finally, New Mexico Educational Retirement Board boosted its holdings in Global Payments by 1.8% during the fourth quarter. New Mexico Educational Retirement Board now owns 11,248 shares of the business services provider's stock valued at $871,000 after purchasing an additional 200 shares in the last quarter. 89.76% of the stock is owned by institutional investors and hedge funds.

Global Payments Stock Up 4.8%

Global Payments stock opened at $65.45 on Friday. The stock has a market cap of $17.90 billion, a P/E ratio of -32.09, a P/E/G ratio of 0.35 and a beta of 0.76. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.86. Global Payments Inc. has a twelve month low of $61.16 and a twelve month high of $90.64. The company's 50-day moving average price is $68.94 and its two-hundred day moving average price is $73.11.

Global Payments (NYSE:GPN - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The business services provider reported $2.96 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.14. Global Payments had a negative net margin of 7.99% and a positive return on equity of 13.11%. The firm had revenue of $2.86 billion for the quarter, compared to analysts' expectations of $2.81 billion. During the same period in the prior year, the firm earned $2.82 EPS. The business's revenue was up 63.1% on a year-over-year basis. Global Payments has set its FY 2026 guidance at 13.800-14.000 EPS. As a group, analysts expect that Global Payments Inc. will post 13.88 EPS for the current year.

Global Payments Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 12th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, June 12th. This represents a $1.00 annualized dividend and a dividend yield of 1.5%. Global Payments's dividend payout ratio (DPR) is currently -49.02%.

Analyst Ratings Changes

A number of research firms have weighed in on GPN. Weiss Ratings downgraded Global Payments from a "hold (c-)" rating to a "sell (d)" rating in a report on Monday, May 11th. UBS Group restated a "neutral" rating and issued a $80.00 price objective on shares of Global Payments in a research report on Thursday, May 7th. Keefe, Bruyette & Woods dropped their target price on shares of Global Payments from $90.00 to $76.00 and set a "market perform" rating for the company in a research report on Tuesday, April 7th. TD Cowen reiterated a "hold" rating and set a $74.00 target price (down from $86.00) on shares of Global Payments in a research report on Thursday. Finally, BTIG Research restated a "neutral" rating on shares of Global Payments in a research report on Tuesday. Five analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, Global Payments has a consensus rating of "Hold" and an average price target of $84.73.

About Global Payments

Global Payments Inc NYSE: GPN is a worldwide provider of payment technology and software solutions that enables commerce for merchants, issuers and enterprises. The company develops and operates payment processing networks, point-of-sale systems and cloud-based software that facilitate electronic transactions across in-store, online and mobile channels. Its services span merchant acquiring, payment gateway services, omnichannel commerce platforms, and solutions for recurring and subscription billing.

Global Payments offers a range of products and services including integrated payment terminals and point-of-sale software, e-commerce and gateway technologies, fraud prevention and tokenization tools, and business analytics and reporting.

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