Global Payments Inc. $GPN Stock Acquired by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its Global Payments stake by 550.8% in the third quarter, owning 182,162 shares valued at approximately $14.9 million. Institutional investors collectively hold 89.76% of the company.
• Analyst sentiment is mixed but improving: several firms upgraded the stock or raised price targets, while the consensus rating remains Hold with an average target of $96.17.
• Global Payments reported quarterly adjusted earnings of $3.46 per share, narrowly beating estimates, while revenue rose 68.6% year over year to $3.16 billion. The company also pays a quarterly dividend of $0.25, for an annualized yield of about 1.2%.

Assenagon Asset Management S.A. lifted its position in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 550.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 182,162 shares of the business services provider's stock after acquiring an additional 154,173 shares during the period. Assenagon Asset Management S.A. owned about 0.07% of Global Payments worth $14,877,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Gtcr LLC acquired a new position in shares of Global Payments during the first quarter valued at $2,911,939,000. Pzena Investment Management LLC bought a new stake in shares of Global Payments during the second quarter valued at approximately $848,344,000. Dimensional Fund Advisors LP boosted its position in Global Payments by 1.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,117,172 shares of the business services provider's stock worth $142,478,000 after acquiring an additional 23,293 shares during the period. Deutsche Bank AG acquired a new stake in Global Payments in the second quarter worth about $138,781,000. Finally, Legal & General Group Plc bought a new position in shares of Global Payments in the second quarter valued at approximately $120,036,000. Institutional investors and hedge funds own 89.76% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Jefferies Financial Group upgraded shares of Global Payments from a "hold" rating to a "buy" rating in a research report on Thursday, August 6th. Wolfe Research reiterated an "outperform" rating and set a $125.00 price objective (up from $110.00) on shares of Global Payments in a research report on Tuesday, August 25th. Oppenheimer raised Global Payments from a "market perform" rating to an "outperform" rating and set a $115.00 price objective for the company in a research note on Thursday, October 8th. Argus set a $110.00 price objective on Global Payments and gave the stock a "buy" rating in a research note on Thursday, August 6th. Finally, HC Wainwright began coverage on Global Payments in a report on Thursday, August 6th. They issued a "buy" rating on the stock. Thirteen research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $96.17.

Global Payments Trading Up 1.3%

Shares of GPN stock opened at $84.73 on Tuesday. Global Payments Inc. has a 1 year low of $61.16 and a 1 year high of $95.88. The firm's fifty day simple moving average is $87.39 and its 200 day simple moving average is $77.83. The firm has a market capitalization of $22.42 billion, a P/E ratio of 6.51, a price-to-earnings-growth ratio of 0.41 and a beta of 0.80. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.90.

Global Payments (NYSE:GPN - Get Free Report) last released its earnings results on Wednesday, August 5th. The business services provider reported $3.46 earnings per share for the quarter, beating the consensus estimate of $3.44 by $0.02. Global Payments had a negative net margin of 9.16% and a positive return on equity of 13.80%. The business had revenue of $3.16 billion during the quarter, compared to analysts' expectations of $3.16 billion. During the same quarter last year, the company earned $3.10 earnings per share. The firm's revenue was up 68.6% on a year-over-year basis. Global Payments has set its FY 2026 guidance at 13.600-13.800 EPS. As a group, sell-side analysts predict that Global Payments Inc. will post 13.64 EPS for the current year.

Global Payments Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 11th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Friday, September 11th. Global Payments's dividend payout ratio is currently -33.56%.

Global Payments Profile

Global Payments Inc NYSE: GPN is a financial technology and payments company that provides software and payment solutions to businesses, financial institutions and other organizations. Its services help merchants accept payments through credit cards, debit cards, digital wallets and other electronic methods across in-store, online and mobile channels.

The company offers payment processing, point-of-sale technology, commerce management software, payment security and reporting tools. Its solutions are used in industries including retail, restaurants, hospitality, healthcare, education and government.

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