State of Wyoming Has $823,000 Stock Position in Global Payments Inc. $GPN

Key Points

• The State of Wyoming increased its holdings in Global Payments Inc. by 59.4% in the first quarter, bringing its total to 8,405 shares valued at approximately $823,000.
• A number of institutional investors, including Golden State Wealth Management and TFC Financial Management, have significantly boosted their stakes in Global Payments, with 89.76% of the stock now owned by institutional investors.
• Global Payments has recently reported a quarterly earnings beat, with $3.10 EPS against expectations of $3.06 EPS, and it is set to distribute a quarterly dividend of $0.25 per share on September 26th.

State of Wyoming grew its holdings in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 59.4% in the first quarter, according to its most recent filing with the SEC. The firm owned 8,405 shares of the business services provider's stock after acquiring an additional 3,131 shares during the quarter. State of Wyoming's holdings in Global Payments were worth $823,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in GPN. Brighton Jones LLC acquired a new position in Global Payments during the 4th quarter worth $725,000. Integrated Wealth Concepts LLC boosted its position in Global Payments by 24.7% during the 4th quarter. Integrated Wealth Concepts LLC now owns 2,548 shares of the business services provider's stock worth $285,000 after acquiring an additional 504 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in Global Payments during the 4th quarter worth $1,708,000. Northern Trust Corp boosted its position in Global Payments by 12.6% during the 4th quarter. Northern Trust Corp now owns 2,730,471 shares of the business services provider's stock worth $305,977,000 after acquiring an additional 305,987 shares during the period. Finally, AQR Arbitrage LLC boosted its position in Global Payments by 9.8% during the 4th quarter. AQR Arbitrage LLC now owns 40,763 shares of the business services provider's stock worth $4,560,000 after acquiring an additional 3,641 shares during the period. Institutional investors and hedge funds own 89.76% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on GPN. KeyCorp reiterated an "overweight" rating and set a $100.00 price target (up previously from $90.00) on shares of Global Payments in a research report on Thursday, August 7th. Royal Bank Of Canada upped their price objective on Global Payments from $86.00 to $93.00 and gave the company a "sector perform" rating in a report on Thursday, August 7th. Truist Financial upped their price objective on Global Payments from $79.00 to $83.00 and gave the company a "hold" rating in a report on Thursday, July 17th. Mizuho upgraded Global Payments from a "neutral" rating to an "outperform" rating and upped their price objective for the company from $86.00 to $114.00 in a report on Friday, July 25th. Finally, Keefe, Bruyette & Woods upped 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. Ten equities research analysts have rated the stock with a Buy rating, nineteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $112.21.

Insiders Place Their Bets

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 stock was sold at an average price of $86.00, for a total transaction of $172,000.00. Following the transaction, the general counsel directly owned 30,713 shares of the company's stock, valued at approximately $2,641,318. The trade was a 6.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.01% of the company's stock.

Global Payments Trading Down 2.0%

Shares of Global Payments stock traded down $1.74 on Tuesday, reaching $87.08. 1,642,299 shares of the company were exchanged, compared to its average volume of 2,765,810. The stock has a fifty day moving average price of $82.98 and a 200-day moving average price of $84.94. The firm has a market capitalization of $21.13 billion, a price-to-earnings ratio of 15.22, a price-to-earnings-growth ratio of 0.85 and a beta of 0.96. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. Global Payments Inc. has a fifty-two week low of $65.93 and a fifty-two week high of $120.00.

Global Payments (NYSE:GPN - Get Free Report) last announced its earnings results on Wednesday, August 6th. The business services provider reported $3.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.06 by $0.04. The company had revenue of $2.36 billion for the quarter, compared to analyst estimates 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 for the quarter was up 1.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.93 earnings per share. On average, analysts expect that Global Payments Inc. will post 11.89 EPS for the current year.

Global Payments Announces Dividend

The firm also recently declared 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. This represents a $1.00 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Friday, September 12th. Global Payments's payout ratio is presently 17.48%.

Global Payments Company 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.