First National Trust Co Sells 4,838 Shares of Global Payments Inc. (NYSE:GPN)

Key Points

• First National Trust Co reduced its holdings of Global Payments Inc. by 51.5% in Q1, owning 4,565 shares valued at approximately $447,000 after selling 4,838 shares during the quarter.
• Despite a 0.3% year-over-year revenue decline, Global Payments reported Q1 earnings per share of $2.82, exceeding estimates and reflecting a return on equity of 12.33%.
• Global Payments declared a $0.25 quarterly dividend, resulting in an annualized yield of 1.3% and a dividend payout ratio of 16.13%.

First National Trust Co trimmed its position in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 51.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,565 shares of the business services provider's stock after selling 4,838 shares during the period. First National Trust Co's holdings in Global Payments were worth $447,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Brighton Jones LLC bought a new position in shares of Global Payments in the 4th quarter worth about $725,000. Orion Portfolio Solutions LLC lifted its position in shares of Global Payments by 2.0% in the 4th quarter. Orion Portfolio Solutions LLC now owns 18,695 shares of the business services provider's stock worth $2,095,000 after buying an additional 363 shares during the last quarter. Brown Brothers Harriman & Co. lifted its position in Global Payments by 374.2% in the 4th quarter. Brown Brothers Harriman & Co. now owns 569 shares of the business services provider's stock valued at $64,000 after purchasing an additional 449 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its position in Global Payments by 7.3% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 11,798 shares of the business services provider's stock valued at $1,322,000 after purchasing an additional 799 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its position in Global Payments by 4.7% in the 4th quarter. Alliancebernstein L.P. now owns 377,735 shares of the business services provider's stock valued at $42,329,000 after purchasing an additional 16,970 shares during the last quarter. 89.76% of the stock is owned by institutional investors and hedge funds.

Global Payments Stock Down 0.5%

Shares of GPN stock traded down $0.43 during trading on Tuesday, hitting $78.46. 1,516,255 shares of the company were exchanged, compared to its average volume of 2,782,342. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market capitalization of $19.13 billion, a price-to-earnings ratio of 12.64, a P/E/G ratio of 0.75 and a beta of 0.93. The business's 50-day simple moving average is $79.29 and its 200 day simple moving average is $88.24. Global Payments Inc. has a twelve month low of $65.93 and a twelve month high of $120.00.

Global Payments (NYSE:GPN - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The business services provider reported $2.82 EPS for the quarter, topping the consensus estimate of $2.73 by $0.09. The business had revenue of $2.20 billion during the quarter, compared to analysts' expectations of $2.20 billion. Global Payments had a net margin of 15.48% and a return on equity of 12.33%. The firm's quarterly revenue was down .3% compared to the same quarter last year. During the same period last year, the company posted $2.59 earnings per share. As a group, analysts forecast that Global Payments Inc. will post 11.89 EPS for the current fiscal year.

Global Payments Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Friday, June 13th. Global Payments's payout ratio is currently 16.13%.

Analyst Ratings Changes

Several analysts recently weighed in on GPN shares. Wolfe Research reiterated a "peer perform" rating on shares of Global Payments in a research report on Wednesday, April 23rd. Royal Bank Of Canada cut shares of Global Payments from an "outperform" rating to a "sector perform" rating and set a $86.00 target price on the stock. in a research note on Friday, April 25th. Truist Financial raised their target price on shares of Global Payments from $79.00 to $83.00 and gave the company a "hold" rating in a research note on Thursday, July 17th. B. Riley reissued a "buy" rating on shares of Global Payments in a research note on Wednesday, July 16th. Finally, TD Cowen raised shares of Global Payments from a "hold" rating to a "buy" rating and set a $84.00 target price on the stock in a research note on Monday, July 14th. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $111.65.

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.