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 cut its stake in Global Payments Inc. (NYSE:GPN - Free Report) by 51.5% in the first quarter, according to the company in its most recent 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.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Banco Bilbao Vizcaya Argentaria S.A. grew its position in shares of Global Payments by 0.4% in the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 33,902 shares of the business services provider's stock worth $3,795,000 after buying an additional 122 shares during the last quarter. Perigon Wealth Management LLC grew its holdings in shares of Global Payments by 3.8% during the first quarter. Perigon Wealth Management LLC now owns 3,932 shares of the business services provider's stock worth $385,000 after buying an additional 144 shares in the last quarter. Transcend Capital Advisors LLC grew its holdings in shares of Global Payments by 7.9% in the first quarter. Transcend Capital Advisors LLC now owns 2,135 shares of the business services provider's stock valued at $209,000 after purchasing an additional 157 shares during the period. Pinnacle Associates Ltd. boosted its stake in Global Payments by 4.1% during the first quarter. Pinnacle Associates Ltd. now owns 4,342 shares of the business services provider's stock worth $425,000 after buying an additional 171 shares during the period. Finally, Vident Advisory LLC lifted its position in shares of Global Payments by 1.7% during the fourth quarter. Vident Advisory LLC now owns 10,382 shares of the business services provider's stock worth $1,163,000 after purchasing an additional 172 shares in the last quarter. 89.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GPN has been the topic of a number of research reports. Jefferies Financial Group lowered shares of Global Payments from a "buy" rating to a "hold" rating and set a $75.00 target price on the stock. in a research report on Friday, April 18th. Citigroup reaffirmed a "buy" rating on shares of Global Payments in a research note on Monday, April 21st. Royal Bank Of Canada cut Global Payments from an "outperform" rating to a "sector perform" rating and set a $86.00 target price for the company. in a report on Friday, April 25th. Cowen lowered Global Payments from a "buy" rating to a "hold" rating in a research report on Monday, April 21st. Finally, Truist Financial increased their target price on Global Payments from $79.00 to $83.00 and gave the stock a "hold" rating in a research report on Thursday, July 17th. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Global Payments has a consensus rating of "Hold" and an average target price of $111.65.

Global Payments Stock Performance

GPN stock traded down $1.95 during mid-day trading on Friday, reaching $78.00. 2,099,772 shares of the stock traded hands, compared to its average volume of 2,061,985. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.66. The business has a 50-day moving average of $79.20 and a two-hundred day moving average of $88.59. Global Payments Inc. has a 52 week low of $65.93 and a 52 week high of $120.00. The firm has a market capitalization of $19.02 billion, a PE ratio of 12.58, a P/E/G ratio of 0.75 and a beta of 0.93.

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

Global Payments Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Friday, June 13th. Global Payments's dividend payout ratio (DPR) is currently 16.13%.

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.