Gulf International Bank UK Ltd Trims Stake in Global Payments Inc. $GPN

Key Points

• Gulf International Bank UK Ltd reduced its stake in Global Payments Inc. by 30.6%, selling 6,262 shares and holding 14,208 shares worth approximately $1.39 million at the end of the most recent quarter.
• Analysts have varying ratings on Global Payments, with one research firm raising the target price from $85 to $90, while others have set targets ranging from $93 to $145.
• The company announced a quarterly dividend of $0.25 per share, representing an annualized yield of 1.2% with a payout ratio of 17.48%.

Gulf International Bank UK Ltd decreased its holdings in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 30.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,208 shares of the business services provider's stock after selling 6,262 shares during the period. Gulf International Bank UK Ltd's holdings in Global Payments were worth $1,391,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Optiver Holding B.V. bought a new stake in Global Payments during the fourth quarter worth about $28,000. NBC Securities Inc. bought a new stake in Global Payments during the first quarter worth about $30,000. True Wealth Design LLC bought a new stake in Global Payments during the fourth quarter worth about $40,000. Larson Financial Group LLC lifted its stake in Global Payments by 546.6% during the first quarter. Larson Financial Group LLC now owns 375 shares of the business services provider's stock worth $37,000 after purchasing an additional 317 shares during the last quarter. Finally, Zions Bancorporation National Association UT bought a new stake in Global Payments during the first quarter worth about $37,000. Institutional investors own 89.76% of the company's stock.

Insider Transactions at Global Payments

In other Global Payments news, General Counsel Dara L. Steele-Belkin sold 2,000 shares of the company's stock in a transaction that occurred 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 owned 30,713 shares in the company, valued at approximately $2,641,318. This represents a 6.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.01% of the stock is currently owned by corporate insiders.

Global Payments Trading Down 0.0%

NYSE:GPN traded down $0.0370 during mid-day trading on Thursday, reaching $85.7330. 351,965 shares of the company's stock traded hands, compared to its average volume of 2,798,637. Global Payments Inc. has a 12-month low of $65.93 and a 12-month high of $120.00. The firm has a market capitalization of $20.80 billion, a price-to-earnings ratio of 15.01, a PEG ratio of 0.83 and a beta of 0.93. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. The company has a 50 day moving average price of $81.05 and a 200-day moving average price of $86.40.

Global Payments (NYSE:GPN - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The business services provider reported $3.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.06 by $0.04. Global Payments had a return on equity of 12.47% and a net margin of 15.07%.The company had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter in the previous year, the business earned $2.93 EPS. Global Payments's revenue was up 1.6% compared to the same quarter last year. On average, sell-side analysts predict that Global Payments Inc. will post 11.89 earnings per share 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 issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Friday, September 12th. Global Payments's payout ratio is currently 17.48%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on GPN shares. Wall Street Zen raised Global Payments from a "hold" rating to a "buy" rating in a research note on Thursday, May 15th. Truist Financial lifted their price objective on Global Payments from $79.00 to $83.00 and gave the stock a "hold" rating in a report on Thursday, July 17th. TD Cowen upgraded Global Payments from a "hold" rating to a "buy" rating and set a $84.00 price objective on the stock in a report on Monday, July 14th. Wolfe Research reiterated a "peer perform" rating on shares of Global Payments in a report on Wednesday, April 23rd. Finally, Keefe, Bruyette & Woods lifted their price objective on Global Payments from $81.00 to $85.00 and gave the stock a "market perform" rating in a report on Wednesday, July 9th. Eleven analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $112.21.

Global Payments 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.