Handelsbanken Fonder AB Trims Position in Global Payments Inc. $GPN

Key Points

• Handelsbanken Fonder cut its Global Payments stake by 30.6% in the second quarter, selling 27,171 shares and retaining 61,750 shares valued at approximately $4.48 million. Institutional investors collectively own 89.76% of the company.
• Analyst sentiment is mixed, with 10 Buy, 15 Hold, and three Sell ratings; the stock has an average rating of Hold and a consensus price target of $90.68.
• Global Payments slightly exceeded quarterly EPS expectations, reporting $3.46 versus the $3.44 consensus, while revenue rose 68.6% year over year to $3.16 billion. The company also declared a quarterly dividend of $0.25 per share, yielding about 1.1% annually.

Handelsbanken Fonder AB lowered its position in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 30.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 61,750 shares of the business services provider's stock after selling 27,171 shares during the quarter. Handelsbanken Fonder AB's holdings in Global Payments were worth $4,481,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GPN. Gtcr LLC acquired a new stake in Global Payments in the 1st quarter worth about $2,911,939,000. Pzena Investment Management LLC lifted its holdings in shares of Global Payments by 1.8% during the 1st quarter. Pzena Investment Management LLC now owns 11,615,577 shares of the business services provider's stock worth $781,728,000 after acquiring an additional 205,880 shares during the period. Glenview Capital Management LLC lifted its holdings in shares of Global Payments by 13.8% during the 2nd quarter. Glenview Capital Management LLC now owns 4,316,892 shares of the business services provider's stock worth $345,524,000 after acquiring an additional 523,209 shares during the period. Norges Bank acquired a new stake in shares of Global Payments in the fourth quarter worth approximately $276,014,000. Finally, Northern Trust Corp boosted its position in shares of Global Payments by 1.7% in the fourth quarter. Northern Trust Corp now owns 2,675,925 shares of the business services provider's stock worth $207,117,000 after acquiring an additional 45,857 shares during the last quarter. 89.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GPN has been the subject of several research analyst reports. Susquehanna set a $111.00 price target on shares of Global Payments and gave the stock a "positive" rating in a research report on Wednesday, June 3rd. Rothschild & Co Redburn decreased their price target on shares of Global Payments from $70.00 to $60.00 and set a "sell" rating on the stock in a report on Tuesday, May 12th. Stephens set a $80.00 price objective on shares of Global Payments and gave the company an "equal weight" rating in a research note on Thursday, May 7th. Citigroup restated a "buy" rating on shares of Global Payments in a report on Thursday, August 6th. Finally, UBS Group assumed coverage on Global Payments in a research report on Thursday, August 6th. They issued a "buy" rating on the stock. Ten investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Global Payments currently has an average rating of "Hold" and an average price target of $90.68.

Global Payments Stock Performance

Global Payments stock opened at $93.00 on Friday. The stock's 50 day moving average price is $77.08 and its 200 day moving average price is $73.20. The firm has a market capitalization of $24.61 billion, a PE ratio of -31.21, a price-to-earnings-growth ratio of 0.55 and a beta of 0.74. Global Payments Inc. has a one year low of $61.16 and a one year high of $95.58. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.82 and a current ratio of 0.82.

Global Payments (NYSE:GPN - Get Free Report) last announced its earnings results on Wednesday, August 5th. The business services provider reported $3.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.44 by $0.02. Global Payments had a positive return on equity of 13.80% and a negative net margin of 9.16%.The business had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same period in the previous year, the company earned $3.10 earnings per share. The company's revenue for the quarter was up 68.6% compared to the same quarter last year. Global Payments has set its FY 2026 guidance at 13.600-13.800 EPS. As a group, sell-side analysts expect that Global Payments Inc. will post 13.67 EPS for the current fiscal year.

Global Payments Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 11th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Friday, September 11th. Global Payments's dividend payout ratio (DPR) is currently -33.56%.

Global Payments Company Profile

Global Payments Inc NYSE: GPN is a worldwide provider of payment technology and software solutions that enables commerce for merchants, issuers and enterprises. The company develops and operates payment processing networks, point-of-sale systems and cloud-based software that facilitate electronic transactions across in-store, online and mobile channels. Its services span merchant acquiring, payment gateway services, omnichannel commerce platforms, and solutions for recurring and subscription billing.

Global Payments offers a range of products and services including integrated payment terminals and point-of-sale software, e-commerce and gateway technologies, fraud prevention and tokenization tools, and business analytics and reporting.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source