iA Global Asset Management Inc. Buys New Holdings in Global Payments Inc. (NYSE:GPN)

Key Points

• iA Global Asset Management Inc. has acquired a new position in Global Payments Inc., purchasing 4,016 shares valued at approximately $393,000 during the first quarter.
• Global Payments reported a quarterly earnings of $3.10 per share, exceeding estimates, with a revenue of $2.36 billion for the quarter, indicating a 1.6% increase year-over-year.
• The company recently announced a quarterly dividend of $0.25 per share, which translates to an annual dividend yield of 1.2% and reflects a 16.13% dividend payout ratio.

iA Global Asset Management Inc. purchased a new stake in Global Payments Inc. (NYSE:GPN - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 4,016 shares of the business services provider's stock, valued at approximately $393,000.

Several other large investors have also modified their holdings of GPN. Optiver Holding B.V. purchased a new stake in shares of Global Payments in the 4th quarter valued at $28,000. NBC Securities Inc. purchased a new stake in shares of Global Payments in the 1st quarter valued at $30,000. True Wealth Design LLC purchased a new stake in shares of Global Payments in the 4th quarter valued at $40,000. Larson Financial Group LLC raised its holdings in shares of Global Payments by 546.6% in the 1st quarter. Larson Financial Group LLC now owns 375 shares of the business services provider's stock valued at $37,000 after buying an additional 317 shares during the period. Finally, Golden State Wealth Management LLC raised its holdings in shares of Global Payments by 4,866.7% in the 1st quarter. Golden State Wealth Management LLC now owns 447 shares of the business services provider's stock valued at $44,000 after buying an additional 438 shares during the period. Institutional investors and hedge funds own 89.76% of the company's stock.

Global Payments Price Performance

Global Payments stock traded down $1.06 during mid-day trading on Friday, hitting $80.96. 2,585,682 shares of the company were exchanged, compared to its average volume of 2,538,926. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.94. The business's 50 day simple moving average is $79.80 and its two-hundred day simple moving average is $87.64. The company has a market capitalization of $19.64 billion, a P/E ratio of 14.15, a PEG ratio of 0.78 and a beta of 0.93. Global Payments Inc. has a 12-month low of $65.93 and a 12-month high of $120.00.

Global Payments (NYSE:GPN - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The business services provider reported $3.10 earnings per share for the quarter, topping the consensus estimate of $3.06 by $0.04. The company had revenue of $2.36 billion during the quarter, compared to the consensus estimate 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 was up 1.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.93 earnings per share. Analysts forecast that Global Payments Inc. will post 11.89 earnings per share for the current fiscal year.

Global Payments Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, September 12th. This represents a $1.00 annualized dividend and a dividend yield of 1.2%. Global Payments's dividend payout ratio (DPR) is 17.48%.

Analysts Set New Price Targets

GPN has been the topic of several research analyst reports. Wall Street Zen upgraded Global Payments from a "hold" rating to a "buy" rating in a report on Thursday, May 15th. Barclays cut their price target on Global Payments from $125.00 to $110.00 and set an "overweight" rating on the stock in a report on Tuesday, April 15th. TD Cowen upgraded Global Payments from a "hold" rating to a "buy" rating and set a $84.00 price target on the stock in a report on Monday, July 14th. Keefe, Bruyette & Woods upped their target price on Global Payments from $81.00 to $85.00 and gave the company a "market perform" rating in a research report on Wednesday, July 9th. Finally, UBS Group upped their target price on Global Payments from $85.00 to $93.00 and gave the company a "neutral" rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, eighteen have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Global Payments has a consensus rating of "Hold" and an average price target of $112.21.

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.