IFM Investors Pty Ltd Has $4.14 Million Stock Position in Global Payments Inc. $GPN

Key Points

• IFM Investors Pty Ltd increased its stake in Global Payments Inc. by 9.9% during the second quarter, owning 51,756 shares valued at approximately $4.14 million.
• The company recently declared a quarterly dividend of $0.25 per share, representing an annualized dividend of $1.00 and a yield of 1.2%.
• Global Payments reported earnings of $3.10 per share for the last quarter, surpassing analysts' expectations and reflecting a year-over-year revenue growth of 1.6%.

IFM Investors Pty Ltd lifted its position in Global Payments Inc. (NYSE:GPN - Free Report) by 9.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 51,756 shares of the business services provider's stock after buying an additional 4,679 shares during the period. IFM Investors Pty Ltd's holdings in Global Payments were worth $4,143,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of GPN. NBC Securities Inc. bought a new stake in Global Payments during the 1st quarter valued at approximately $30,000. Larson Financial Group LLC raised its stake in shares of Global Payments by 546.6% in the first quarter. Larson Financial Group LLC now owns 375 shares of the business services provider's stock valued at $37,000 after acquiring an additional 317 shares during the period. Zions Bancorporation National Association UT purchased a new stake in shares of Global Payments in the first quarter worth approximately $37,000. Quarry LP purchased a new stake in shares of Global Payments during the first quarter valued at $42,000. Finally, Golden State Wealth Management LLC grew its stake in 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 worth $44,000 after acquiring an additional 438 shares in the last quarter. Institutional investors own 89.76% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on GPN. Truist Financial increased their price target on shares of Global Payments from $79.00 to $83.00 and gave the company a "hold" rating in a research report on Thursday, July 17th. Evercore ISI lifted their price objective on shares of Global Payments from $85.00 to $90.00 and gave the stock an "in-line" rating in a research report on Friday, August 8th. JPMorgan Chase & Co. upped their price objective on Global Payments from $85.00 to $95.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Royal Bank Of Canada lifted their price target on Global Payments from $86.00 to $93.00 and gave the stock a "sector perform" rating in a research report on Thursday, August 7th. Finally, UBS Group lifted their price objective on shares of Global Payments from $85.00 to $93.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Nine investment analysts have rated the stock with a Buy rating and nineteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $110.70.

Global Payments Trading Up 0.4%

Shares of NYSE GPN traded up $0.31 during trading on Monday, hitting $86.86. 3,095,874 shares of the company traded hands, compared to its average volume of 2,189,419. The company has a 50-day moving average price of $84.66 and a 200-day moving average price of $83.25. The firm has a market capitalization of $21.07 billion, a P/E ratio of 15.19, a P/E/G ratio of 0.83 and a beta of 0.96. Global Payments Inc. has a 1 year low of $65.93 and a 1 year high of $120.00. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61.

Global Payments (NYSE:GPN - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.36 billion. Global Payments had a net margin of 15.07% and a return on equity of 12.47%. Global Payments's quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.93 earnings per share. On average, equities analysts predict that Global Payments Inc. will post 11.89 EPS for the current year.

Global Payments Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Friday, September 12th. Global Payments's dividend payout ratio is 17.48%.

Insider Buying and Selling at Global Payments

In related news, General Counsel Dara L. Steele-Belkin sold 2,000 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $86.00, for a total transaction of $172,000.00. Following the completion of the sale, the general counsel directly owned 30,713 shares in the company, valued at approximately $2,641,318. This trade represents a 6.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.01% of the company's stock.

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.