Global Payments Inc. $GPN is Invenomic Capital Management LP's 3rd Largest Position

Key Points

• Invenomic Capital Management LP reduced its stake in Global Payments Inc. by 5.9%, holding approximately 503,966 shares valued at around $49.35 million, making it the firm's third-largest holding.
• Global Payments reported earnings per share (EPS) of $3.10 for the latest quarter, slightly exceeding analysts' estimates, with a year-over-year revenue increase of 1.6%.
• The company declared a quarterly dividend of $0.25, resulting in an annualized dividend yield of 1.1%, with the payment set for September 26th.

Invenomic Capital Management LP reduced its stake in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 5.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 503,966 shares of the business services provider's stock after selling 31,488 shares during the quarter. Global Payments comprises about 2.5% of Invenomic Capital Management LP's investment portfolio, making the stock its 3rd biggest position. Invenomic Capital Management LP owned 0.21% of Global Payments worth $49,348,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Pzena Investment Management LLC grew its stake in shares of Global Payments by 0.4% during the first quarter. Pzena Investment Management LLC now owns 8,334,097 shares of the business services provider's stock valued at $816,075,000 after buying an additional 35,251 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Global Payments by 9.8% during the fourth quarter. Janus Henderson Group PLC now owns 2,906,444 shares of the business services provider's stock valued at $325,698,000 after buying an additional 259,590 shares during the last quarter. Amundi grew its stake in shares of Global Payments by 77.5% during the first quarter. Amundi now owns 2,001,585 shares of the business services provider's stock valued at $186,107,000 after buying an additional 874,175 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Global Payments by 2.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,955,393 shares of the business services provider's stock valued at $191,451,000 after buying an additional 49,029 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Global Payments by 40.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,656,830 shares of the business services provider's stock valued at $185,664,000 after buying an additional 479,791 shares during the last quarter. 89.76% of the stock is owned by institutional investors.

Global Payments Price Performance

Shares of NYSE:GPN traded down $0.35 during trading on Monday, reaching $87.43. 1,782,257 shares of the company's stock traded hands, compared to its average volume of 2,182,874. Global Payments Inc. has a fifty-two week low of $65.93 and a fifty-two week 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. The firm has a market cap of $21.21 billion, a PE ratio of 15.29, a P/E/G ratio of 0.84 and a beta of 0.96. The company has a 50-day simple moving average of $83.67 and a 200-day simple moving average of $84.41.

Global Payments (NYSE:GPN - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The business services provider reported $3.10 EPS for the quarter, beating 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%. The business's revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.93 EPS. As a group, analysts predict that Global Payments Inc. will post 11.89 earnings per share for the current year.

Global Payments Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.1%. The ex-dividend date is Friday, September 12th. Global Payments's dividend payout ratio (DPR) is 17.48%.

Analyst Ratings Changes

A number of research analysts have recently commented on GPN shares. Mizuho raised Global Payments from a "neutral" rating to an "outperform" rating and upped their target price for the company from $86.00 to $114.00 in a research note on Friday, July 25th. TD Cowen cut Global Payments from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 21st. JPMorgan Chase & Co. upped their target price on Global Payments from $85.00 to $95.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Truist Financial upped their price objective on shares of Global Payments from $79.00 to $83.00 and gave the stock a "hold" rating in a research note on Thursday, July 17th. Finally, Wall Street Zen raised shares of Global Payments from a "hold" rating to a "buy" rating in a research note on Thursday, May 15th. Ten investment analysts have rated the stock with a Buy rating and nineteen have given a Hold rating to the company's stock. According to MarketBeat, Global Payments has an average rating of "Hold" and a consensus target price of $112.21.

Insiders Place Their Bets

In other Global Payments news, General Counsel Dara L. Steele-Belkin sold 2,000 shares of the business's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $86.00, for a total value of $172,000.00. Following the completion of the transaction, the general counsel owned 30,713 shares in the company, valued at $2,641,318. The trade was a 6.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.01% of the company's stock.

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.