J. Safra Sarasin Holding AG Makes New $299,000 Investment in Global Payments Inc. $GPN

Key Points

• J. Safra Sarasin Holding AG has made a new investment of approximately $299,000 in Global Payments Inc., acquiring 3,733 shares of the company in the second quarter.
• Global Payments reported earnings of $3.10 per share, beating analysts' estimates by $0.04, along with a revenue of $2.36 billion for the quarter.
• The company disclosed a quarterly dividend of $0.25 per share, resulting in an annualized dividend yield of 1.1%.

J. Safra Sarasin Holding AG bought a new position in Global Payments Inc. (NYSE:GPN - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 3,733 shares of the business services provider's stock, valued at approximately $299,000.

Other large investors have also modified their holdings of the company. Golden State Wealth Management LLC raised its stake in Global Payments by 4,866.7% during the first 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 in the last quarter. Tradewinds LLC. bought a new stake in shares of Global Payments in the 1st quarter valued at approximately $685,000. Argyle Capital Management LLC raised its position in shares of Global Payments by 114.4% during the 1st quarter. Argyle Capital Management LLC now owns 18,305 shares of the business services provider's stock valued at $1,792,000 after acquiring an additional 9,768 shares in the last quarter. Malaga Cove Capital LLC lifted its stake in Global Payments by 85.0% during the first quarter. Malaga Cove Capital LLC now owns 15,094 shares of the business services provider's stock worth $1,478,000 after purchasing an additional 6,933 shares during the last quarter. Finally, Teacher Retirement System of Texas boosted its holdings in Global Payments by 1,828.3% in the first quarter. Teacher Retirement System of Texas now owns 45,932 shares of the business services provider's stock worth $4,498,000 after purchasing an additional 43,550 shares during the period. Institutional investors own 89.76% of the company's stock.

Insider Activity at Global Payments

In related news, General Counsel Dara L. Steele-Belkin sold 2,000 shares of the business'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 sale, the general counsel owned 30,713 shares of the company's stock, valued at $2,641,318. The trade was a 6.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.01% of the stock is owned by corporate insiders.

Global Payments Trading Up 1.8%

Shares of GPN stock opened at $88.00 on Monday. Global Payments Inc. has a 1 year low of $65.93 and a 1 year high of $120.00. The firm has a market capitalization of $21.35 billion, a PE ratio of 15.38, a price-to-earnings-growth ratio of 0.84 and a beta of 0.98. The stock has a fifty day moving average of $85.37 and a two-hundred day moving average of $82.56. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95.

Global Payments (NYSE:GPN - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The business services provider reported $3.10 earnings per share for the quarter, beating analysts' consensus estimates of $3.06 by $0.04. The business had revenue of $2.36 billion for the quarter, compared to analysts' expectations of $2.36 billion. Global Payments had a net margin of 15.07% and a return on equity of 12.47%. The company's revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the business earned $2.93 earnings per share. As a group, research analysts expect that Global Payments Inc. will post 11.89 EPS for the current year.

Global Payments Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GPN. Mizuho raised shares of Global Payments from a "neutral" rating to an "outperform" rating and increased their target price for the stock from $86.00 to $114.00 in a report on Friday, July 25th. Keefe, Bruyette & Woods boosted their price objective on shares of Global Payments from $81.00 to $85.00 and gave the company a "market perform" rating in a research report on Wednesday, July 9th. UBS Group raised their target price on shares of Global Payments from $85.00 to $93.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Truist Financial upped their target price on Global Payments from $79.00 to $83.00 and gave the company a "hold" rating in a report on Thursday, July 17th. Finally, B. Riley reissued a "buy" rating on shares of Global Payments in a report on Wednesday, July 16th. Eight equities research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. According to MarketBeat, Global Payments has an average rating of "Hold" and a consensus target price of $103.75.

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.

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