Global Payments Inc. $GPN Shares Purchased by Jump Financial LLC

Key Points

• Jump Financial LLC significantly increased its stake in Global Payments Inc. by 4,100.4% during the first quarter, now holding 85,268 shares valued at approximately $8.35 million.
• Other institutional investors, such as SG Americas Securities LLC, also made notable increases, with SG Americas raising their holdings by 75,379.7% and acquiring over 1.5 million shares.
• Global Payments recently reported earnings of $3.10 per share, exceeding estimates, while also announcing a quarterly dividend of $0.25 per share with a yield of 1.1%.

Jump Financial LLC lifted its position in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 4,100.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,268 shares of the business services provider's stock after acquiring an additional 83,238 shares during the quarter. Jump Financial LLC's holdings in Global Payments were worth $8,349,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of GPN. Optiver Holding B.V. purchased a new stake in shares of Global Payments during the 4th quarter worth approximately $28,000. NBC Securities Inc. purchased a new stake in Global Payments in the 1st quarter valued at approximately $30,000. Larson Financial Group LLC lifted its stake in 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 in the last quarter. Zions Bancorporation National Association UT purchased a new stake in Global Payments in the 1st quarter valued at approximately $37,000. Finally, True Wealth Design LLC purchased a new stake in Global Payments in the 4th quarter valued at approximately $40,000. Hedge funds and other institutional investors own 89.76% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on GPN shares. B. Riley reaffirmed a "buy" rating on shares of Global Payments in a research note on Wednesday, July 16th. 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 note on Wednesday, July 9th. Truist Financial upped their target price on Global Payments from $79.00 to $83.00 and gave the company a "hold" rating in a research note on Thursday, July 17th. JPMorgan Chase & Co. upped their target price on Global Payments from $85.00 to $95.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Finally, Royal Bank Of Canada upped their target price on Global Payments from $86.00 to $93.00 and gave the company a "sector perform" rating in a research note on Thursday, August 7th. Ten analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $112.21.

Global Payments Trading Up 0.7%

Shares of Global Payments stock traded up $0.66 during trading hours on Friday, reaching $88.88. 1,818,326 shares of the company's stock were exchanged, compared to its average volume of 2,620,473. Global Payments Inc. has a 52-week low of $65.93 and a 52-week high of $120.00. The firm has a market capitalization of $21.56 billion, a price-to-earnings ratio of 15.54, a price-to-earnings-growth ratio of 0.85 and a beta of 0.93. The company has a fifty day moving average of $82.73 and a 200-day moving average of $85.19. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61.

Global Payments (NYSE:GPN - Get Free Report) last issued its 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. Global Payments had a return on equity of 12.47% and a net margin of 15.07%.The business had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same period last year, the company posted $2.93 EPS. The business's quarterly revenue was up 1.6% on a year-over-year basis. Sell-side analysts forecast that Global Payments Inc. will post 11.89 EPS for the current fiscal year.

Global Payments Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, September 12th. Global Payments's payout ratio is currently 17.48%.

Insider Activity

In related news, General Counsel Dara L. Steele-Belkin sold 2,000 shares of the 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 owned 30,713 shares of the company's stock, valued at approximately $2,641,318. This represents a 6.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.