KLP Kapitalforvaltning AS Raises Holdings in Global Payments Inc. $GPN

Key Points

• KLP Kapitalforvaltning AS increased its holdings in Global Payments Inc. by 4.4% during the second quarter, now owning nearly 99,000 shares valued at approximately $7.9 million.
• Global Payments recently declared a $0.25 quarterly dividend, with a payout ratio of 17.48% and a dividend yield of 1.1%.
• The company's stock has seen a 1.5% decrease, currently trading at $87.16, with shares hitting a 1-year high of $120.00 and a low of $65.93.

KLP Kapitalforvaltning AS grew its position in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 4.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 98,937 shares of the business services provider's stock after purchasing an additional 4,200 shares during the period. KLP Kapitalforvaltning AS's holdings in Global Payments were worth $7,919,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Valeo Financial Advisors LLC grew its position in shares of Global Payments by 5.1% during the second quarter. Valeo Financial Advisors LLC now owns 3,320 shares of the business services provider's stock valued at $266,000 after purchasing an additional 161 shares in the last quarter. QRG Capital Management Inc. grew its position in shares of Global Payments by 209.2% during the second quarter. QRG Capital Management Inc. now owns 14,093 shares of the business services provider's stock valued at $1,128,000 after purchasing an additional 9,535 shares in the last quarter. Boyar Asset Management Inc. grew its position in shares of Global Payments by 32.9% during the second quarter. Boyar Asset Management Inc. now owns 12,252 shares of the business services provider's stock valued at $981,000 after purchasing an additional 3,035 shares in the last quarter. Ameritas Advisory Services LLC grew its position in shares of Global Payments by 34.5% during the second quarter. Ameritas Advisory Services LLC now owns 10,886 shares of the business services provider's stock valued at $871,000 after purchasing an additional 2,790 shares in the last quarter. Finally, J. Safra Sarasin Holding AG purchased a new position in shares of Global Payments during the second quarter valued at about $299,000. Hedge funds and other institutional investors own 89.76% of the company's stock.

Global Payments Stock Down 1.5%

Shares of NYSE GPN opened at $87.16 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market cap of $21.15 billion, a P/E ratio of 15.24, a PEG ratio of 0.85 and a beta of 0.98. Global Payments Inc. has a 1 year low of $65.93 and a 1 year high of $120.00. The firm has a 50-day simple moving average of $85.80 and a two-hundred day simple moving average of $82.49.

Global Payments (NYSE:GPN - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The business services provider reported $3.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.06 by $0.04. The business had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.36 billion. Global Payments had a net margin of 15.07% and a return on equity of 12.47%. The firm's quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the firm earned $2.93 earnings per share. Research analysts anticipate that Global Payments Inc. will post 11.89 earnings per share for the current year.

Global Payments Announces Dividend

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

Insider Buying and Selling at Global Payments

In other news, General Counsel Dara L. Steele-Belkin sold 2,000 shares of Global Payments 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. 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 accessible through this link. Corporate insiders own 1.01% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on GPN. Keefe, Bruyette & Woods increased their price target on shares of Global Payments from $81.00 to $85.00 and gave the company a "market perform" rating in a report on Wednesday, July 9th. Royal Bank Of Canada increased their price target on shares of Global Payments from $86.00 to $93.00 and gave the company a "sector perform" rating in a report on Thursday, August 7th. 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 report on Thursday, July 17th. Evercore ISI increased their price target on shares of Global Payments from $85.00 to $90.00 and gave the company an "in-line" rating in a report on Friday, August 8th. Finally, TD Cowen downgraded shares of Global Payments from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 21st. Eight investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $103.75.

Global Payments Company 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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