Landscape Capital Management L.L.C. Grows Position in Global Payments Inc. $GPN

Key Points

• Landscape Capital Management increased its stake in Global Payments Inc. by 24.3% during Q1, now owning 15,942 shares valued at $1.56 million.
• Global Payments declared a quarterly dividend of $0.25, representing a 1.1% yield, with the ex-dividend date set for September 12.
• Analysts maintain a generally positive outlook on Global Payments, with the average target price set at $112.21, despite some downgrades to "hold" ratings.

Landscape Capital Management L.L.C. lifted its stake in Global Payments Inc. (NYSE:GPN - Free Report) by 24.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,942 shares of the business services provider's stock after acquiring an additional 3,119 shares during the quarter. Landscape Capital Management L.L.C.'s holdings in Global Payments were worth $1,561,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Perigon Wealth Management LLC grew its position in Global Payments by 3.8% in the first quarter. Perigon Wealth Management LLC now owns 3,932 shares of the business services provider's stock valued at $385,000 after acquiring an additional 144 shares during the period. Transcend Capital Advisors LLC grew its holdings in Global Payments by 7.9% during the 1st quarter. Transcend Capital Advisors LLC now owns 2,135 shares of the business services provider's stock worth $209,000 after acquiring an additional 157 shares during the period. Pinnacle Associates Ltd. boosted its position in shares of Global Payments by 4.1% in the 1st quarter. Pinnacle Associates Ltd. now owns 4,342 shares of the business services provider's stock worth $425,000 after purchasing an additional 171 shares during the last quarter. Vident Advisory LLC increased its position in shares of Global Payments by 1.7% in the 4th quarter. Vident Advisory LLC now owns 10,382 shares of the business services provider's stock valued at $1,163,000 after buying an additional 172 shares in the last quarter. Finally, WESCAP Management Group Inc. lifted its holdings in Global Payments by 2.5% during the first quarter. WESCAP Management Group Inc. now owns 7,102 shares of the business services provider's stock worth $695,000 after acquiring an additional 176 shares in the last quarter. 89.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GPN has been the subject of several research reports. Truist Financial increased their price objective on shares of Global Payments from $79.00 to $83.00 and gave the stock a "hold" rating in a research report on Thursday, July 17th. JPMorgan Chase & Co. lifted their price target on shares of Global Payments from $85.00 to $95.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Wall Street Zen raised Global Payments from a "hold" rating to a "buy" rating in a research report on Thursday, May 15th. 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 report on Thursday, August 7th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Global Payments from $81.00 to $85.00 and gave the company a "market perform" rating in a research note on Wednesday, July 9th. Ten analysts have rated the stock with a Buy rating, nineteen have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $112.21.

Global Payments Price Performance

Shares of NYSE GPN traded down $0.31 during mid-day trading on Wednesday, reaching $86.68. The company had a trading volume of 1,011,363 shares, compared to its average volume of 2,761,265. Global Payments Inc. has a one year low of $65.93 and a one year high of $120.00. The firm has a market cap of $21.03 billion, a price-to-earnings ratio of 15.15, a PEG ratio of 0.85 and a beta of 0.97. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95. The business's 50-day simple moving average is $83.14 and its 200 day simple moving average is $84.96.

Global Payments (NYSE:GPN - Get Free Report) last issued its earnings results on Wednesday, August 6th. The business services provider reported $3.10 EPS 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 firm had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter in the previous year, the firm earned $2.93 earnings per share. The business's quarterly revenue was up 1.6% on a year-over-year basis. On average, research analysts predict that Global Payments Inc. will post 11.89 earnings per share for the current fiscal year.

Global Payments Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Friday, September 12th. Global Payments's dividend payout ratio (DPR) is presently 17.48%.

Insiders Place Their Bets

In other 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 completion of the sale, 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 through this hyperlink. 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.