Legal & General Group Plc Raises Holdings in Global Payments Inc. $GPN

Key Points

• Legal & General Group Plc increased its stake in Global Payments by 1.0% in the fourth quarter, buying an additional 16,912 shares. The fund now holds 1,658,880 shares, worth about $128.4 million.
• Global Payments reported stronger-than-expected quarterly results, with EPS of $2.96 versus estimates of $2.82 and revenue of $2.86 billion versus $2.81 billion expected. Revenue also jumped 63.1% year over year.
• Analysts remain mixed to cautious on the stock, with an overall average rating of “Hold” and an average price target of $84.29. The company also announced a quarterly dividend of $0.25 per share, or $1.00 annualized.

Legal & General Group Plc lifted its holdings in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 1.0% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,658,880 shares of the business services provider's stock after acquiring an additional 16,912 shares during the period. Legal & General Group Plc owned approximately 0.70% of Global Payments worth $128,397,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Global Payments by 0.6% during the third quarter. Vanguard Group Inc. now owns 23,542,460 shares of the business services provider's stock worth $1,955,908,000 after acquiring an additional 149,441 shares during the last quarter. Pzena Investment Management LLC grew its stake in shares of Global Payments by 4.6% during the fourth quarter. Pzena Investment Management LLC now owns 11,409,697 shares of the business services provider's stock worth $883,111,000 after acquiring an additional 500,887 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of Global Payments by 7.3% during the third quarter. Ameriprise Financial Inc. now owns 7,349,876 shares of the business services provider's stock worth $610,633,000 after acquiring an additional 499,695 shares during the last quarter. Glenview Capital Management LLC grew its stake in shares of Global Payments by 13.8% during the second quarter. Glenview Capital Management LLC now owns 4,316,892 shares of the business services provider's stock worth $345,524,000 after acquiring an additional 523,209 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Global Payments by 0.7% during the third quarter. Northern Trust Corp now owns 2,630,068 shares of the business services provider's stock worth $218,506,000 after acquiring an additional 18,284 shares during the last quarter. Hedge funds and other institutional investors own 89.76% of the company's stock.

Global Payments Stock Performance

Shares of GPN opened at $73.99 on Friday. The stock has a 50-day moving average of $69.05 and a two-hundred day moving average of $73.52. Global Payments Inc. has a one year low of $62.45 and a one year high of $90.64. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.79 and a current ratio of 0.79. The stock has a market cap of $20.24 billion, a P/E ratio of -36.27, a P/E/G ratio of 0.41 and a beta of 0.75.

Global Payments (NYSE:GPN - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The business services provider reported $2.96 earnings per share for the quarter, beating analysts' consensus estimates of $2.82 by $0.14. The business had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.81 billion. Global Payments had a positive return on equity of 13.11% and a negative net margin of 7.99%.The company's revenue was up 63.1% on a year-over-year basis. During the same quarter last year, the business posted $2.82 EPS. Global Payments has set its FY 2026 guidance at 13.800-14.000 EPS. As a group, research analysts predict that Global Payments Inc. will post 13.89 EPS for the current year.

Global Payments Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 12th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.4%. The ex-dividend date is Friday, June 12th. Global Payments's dividend payout ratio is currently -49.02%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GPN. Truist Financial lowered their price target on Global Payments from $81.00 to $76.00 and set a "hold" rating for the company in a research report on Tuesday, May 19th. Raymond James Financial cut Global Payments from an "outperform" rating to a "market perform" rating in a research report on Thursday, March 26th. The Goldman Sachs Group began coverage on Global Payments in a research report on Monday, March 9th. They set a "hold" rating and a $88.00 price target for the company. Wells Fargo & Company lifted their price target on Global Payments from $103.00 to $105.00 and gave the stock an "overweight" rating in a research report on Thursday, February 19th. Finally, Wall Street Zen raised Global Payments from a "hold" rating to a "buy" rating in a research report on Saturday, May 16th. Four research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $84.29.

Global Payments Company Profile

Global Payments Inc NYSE: GPN is a worldwide provider of payment technology and software solutions that enables commerce for merchants, issuers and enterprises. The company develops and operates payment processing networks, point-of-sale systems and cloud-based software that facilitate electronic transactions across in-store, online and mobile channels. Its services span merchant acquiring, payment gateway services, omnichannel commerce platforms, and solutions for recurring and subscription billing.

Global Payments offers a range of products and services including integrated payment terminals and point-of-sale software, e-commerce and gateway technologies, fraud prevention and tokenization tools, and business analytics and reporting.

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