LSV Asset Management Lowers Position in Global Payments Inc. (NYSE:GPN)

Key Points

• LSV Asset Management has reduced its stake in Global Payments Inc. by 2.9%, now holding 296,600 shares valued at approximately $29 million.
• A majority of analysts maintain a consensus bullish outlook on Global Payments, with recent upgrades from firms like Mizuho increasing their price target to $114.00.
• Global Payments recently declared a quarterly dividend of $0.25, reflecting a 1.3% dividend yield and a payout ratio of 16.13%.

LSV Asset Management reduced its stake in Global Payments Inc. (NYSE:GPN - Free Report) by 2.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 296,600 shares of the business services provider's stock after selling 8,900 shares during the quarter. LSV Asset Management owned approximately 0.12% of Global Payments worth $29,043,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Banco Bilbao Vizcaya Argentaria S.A. raised its position in Global Payments by 0.4% in the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 33,902 shares of the business services provider's stock valued at $3,795,000 after buying an additional 122 shares during the last quarter. Perigon Wealth Management LLC grew its stake in Global Payments by 3.8% in the 1st quarter. Perigon Wealth Management LLC now owns 3,932 shares of the business services provider's stock valued at $385,000 after purchasing an additional 144 shares during the period. Transcend Capital Advisors LLC grew its stake in Global Payments by 7.9% in the 1st quarter. Transcend Capital Advisors LLC now owns 2,135 shares of the business services provider's stock valued at $209,000 after purchasing an additional 157 shares during the period. Pinnacle Associates Ltd. grew its stake in Global Payments by 4.1% in the 1st quarter. Pinnacle Associates Ltd. now owns 4,342 shares of the business services provider's stock valued at $425,000 after purchasing an additional 171 shares during the period. Finally, Vident Advisory LLC grew its stake in 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 purchasing an additional 172 shares during the period. 89.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Wall Street Zen upgraded Global Payments from a "hold" rating to a "buy" rating in a research note on Thursday, May 15th. Barclays reduced their price objective on Global Payments from $125.00 to $110.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. Citigroup restated a "buy" rating on shares of Global Payments in a research note on Monday, April 21st. Mizuho upgraded Global Payments from a "neutral" rating to an "outperform" rating and upped their price objective for the company from $86.00 to $114.00 in a research note on Friday, July 25th. Finally, Truist Financial upped their price objective on Global Payments from $79.00 to $83.00 and gave the company a "hold" rating in a research note on Thursday, July 17th. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $111.65.

Global Payments Stock Performance

Shares of GPN opened at $78.00 on Monday. The stock's 50-day simple moving average is $79.20 and its 200 day simple moving average is $88.45. The stock has a market capitalization of $19.02 billion, a price-to-earnings ratio of 12.58, a price-to-earnings-growth ratio of 0.75 and a beta of 0.93. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.94 and a current ratio of 0.94. Global Payments Inc. has a 52-week low of $65.93 and a 52-week high of $120.00.

Global Payments (NYSE:GPN - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The business services provider reported $2.82 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.73 by $0.09. The business had revenue of $2.20 billion for the quarter, compared to analysts' expectations of $2.20 billion. Global Payments had a return on equity of 12.33% and a net margin of 15.48%. The firm's quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.59 EPS. Research analysts forecast that Global Payments Inc. will post 11.89 EPS for the current fiscal year.

Global Payments Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.00 annualized dividend and a dividend yield of 1.3%. Global Payments's dividend payout ratio (DPR) is presently 16.13%.

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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