Manning & Napier Advisors LLC Increases Stock Position in Global Payments Inc. $GPN

Manning & Napier Advisors LLC raised its stake in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 31.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 82,680 shares of the business services provider's stock after acquiring an additional 20,000 shares during the period. Manning & Napier Advisors LLC's holdings in Global Payments were worth $5,564,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in GPN. Westpac Banking Corp raised its position in Global Payments by 5,795.1% in the fourth quarter. Westpac Banking Corp now owns 57,182 shares of the business services provider's stock valued at $4,426,000 after purchasing an additional 56,212 shares during the period. Moore Capital Management LP boosted its position in shares of Global Payments by 13.3% during the third quarter. Moore Capital Management LP now owns 231,200 shares of the business services provider's stock worth $19,208,000 after buying an additional 27,200 shares during the period. Invenomic Capital Management LP boosted its position in shares of Global Payments by 11.1% during the third quarter. Invenomic Capital Management LP now owns 681,094 shares of the business services provider's stock worth $56,585,000 after buying an additional 68,071 shares during the period. LSV Asset Management grew its stake in shares of Global Payments by 30.8% in the fourth quarter. LSV Asset Management now owns 448,100 shares of the business services provider's stock valued at $34,683,000 after buying an additional 105,500 shares in the last quarter. Finally, Jain Global LLC acquired a new stake in shares of Global Payments in the third quarter valued at $10,656,000. 89.76% of the stock is owned by hedge funds and other institutional investors.

Global Payments Stock Up 2.1%

Shares of GPN traded up $1.56 during midday trading on Friday, reaching $75.94. The stock had a trading volume of 2,285,325 shares, compared to its average volume of 3,499,438. The company has a market cap of $20.77 billion, a price-to-earnings ratio of -37.22, a PEG ratio of 0.43 and a beta of 0.76. The company's fifty day simple moving average is $70.27 and its two-hundred day simple moving average is $72.03. Global Payments Inc. has a 1-year low of $61.16 and a 1-year high of $90.64. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.79 and a quick ratio of 0.79.

Global Payments (NYSE:GPN - Get Free Report) last issued its earnings results on Wednesday, May 6th. The business services provider reported $2.96 EPS for the quarter, topping analysts' consensus estimates of $2.82 by $0.14. The firm had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.81 billion. Global Payments had a negative net margin of 7.99% and a positive return on equity of 13.11%. The company's revenue was up 63.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.82 earnings per share. Global Payments has set its FY 2026 guidance at 13.800-14.000 EPS. Equities research analysts expect that Global Payments Inc. will post 13.84 earnings per share for the current year.

Global Payments Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Friday, June 12th. Global Payments's dividend payout ratio is currently -49.02%.

Analyst Ratings Changes

Several research firms recently issued reports on GPN. Stephens set a $80.00 target price on Global Payments and gave the stock an "equal weight" rating in a research note on Thursday, May 7th. Zacks Research downgraded Global Payments from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 1st. Argus dropped their target price on Global Payments from $100.00 to $95.00 in a research report on Friday, May 8th. Barclays began coverage on shares of Global Payments in a research note on Wednesday. They set an "equal weight" rating and a $81.00 price target on the stock. Finally, BNP Paribas Exane reduced their price target on shares of Global Payments from $64.00 to $60.00 and set an "underperform" rating on the stock in a research report on Friday, April 10th. Five investment analysts have rated the stock with a Buy rating, nineteen have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Global Payments currently has an average rating of "Hold" and an average target price of $83.33.

About Global Payments

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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