Meiji Yasuda Asset Management Co Ltd. Decreases Stake in Global Payments Inc. $GPN

Key Points

• Meiji Yasuda Asset Management Co Ltd. significantly reduced its stake in Global Payments Inc. by 77.1%, selling 15,482 shares and leaving it with 4,610 shares valued at approximately $451,000.
• Despite the sell-off by Meiji Yasuda, several institutional investors, including Perigon Wealth Management and Transcend Capital Advisors, increased their holdings in Global Payments during the same period.
• Global Payments recently announced a quarterly dividend of $0.25 scheduled for payment on September 26th, representing an annualized dividend of $1.00 and a yield of 1.2%.

Meiji Yasuda Asset Management Co Ltd. decreased its position in Global Payments Inc. (NYSE:GPN - Free Report) by 77.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,610 shares of the business services provider's stock after selling 15,482 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.'s holdings in Global Payments were worth $451,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in GPN. NBC Securities Inc. bought a new position in shares of Global Payments in the 1st quarter worth approximately $30,000. Larson Financial Group LLC increased its holdings in Global Payments by 546.6% during the first quarter. Larson Financial Group LLC now owns 375 shares of the business services provider's stock valued at $37,000 after buying an additional 317 shares during the last quarter. Zions Bancorporation National Association UT bought a new position in Global Payments in the first quarter worth approximately $37,000. Quarry LP bought a new stake in shares of Global Payments during the 1st quarter valued at $42,000. Finally, Golden State Wealth Management LLC increased its stake in shares of Global Payments by 4,866.7% in the 1st quarter. Golden State Wealth Management LLC now owns 447 shares of the business services provider's stock worth $44,000 after purchasing an additional 438 shares in the last quarter. 89.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Truist Financial lifted their target price on Global Payments from $79.00 to $83.00 and gave the company a "hold" rating in a research report on Thursday, July 17th. Keefe, Bruyette & Woods lifted 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. TD Cowen cut shares of Global Payments from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 21st. Royal Bank Of Canada boosted their price objective on shares of Global Payments from $86.00 to $93.00 and gave the company a "sector perform" rating in a research report on Thursday, August 7th. Finally, JPMorgan Chase & Co. increased their target price on Global Payments from $85.00 to $95.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. Ten investment analysts have rated the stock with a Buy rating and nineteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, Global Payments currently has a consensus rating of "Hold" and a consensus target price of $112.21.

Insider Activity at Global Payments

In related news, General Counsel Dara L. Steele-Belkin sold 2,000 shares of the stock in a transaction dated 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 transaction, the general counsel directly owned 30,713 shares of the company's stock, valued at $2,641,318. This represents a 6.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.01% of the stock is owned by insiders.

Global Payments Price Performance

GPN traded down $1.33 during trading on Friday, hitting $85.35. The company's stock had a trading volume of 1,344,702 shares, compared to its average volume of 1,990,322. The firm has a market capitalization of $20.71 billion, a price-to-earnings ratio of 14.92, a P/E/G ratio of 0.83 and a beta of 0.97. The business's fifty day simple moving average is $84.15 and its 200 day simple moving average is $84.08. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. Global Payments Inc. has a twelve month low of $65.93 and a twelve month high of $120.00.

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 for the quarter, beating analysts' consensus estimates of $3.06 by $0.04. The company had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.36 billion. Global Payments had a return on equity of 12.47% and a net margin of 15.07%.The firm's revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.93 EPS. On average, equities research analysts forecast that Global Payments Inc. will post 11.89 EPS for the current fiscal year.

Global Payments Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be paid 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 currently 17.48%.

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.