Mirae Asset Global Investments Co. Ltd. Sells 68,195 Shares of Global Payments Inc. $GPN

Mirae Asset Global Investments Co. Ltd. decreased its position in Global Payments Inc. (NYSE:GPN - Free Report) by 70.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 28,745 shares of the business services provider's stock after selling 68,195 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Global Payments were worth $2,301,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in GPN. Golden State Wealth Management LLC grew its holdings in Global Payments by 4,866.7% during the 1st quarter. Golden State Wealth Management LLC now owns 447 shares of the business services provider's stock worth $44,000 after acquiring an additional 438 shares during the last quarter. Tradewinds LLC. bought a new stake in Global Payments during the 1st quarter worth about $685,000. Argyle Capital Management LLC grew its holdings in Global Payments by 114.4% during the 1st quarter. Argyle Capital Management LLC now owns 18,305 shares of the business services provider's stock worth $1,792,000 after acquiring an additional 9,768 shares during the last quarter. Malaga Cove Capital LLC grew its holdings in Global Payments by 85.0% during the 1st quarter. Malaga Cove Capital LLC now owns 15,094 shares of the business services provider's stock worth $1,478,000 after acquiring an additional 6,933 shares during the last quarter. Finally, Teacher Retirement System of Texas grew its holdings in Global Payments by 1,828.3% during the 1st quarter. Teacher Retirement System of Texas now owns 45,932 shares of the business services provider's stock worth $4,498,000 after acquiring an additional 43,550 shares during the last quarter. Institutional investors own 89.76% of the company's stock.

Global Payments Price Performance

NYSE:GPN opened at $88.55 on Thursday. Global Payments Inc. has a 1-year low of $65.93 and a 1-year high of $120.00. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. The firm has a fifty day simple moving average of $85.66 and a 200 day simple moving average of $82.58. The stock has a market capitalization of $21.48 billion, a PE ratio of 15.48, a P/E/G ratio of 0.84 and a beta of 0.98.

Global Payments (NYSE:GPN - Get Free Report) last released its earnings results on Wednesday, August 6th. The business services provider reported $3.10 earnings per share for the quarter, beating the consensus estimate of $3.06 by $0.04. Global Payments had a net margin of 15.07% and a return on equity of 12.47%. The business had revenue of $2.36 billion during the quarter, compared to analysts' expectations of $2.36 billion. During the same period last year, the business earned $2.93 earnings per share. The firm's revenue was up 1.6% on a year-over-year basis. On average, research analysts expect that Global Payments Inc. will post 11.89 EPS for the current fiscal year.

Global Payments Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 12th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, September 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.1%. Global Payments's dividend payout ratio (DPR) is currently 17.48%.

Analyst Ratings Changes

Several brokerages have recently issued reports on GPN. JPMorgan Chase & Co. raised their target price 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. UBS Group raised their target price on shares of Global Payments from $85.00 to $93.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Global Payments in a research note on Wednesday. Truist Financial raised their target price on shares of Global Payments from $79.00 to $83.00 and gave the company a "hold" rating in a research note on Thursday, July 17th. Finally, Mizuho raised shares of Global Payments from a "neutral" rating to an "outperform" rating and raised their target price for the company from $86.00 to $114.00 in a research note on Friday, July 25th. Eight research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $103.75.

Insider Buying and Selling at Global Payments

In other news, General Counsel Dara L. Steele-Belkin sold 2,000 shares of Global Payments stock in a transaction 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 of the company's stock, valued at approximately $2,641,318. This trade represents a 6.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate 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.

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