Nuveen LLC Buys Shares of 961,056 Global Payments Inc. (NYSE:GPN)

Key Points

• Nuveen LLC has acquired 961,056 shares of Global Payments Inc., valued at approximately $94.1 million, representing about 0.39% of the company's stock as of the latest SEC filing.
• Global Payments recently reported earnings of $3.10 EPS, exceeding estimates, with revenue of $2.36 billion, which is a 1.6% increase compared to the same quarter last year.
• The company declared a quarterly dividend of $0.25 per share, which will be paid on September 26th, reflecting an annualized dividend yield of 1.2%.

Nuveen LLC bought a new position in Global Payments Inc. (NYSE:GPN - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 961,056 shares of the business services provider's stock, valued at approximately $94,107,000. Nuveen LLC owned 0.39% of Global Payments at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Optiver Holding B.V. purchased a new stake in Global Payments during the 4th quarter valued at about $28,000. NBC Securities Inc. purchased a new stake in Global Payments during the 1st quarter valued at about $30,000. True Wealth Design LLC purchased a new stake in Global Payments during the 4th quarter valued at about $40,000. Larson Financial Group LLC grew its position in Global Payments by 546.6% during the 1st quarter. Larson Financial Group LLC now owns 375 shares of the business services provider's stock valued at $37,000 after purchasing an additional 317 shares during the last quarter. Finally, Zions Bancorporation National Association UT purchased a new stake in Global Payments during the 1st quarter valued at about $37,000. 89.76% of the stock is owned by hedge funds and other institutional investors.

Global Payments Trading Down 0.4%

Shares of NYSE:GPN traded down $0.36 on Friday, hitting $86.83. 2,167,859 shares of the company's stock were exchanged, compared to its average volume of 2,824,391. Global Payments Inc. has a 12 month low of $65.93 and a 12 month high of $120.00. The stock has a market capitalization of $21.07 billion, a price-to-earnings ratio of 15.18, a price-to-earnings-growth ratio of 0.83 and a beta of 0.93. The business's 50 day simple moving average is $80.47 and its two-hundred day simple moving average is $87.10. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95.

Global Payments (NYSE:GPN - Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.36 billion. Global Payments had a return on equity of 12.47% and a net margin of 15.07%. The firm's quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.93 earnings per share. Analysts anticipate that Global Payments Inc. will post 11.89 EPS for the current fiscal year.

Global Payments Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Friday, September 12th. Global Payments's payout ratio is presently 17.48%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on GPN. UBS Group upped 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. Robert W. Baird lowered their price objective on shares of Global Payments from $145.00 to $100.00 and set an "outperform" rating on the stock in a research note on Monday, April 21st. Wall Street Zen upgraded shares of Global Payments from a "hold" rating to a "buy" rating in a research report on Thursday, May 15th. Citigroup restated a "buy" rating on shares of Global Payments in a research report on Monday, April 21st. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Global Payments from $81.00 to $85.00 and gave the company a "market perform" rating in a research report on Wednesday, July 9th. One research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $112.21.

Insider Buying and Selling at Global Payments

In related news, General Counsel Dara L. Steele-Belkin sold 2,000 shares of Global Payments stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $86.00, for a total value of $172,000.00. Following the completion of the sale, the general counsel directly owned 30,713 shares in the company, valued at $2,641,318. The trade was a 6.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.01% of the stock is owned by insiders.

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.