OneAscent Investment Solutions LLC Invests $649,000 in Global Payments Inc. $GPN

Key Points

• OneAscent Investment Solutions LLC made a new investment of $649,000 in Global Payments Inc., acquiring 6,630 shares which represents 0.8% of its investment portfolio.
• Global Payments recently reported $3.10 earnings per share, exceeding analysts' expectations, with a year-over-year revenue increase of 1.6%.
• The company declared a quarterly dividend of $0.25 per share, resulting in an annualized yield of 1.2%, with a payout ratio of 17.48%.

OneAscent Investment Solutions LLC acquired a new position in shares of Global Payments Inc. (NYSE:GPN - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,630 shares of the business services provider's stock, valued at approximately $649,000. Global Payments makes up about 0.8% of OneAscent Investment Solutions LLC's investment portfolio, making the stock its 29th largest position.

A number of other institutional investors have also added to or reduced their stakes in the business. Optiver Holding B.V. bought a new position in Global Payments during the 4th quarter worth approximately $28,000. NBC Securities Inc. bought a new position in shares of Global Payments during the first quarter valued at $30,000. True Wealth Design LLC purchased a new stake in Global Payments during the fourth quarter valued at $40,000. Larson Financial Group LLC increased its position 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 acquiring an additional 317 shares during the last quarter. Finally, Zions Bancorporation National Association UT purchased a new stake in Global Payments in the first quarter worth about $37,000. 89.76% of the stock is currently owned by institutional investors.

Insider Activity

In other Global Payments news, General Counsel Dara L. Steele-Belkin sold 2,000 shares of the firm's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $86.00, for a total transaction of $172,000.00. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.01% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on GPN. Mizuho raised Global Payments from a "neutral" rating to an "outperform" rating and increased their price target for the company from $86.00 to $114.00 in a research note on Friday, July 25th. Royal Bank Of Canada raised their price objective on Global Payments from $86.00 to $93.00 and gave the stock a "sector perform" rating in a report on Thursday, August 7th. Truist Financial lifted their price target on Global Payments from $79.00 to $83.00 and gave the company a "hold" rating in a report on Thursday, July 17th. B. Riley reissued a "buy" rating on shares of Global Payments in a research report on Wednesday, July 16th. Finally, UBS Group lifted their price target on Global Payments from $85.00 to $93.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Eleven equities research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $112.21.

Global Payments Stock Up 0.0%

Shares of NYSE GPN traded up $0.0280 during mid-day trading on Tuesday, hitting $86.3980. The company had a trading volume of 563,032 shares, compared to its average volume of 2,804,861. The company has a market capitalization of $20.96 billion, a PE ratio of 15.11, a price-to-earnings-growth ratio of 0.83 and a beta of 0.93. 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 Inc. has a 1-year low of $65.93 and a 1-year high of $120.00. The business's 50-day simple moving average is $80.81 and its 200 day simple moving average is $86.40.

Global Payments (NYSE:GPN - Get Free Report) last posted its earnings results on Wednesday, August 6th. The business services provider reported $3.10 EPS for the quarter, beating the consensus estimate of $3.06 by $0.04. The firm 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%.Global Payments's revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.93 earnings per share. On average, analysts predict that Global Payments Inc. will post 11.89 earnings per share for the current year.

Global Payments Dividend Announcement

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

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.