Patton Fund Management Inc. Makes New $243,000 Investment in Global Payments Inc. $GPN

Key Points

• Patton Fund Management Inc. has made a new investment of $243,000 in Global Payments Inc., acquiring 3,038 shares in the business services provider during the 2nd quarter.
• Various institutional investors have significantly increased their holdings in Global Payments, with 89.76% of the stock now owned by hedge funds and other institutional investors.
• Global Payments reported a 14.76 P/E ratio and a quarterly dividend of $0.25 per share, indicating a yield of 1.2% with a payout ratio of 17.48%.

Patton Fund Management Inc. acquired a new position in shares of Global Payments Inc. (NYSE:GPN - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 3,038 shares of the business services provider's stock, valued at approximately $243,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GPN. SG Americas Securities LLC grew its position in Global Payments by 75,379.7% during the 1st quarter. SG Americas Securities LLC now owns 1,517,141 shares of the business services provider's stock worth $148,558,000 after purchasing an additional 1,515,131 shares in the last quarter. Nuveen LLC purchased a new position in Global Payments during the 1st quarter worth approximately $94,107,000. Amundi grew its position in Global Payments by 77.5% during the 1st quarter. Amundi now owns 2,001,585 shares of the business services provider's stock worth $186,107,000 after purchasing an additional 874,175 shares in the last quarter. National Bank of Canada FI grew its position in Global Payments by 346.9% during the 1st quarter. National Bank of Canada FI now owns 912,667 shares of the business services provider's stock worth $89,368,000 after purchasing an additional 708,451 shares in the last quarter. Finally, Strs Ohio acquired a new stake in shares of Global Payments during the 1st quarter valued at $66,441,000. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, General Counsel Dara L. Steele-Belkin sold 2,000 shares of the business's 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 transaction, the general counsel owned 30,713 shares in the company, valued at approximately $2,641,318. The trade was a 6.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.01% of the stock is currently owned by corporate insiders.

Global Payments Stock Down 0.6%

Global Payments stock opened at $84.43 on Monday. The firm has a market cap of $20.48 billion, a price-to-earnings ratio of 14.76, a P/E/G ratio of 0.80 and a beta of 0.96. 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 fifty-two week low of $65.93 and a fifty-two week high of $120.00. The firm has a fifty day moving average price of $85.15 and a two-hundred day moving average price of $82.93.

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, topping analysts' consensus estimates of $3.06 by $0.04. The firm had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.36 billion. Global Payments had a net margin of 15.07% and a return on equity of 12.47%. The business's revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.93 EPS. As a group, analysts forecast that Global Payments Inc. will post 11.89 earnings per share for the current year.

Global Payments Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were given 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 yield of 1.2%. Global Payments's payout ratio is currently 17.48%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GPN. Truist Financial lifted 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. B. Riley reissued a "buy" rating on shares of Global Payments in a research note on Wednesday, July 16th. UBS Group lifted 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. TD Cowen lowered shares of Global Payments from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 21st. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Global Payments from $81.00 to $85.00 and gave the company a "market perform" rating in a research note on Wednesday, July 9th. Eight research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. According to MarketBeat.com, Global Payments has a consensus rating of "Hold" and an average target price of $103.75.

About Global Payments

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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