Pzena Investment Management LLC Makes New Investment in Global Payments Inc. $GPN

Key Points

• Pzena Investment Management bought 11.7 million Global Payments shares worth approximately $848.3 million, giving it a 4.27% stake and making GPN its 16th-largest holding. Institutional investors and hedge funds collectively own 89.76% of the company.
• Analyst sentiment is mixed: 10 analysts rate the stock a Buy, 15 a Hold and three a Sell, producing an overall “Hold” rating and an average price target of $90.68.
• Global Payments reported quarterly EPS of $3.46, narrowly beating estimates, while revenue reached $3.16 billion, up 68.6% year over year. The company also declared a quarterly dividend of $0.25 per share, equivalent to a 1.1% annual yield.

Pzena Investment Management LLC purchased a new position in shares of Global Payments Inc. (NYSE:GPN - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 11,691,625 shares of the business services provider's stock, valued at approximately $848,344,000. Global Payments accounts for 2.5% of Pzena Investment Management LLC's holdings, making the stock its 16th largest position. Pzena Investment Management LLC owned about 4.27% of Global Payments as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Gtcr LLC acquired a new position in Global Payments during the 1st quarter worth about $2,911,939,000. Norges Bank acquired a new position in Global Payments in the 4th quarter valued at about $276,014,000. Deutsche Bank AG purchased a new stake in Global Payments during the second quarter worth about $138,781,000. Bank of New York Mellon Corp purchased a new stake in Global Payments during the second quarter worth about $99,702,000. Finally, Balyasny Asset Management L.P. lifted its position in shares of Global Payments by 112.3% during the third quarter. Balyasny Asset Management L.P. now owns 2,281,476 shares of the business services provider's stock worth $189,545,000 after purchasing an additional 1,206,807 shares in the last quarter. 89.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Zacks Research downgraded shares of Global Payments from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 1st. UBS Group started coverage on shares of Global Payments in a research note on Thursday, August 6th. They issued a "buy" rating for the company. Susquehanna set a $111.00 price objective on Global Payments and gave the stock a "positive" rating in a research report on Wednesday, June 3rd. The Goldman Sachs Group increased their price objective on Global Payments from $82.00 to $94.00 and gave the company a "neutral" rating in a research note on Thursday, August 6th. Finally, Royal Bank Of Canada reiterated a "sector perform" rating and issued a $96.00 target price (up from $82.00) on shares of Global Payments in a report on Thursday, August 6th. Ten investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $90.68.

Global Payments Stock Down 2.8%

Shares of Global Payments stock opened at $90.44 on Tuesday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.90. Global Payments Inc. has a 52-week low of $61.16 and a 52-week high of $95.58. The company has a market capitalization of $23.93 billion, a P/E ratio of -30.35, a P/E/G ratio of 0.54 and a beta of 0.74. The company has a 50 day moving average of $77.60 and a 200 day moving average of $73.30.

Global Payments (NYSE:GPN - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The business services provider reported $3.46 EPS for the quarter, beating analysts' consensus estimates of $3.44 by $0.02. Global Payments had a negative net margin of 9.16% and a positive return on equity of 13.80%. The company had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same period in the prior year, the firm posted $3.10 EPS. The company's quarterly revenue was up 68.6% compared to the same quarter last year. Global Payments has set its FY 2026 guidance at 13.600-13.800 EPS. As a group, research analysts forecast that Global Payments Inc. will post 13.67 EPS for the current fiscal year.

Global Payments Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 11th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Friday, September 11th. Global Payments's dividend payout ratio is -33.56%.

About Global Payments

Global Payments Inc NYSE: GPN is a worldwide provider of payment technology and software solutions that enables commerce for merchants, issuers and enterprises. The company develops and operates payment processing networks, point-of-sale systems and cloud-based software that facilitate electronic transactions across in-store, online and mobile channels. Its services span merchant acquiring, payment gateway services, omnichannel commerce platforms, and solutions for recurring and subscription billing.

Global Payments offers a range of products and services including integrated payment terminals and point-of-sale software, e-commerce and gateway technologies, fraud prevention and tokenization tools, and business analytics and reporting.

Want to see what other hedge funds are holding GPN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Global Payments Inc. (NYSE:GPN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source