Resona Asset Management Co. Ltd. Grows Stake in Global Payments Inc. $GPN

Key Points

• Resona Asset Management Co. Ltd. increased its holdings in Global Payments Inc. by 5.1%, now owning 78,402 shares valued at approximately $7.67 million.
• Analyst ratings show a mix of positions, with one sell rating, 18 hold ratings, and 12 buy ratings, contributing to a consensus rating of "Hold" with an average target price of $112.21.
• Global Payments announced a quarterly dividend of $0.25 per share, representing a 1.2% yield, to be paid on September 26th to shareholders of record on September 12th.

Resona Asset Management Co. Ltd. lifted its stake in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 5.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 78,402 shares of the business services provider's stock after acquiring an additional 3,817 shares during the period. Resona Asset Management Co. Ltd.'s holdings in Global Payments were worth $7,672,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. Optiver Holding B.V. acquired a new stake in shares of Global Payments during the 4th quarter worth approximately $28,000. NBC Securities Inc. purchased a new stake in shares of Global Payments in the 1st quarter valued at $30,000. Larson Financial Group LLC lifted its stake 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 worth $37,000 after acquiring an additional 317 shares in the last quarter. Zions Bancorporation National Association UT acquired a new position in Global Payments in the 1st quarter valued at about $37,000. Finally, True Wealth Design LLC purchased a new stake in Global Payments during the fourth quarter worth about $40,000. Hedge funds and other institutional investors own 89.76% of the company's stock.

Global Payments Stock Performance

NYSE:GPN traded down $0.0260 during midday trading on Tuesday, reaching $86.3440. The stock had a trading volume of 507,605 shares, compared to its average volume of 2,804,479. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. The stock has a market cap of $20.95 billion, a P/E ratio of 15.09, a P/E/G ratio of 0.83 and a beta of 0.93. The firm has a fifty day simple moving average of $80.81 and a two-hundred day simple moving average of $86.40. Global Payments Inc. has a 12-month low of $65.93 and a 12-month high of $120.00.

Global Payments (NYSE:GPN - Get Free Report) last released its earnings results on Wednesday, August 6th. The business services provider reported $3.10 EPS for the quarter, topping the consensus estimate of $3.06 by $0.04. The company had revenue of $2.36 billion during the quarter, compared to analysts' expectations 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 last year, the business earned $2.93 EPS. On average, equities analysts expect that Global Payments Inc. will post 11.89 EPS for the current year.

Global Payments Dividend Announcement

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

Insider Buying and Selling at Global Payments

In related news, General Counsel Dara L. Steele-Belkin sold 2,000 shares of the company's 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 transaction, the general counsel owned 30,713 shares of the company's stock, valued at $2,641,318. This represents a 6.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.01% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

GPN has been the topic of a number of recent research reports. Cowen lowered shares of Global Payments from a "buy" rating to a "hold" rating in a research note on Monday, April 21st. Citigroup reaffirmed a "buy" rating on shares of Global Payments in a research report on Monday, April 21st. B. Riley reissued a "buy" rating on shares of Global Payments in a report on Wednesday, July 16th. Robert W. Baird lowered their price objective on Global Payments from $145.00 to $100.00 and set an "outperform" rating for the company in a research report on Monday, April 21st. Finally, Wells Fargo & Company cut their target price on Global Payments from $105.00 to $77.00 and set an "equal weight" rating on the stock in a research report on Monday, April 21st. Eleven research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $112.21.

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.