Robeco Institutional Asset Management B.V. Acquires 135,814 Shares of Global Payments Inc. $GPN

Key Points

• Robeco Institutional Asset Management B.V. increased its holdings in Global Payments Inc. by 456.9% during Q2, owning a total of 165,538 shares worth approximately $13.25 million.
• A recent insider sale by General Counsel Dara L. Steele-Belkin involved the sale of 2,000 shares for $172,000, reducing their stake by 6.11%.
• Global Payments announced a quarterly dividend of $0.25 per share, representing an annual yield of 1.1% with a payout ratio of 17.48%.

Robeco Institutional Asset Management B.V. lifted its holdings in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 456.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 165,538 shares of the business services provider's stock after purchasing an additional 135,814 shares during the period. Robeco Institutional Asset Management B.V. owned about 0.07% of Global Payments worth $13,250,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the business. NBC Securities Inc. purchased a new position in shares of Global Payments in the first quarter worth about $30,000. 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 worth $37,000 after acquiring an additional 317 shares during the last quarter. Zions Bancorporation National Association UT purchased a new position in Global Payments in the 1st quarter worth approximately $37,000. Quarry LP bought a new stake in Global Payments in the first quarter valued at approximately $42,000. Finally, Golden State Wealth Management LLC boosted its stake in shares of Global Payments by 4,866.7% during the first quarter. Golden State Wealth Management LLC now owns 447 shares of the business services provider's stock valued at $44,000 after purchasing an additional 438 shares during the period. 89.76% of the stock is owned by institutional investors.

Insider Activity at Global Payments

In other news, General Counsel Dara L. Steele-Belkin sold 2,000 shares of the business's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $86.00, for a total transaction of $172,000.00. Following the sale, 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.01% of the company's stock.

Global Payments Price Performance

GPN stock opened at $88.00 on Friday. 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 firm has a 50-day moving average of $85.37 and a 200 day moving average of $82.67. The company has a market cap of $21.35 billion, a P/E ratio of 15.38, a PEG ratio of 0.84 and a beta of 0.98.

Global Payments (NYSE:GPN - Get Free Report) last posted 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. Global Payments had a return on equity of 12.47% and a net margin of 15.07%.The firm had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter in the prior year, the business earned $2.93 EPS. The business's revenue for the quarter was up 1.6% on a year-over-year basis. On average, sell-side analysts forecast that Global Payments Inc. will post 11.89 EPS for the current year.

Global Payments Announces Dividend

The company also recently disclosed 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 annualized dividend and a yield of 1.1%. Global Payments's dividend payout ratio (DPR) is currently 17.48%.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Evercore ISI lifted their target price on shares of Global Payments from $85.00 to $90.00 and gave the stock an "in-line" rating in a research note on Friday, August 8th. KeyCorp restated an "overweight" rating and issued a $100.00 price objective (up previously from $90.00) on shares of Global Payments in a research report on Thursday, August 7th. Royal Bank Of Canada upped their price objective on shares of Global Payments from $86.00 to $93.00 and gave the company a "sector perform" rating in a research note on Thursday, August 7th. Keefe, Bruyette & Woods raised their target price on Global Payments from $81.00 to $85.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 9th. Finally, TD Cowen lowered Global Payments from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 21st. Eight research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. According to data from MarketBeat, Global Payments presently has a consensus rating of "Hold" and a consensus price target 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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