Strs Ohio Purchases New Shares in Global Payments Inc. $GPN

Key Points

• Strs Ohio has acquired a new stake in Global Payments Inc., purchasing 678,525 shares valued at approximately $66.4 million.
• Global Payments reported $3.10 earnings per share for the last quarter, slightly exceeding analyst expectations and indicating a 1.6% year-over-year revenue increase.
• The company recently announced a quarterly $0.25 dividend, translating to an annualized dividend of $1.00 and a yield of 1.2%.

Strs Ohio purchased a new stake in Global Payments Inc. (NYSE:GPN - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 678,525 shares of the business services provider's stock, valued at approximately $66,441,000. Strs Ohio owned 0.28% of Global Payments as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC purchased a new stake in shares of Global Payments during the 4th quarter worth about $725,000. Cetera Investment Advisers lifted its position in shares of Global Payments by 7.5% during the 4th quarter. Cetera Investment Advisers now owns 25,738 shares of the business services provider's stock worth $2,884,000 after buying an additional 1,798 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Global Payments by 4.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 123,027 shares of the business services provider's stock worth $13,786,000 after buying an additional 4,685 shares during the period. OMERS ADMINISTRATION Corp lifted its position in shares of Global Payments by 19.5% during the 4th quarter. OMERS ADMINISTRATION Corp now owns 10,807 shares of the business services provider's stock worth $1,211,000 after buying an additional 1,765 shares during the period. Finally, NorthRock Partners LLC bought a new position in shares of Global Payments during the 4th quarter worth approximately $251,000. Institutional investors and hedge funds own 89.76% of the company's stock.

Global Payments Stock Performance

GPN opened at $85.19 on Thursday. Global Payments Inc. has a 52-week low of $65.93 and a 52-week high of $120.00. The firm has a market capitalization of $20.67 billion, a PE ratio of 14.89, a PEG ratio of 0.83 and a beta of 0.97. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95. The business's 50-day simple moving average is $83.98 and its 200 day simple moving average is $84.32.

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 (EPS) for the quarter, topping the consensus estimate of $3.06 by $0.04. The business 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 was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.93 earnings per share. As a group, sell-side analysts expect that Global Payments Inc. will post 11.89 earnings per share for the current fiscal year.

Global Payments Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders 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 annualized dividend and a yield of 1.2%. Global Payments's dividend payout ratio is currently 17.48%.

Wall Street Analysts Forecast Growth

GPN has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their target price on Global Payments from $85.00 to $95.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Evercore ISI boosted their target price on Global Payments from $85.00 to $90.00 and gave the company an "in-line" rating in a research note on Friday, August 8th. Truist Financial boosted their target price on Global Payments from $79.00 to $83.00 and gave the company a "hold" rating in a research note on Thursday, July 17th. Royal Bank Of Canada boosted their target price on Global Payments from $86.00 to $93.00 and gave the company a "sector perform" rating in a research note on Thursday, August 7th. Finally, Wall Street Zen raised Global Payments from a "hold" rating to a "buy" rating in a research note on Thursday, May 15th. Ten analysts have rated the stock with a Buy rating and nineteen have assigned a Hold rating to the company. According to MarketBeat.com, Global Payments currently has an average rating of "Hold" and a consensus price target of $112.21.

Insider Transactions at Global Payments

In other Global Payments news, General Counsel Dara L. Steele-Belkin sold 2,000 shares of the company's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $86.00, for a total value of $172,000.00. Following the sale, the general counsel owned 30,713 shares in the company, valued at $2,641,318. This represents a 6.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.01% of the stock is owned by corporate insiders.

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.

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