Swedbank AB Increases Stock Position in Global Payments Inc. $GPN

Key Points

• Swedbank AB has increased its holdings in Global Payments Inc. by 21.9%, owning 51,023 shares valued at approximately $4.08 million as reported in its latest SEC filing.
• A significant number of hedge funds have also increased their positions in Global Payments, with Golden State Wealth Management boosting its stake by 4,866.7% during the first quarter.
• Global Payments recently reported earnings of $3.10 EPS, beating the consensus estimate, and announced a quarterly dividend of $0.25, reflecting a dividend yield of 1.2%.

Swedbank AB raised its holdings in Global Payments Inc. (NYSE:GPN - Free Report) by 21.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,023 shares of the business services provider's stock after buying an additional 9,164 shares during the period. Swedbank AB's holdings in Global Payments were worth $4,084,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Byrne Asset Management LLC purchased a new position in shares of Global Payments during the second quarter worth about $81,000. Czech National Bank grew its holdings in shares of Global Payments by 4.8% during the second quarter. Czech National Bank now owns 59,612 shares of the business services provider's stock worth $4,771,000 after purchasing an additional 2,739 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Global Payments by 5.5% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 3,027 shares of the business services provider's stock worth $242,000 after purchasing an additional 158 shares during the last quarter. Parallel Advisors LLC grew its holdings in shares of Global Payments by 36.7% during the second quarter. Parallel Advisors LLC now owns 1,292 shares of the business services provider's stock worth $103,000 after purchasing an additional 347 shares during the last quarter. Finally, Salem Investment Counselors Inc. grew its holdings in shares of Global Payments by 7.6% during the second quarter. Salem Investment Counselors Inc. now owns 8,896 shares of the business services provider's stock worth $712,000 after purchasing an additional 625 shares during the last quarter. 89.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Global Payments news, General Counsel Dara L. Steele-Belkin sold 2,000 shares of Global Payments stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $86.00, for a total value of $172,000.00. Following the completion of the sale, the general counsel directly owned 30,713 shares of the company's stock, valued at approximately $2,641,318. The trade was a 6.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.01% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on GPN. Royal Bank Of Canada raised their price objective on Global Payments from $86.00 to $93.00 and gave the stock a "sector perform" rating in a report on Thursday, August 7th. Truist Financial raised their price target on Global Payments from $79.00 to $83.00 and gave the stock a "hold" rating in a report on Thursday, July 17th. B. Riley reissued a "buy" rating on shares of Global Payments in a report on Wednesday, July 16th. KeyCorp reissued an "overweight" rating and set a $100.00 price target (up previously from $90.00) on shares of Global Payments in a report on Thursday, August 7th. Finally, Keefe, Bruyette & Woods raised their price target on Global Payments from $81.00 to $85.00 and gave the stock a "market perform" rating in a report on Wednesday, July 9th. Nine research analysts have rated the stock with a Buy rating and nineteen have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $110.70.

Global Payments Price Performance

Shares of Global Payments stock traded up $0.31 during trading on Monday, hitting $86.86. 3,095,874 shares of the company were exchanged, compared to its average volume of 2,189,419. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. Global Payments Inc. has a fifty-two week low of $65.93 and a fifty-two week high of $120.00. The stock has a market capitalization of $21.07 billion, a price-to-earnings ratio of 15.19, a P/E/G ratio of 0.83 and a beta of 0.96. The firm has a 50 day moving average price of $84.66 and a 200 day moving average price of $83.25.

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 firm 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%. Global Payments's revenue for the quarter was up 1.6% on a year-over-year basis. During the same period in the previous year, the company earned $2.93 EPS. On average, equities analysts expect that Global Payments Inc. will post 11.89 earnings per share for the current fiscal year.

Global Payments Announces Dividend

The company also recently announced 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. This represents a $1.00 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, September 12th. Global Payments's payout ratio is presently 17.48%.

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.