US Bancorp DE Sells 4,370 Shares of Global Payments Inc. $GPN

Key Points

• US Bancorp DE has reduced its holdings in Global Payments Inc. by 10.1%, selling 4,370 shares and holding 39,060 shares worth approximately $3.13 million at the end of the second quarter.
• Analysts remain optimistic about Global Payments, with several firms raising their price targets, and a consensus price target of $103.75 among analysts, indicating a generally bullish outlook.
• Global Payments has declared a quarterly dividend of $0.25 per share, translating to an annualized yield of approximately 1.2%, reflecting a strong dividend payout ratio of 17.48%.

US Bancorp DE trimmed its holdings in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 10.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,060 shares of the business services provider's stock after selling 4,370 shares during the period. US Bancorp DE's holdings in Global Payments were worth $3,126,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Larson Financial Group LLC increased its holdings in Global Payments by 546.6% in the first quarter. Larson Financial Group LLC now owns 375 shares of the business services provider's stock valued at $37,000 after purchasing an additional 317 shares during the last quarter. Zions Bancorporation National Association UT bought a new stake in Global Payments in the first quarter valued at about $37,000. Quarry LP bought a new stake in Global Payments in the first quarter valued at approximately $42,000. Golden State Wealth Management LLC increased its stake in Global Payments by 4,866.7% in 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 in the last quarter. Finally, TFC Financial Management Inc. increased its stake in Global Payments by 9,580.0% in the first quarter. TFC Financial Management Inc. now owns 484 shares of the business services provider's stock valued at $47,000 after purchasing an additional 479 shares in the last quarter. 89.76% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Global Payments news, General Counsel Dara L. Steele-Belkin sold 2,000 shares of the firm'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 completion of the transaction, the general counsel directly owned 30,713 shares in the company, valued at $2,641,318. This trade represents a 6.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.01% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on GPN shares. Truist Financial upped their target price on shares of Global Payments from $79.00 to $83.00 and gave the company a "hold" rating in a research note on Thursday, July 17th. JPMorgan Chase & Co. increased their price target on Global Payments from $85.00 to $95.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. TD Cowen downgraded Global Payments from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 21st. Royal Bank Of Canada increased their price target on Global Payments from $86.00 to $93.00 and gave the stock a "sector perform" rating in a report on Thursday, August 7th. Finally, Keefe, Bruyette & Woods increased 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. Eight investment analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $103.75.

Global Payments Stock Up 2.6%

Global Payments stock opened at $86.44 on Wednesday. The company has a market cap of $20.97 billion, a P/E ratio of 15.11, a price-to-earnings-growth ratio of 0.80 and a beta of 0.98. Global Payments Inc. has a 1-year low of $65.93 and a 1-year high of $120.00. The company has a fifty day simple moving average of $86.16 and a 200 day simple moving average of $82.08. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61.

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 for the quarter, beating analysts' consensus estimates of $3.06 by $0.04. The business had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.36 billion. Global Payments had a net margin of 15.07% and a return on equity of 12.47%. The firm's revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter last year, the firm earned $2.93 earnings per share. Research analysts anticipate that Global Payments Inc. will post 11.89 earnings per share for the current fiscal year.

Global Payments Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Friday, September 12th. Global Payments's dividend payout ratio (DPR) is currently 17.48%.

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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