USS Investment Management Ltd Sells 11,127 Shares of Global Payments Inc. $GPN

Key Points

• USS Investment Management Ltd reduced its holdings in Global Payments Inc. by 19.5%, selling 11,127 shares to own 45,835 shares worth approximately $4.49 million.
• Several institutional investors increased their stakes in Global Payments, with Amundi leading with a 77.5% increase, now holding over 2 million shares valued at about $186 million.
• Global Payments announced a quarterly dividend of $0.25 per share, reflecting an annualized dividend yield of 1.1%, to be paid on September 26th.

USS Investment Management Ltd trimmed its stake in Global Payments Inc. (NYSE:GPN - Free Report) by 19.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 45,835 shares of the business services provider's stock after selling 11,127 shares during the quarter. USS Investment Management Ltd's holdings in Global Payments were worth $4,490,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Pzena Investment Management LLC boosted its holdings in Global Payments by 0.4% in the first quarter. Pzena Investment Management LLC now owns 8,334,097 shares of the business services provider's stock worth $816,075,000 after acquiring an additional 35,251 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Global Payments by 9.8% in the fourth quarter. Janus Henderson Group PLC now owns 2,906,444 shares of the business services provider's stock worth $325,698,000 after acquiring an additional 259,590 shares in the last quarter. Amundi boosted its holdings in Global Payments by 77.5% in the first quarter. Amundi now owns 2,001,585 shares of the business services provider's stock worth $186,107,000 after acquiring an additional 874,175 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Global Payments by 2.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,955,393 shares of the business services provider's stock worth $191,451,000 after acquiring an additional 49,029 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Global Payments by 40.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,656,830 shares of the business services provider's stock worth $185,664,000 after purchasing an additional 479,791 shares during the last quarter. 89.76% of the stock is owned by institutional investors.

Global Payments Stock Performance

Global Payments stock traded down $1.33 during mid-day trading on Friday, reaching $85.35. 1,344,702 shares of the stock traded hands, compared to its average volume of 1,990,322. The stock has a market capitalization of $20.71 billion, a PE ratio of 14.92, a price-to-earnings-growth ratio of 0.83 and a beta of 0.97. 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 12-month low of $65.93 and a 12-month high of $120.00. The business's 50-day moving average is $84.15 and its 200-day moving average is $83.96.

Global Payments (NYSE:GPN - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The business services provider reported $3.10 EPS for the quarter, beating analysts' consensus estimates 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 return on equity of 12.47% and a net margin of 15.07%.Global Payments's revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.93 earnings per share. As a group, sell-side analysts predict that Global Payments Inc. will post 11.89 EPS for the current fiscal year.

Global Payments Announces Dividend

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

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. KeyCorp restated an "overweight" rating and issued a $100.00 price target (up previously from $90.00) on shares of Global Payments in a research note on Thursday, August 7th. B. Riley restated a "buy" rating on shares of Global Payments in a research note on Wednesday, July 16th. JPMorgan Chase & Co. boosted their price target on Global Payments from $85.00 to $95.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. Truist Financial boosted their price target on Global Payments from $79.00 to $83.00 and gave the stock a "hold" rating in a research note on Thursday, July 17th. Finally, Keefe, Bruyette & Woods boosted their price target 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. Ten analysts have rated the stock with a Buy rating and nineteen have issued a Hold rating to the company. According to data from MarketBeat.com, Global Payments has a consensus rating of "Hold" and a consensus price target of $112.21.

Insider Buying and Selling

In other Global Payments news, General Counsel Dara L. Steele-Belkin sold 2,000 shares of the company's stock in a transaction dated 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 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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.01% of the stock is currently owned by 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.