Wilmington Savings Fund Society FSB Reduces Holdings in Global Payments Inc. $GPN

Key Points

• Wilmington Savings Fund Society FSB reduced its holdings in Global Payments Inc. by 16.5%, owning 35,744 shares valued at approximately $2.86 million after selling 7,088 shares in the second quarter.
• Global Payments reported earnings of $3.10 per share, exceeding analysts' estimates, with a quarterly revenue of $2.36 billion, marking a 1.6% increase year-over-year.
• The company declared a quarterly dividend of $0.25 per share with a yield of 1.2%, reflecting a payout ratio of 17.48%.

Wilmington Savings Fund Society FSB lessened its position in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 16.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,744 shares of the business services provider's stock after selling 7,088 shares during the period. Wilmington Savings Fund Society FSB's holdings in Global Payments were worth $2,861,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in GPN. Brighton Jones LLC purchased a new position in shares of Global Payments during the 4th quarter valued at $725,000. GAMMA Investing LLC lifted its holdings in Global Payments by 76.0% during the 1st quarter. GAMMA Investing LLC now owns 3,728 shares of the business services provider's stock worth $365,000 after purchasing an additional 1,610 shares in the last quarter. CX Institutional purchased a new stake in Global Payments during the 1st quarter worth about $76,000. Exchange Traded Concepts LLC lifted its holdings in Global Payments by 45.7% during the 1st quarter. Exchange Traded Concepts LLC now owns 695 shares of the business services provider's stock worth $68,000 after purchasing an additional 218 shares in the last quarter. Finally, Sowell Financial Services LLC purchased a new stake in Global Payments during the 1st quarter worth about $217,000. Hedge funds and other institutional investors own 89.76% of the company's stock.

Global Payments Price Performance

Shares of NYSE GPN opened at $86.44 on Wednesday. The firm has a market capitalization of $20.97 billion, a P/E ratio of 15.11, a P/E/G ratio of 0.80 and a beta of 0.98. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. The stock's 50-day simple moving average is $86.16 and its two-hundred day simple moving average is $82.08. Global Payments Inc. has a twelve month low of $65.93 and a twelve month high of $120.00.

Global Payments (NYSE:GPN - Get Free Report) last announced 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. 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%.The company's quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.93 EPS. As a group, equities analysts anticipate that Global Payments Inc. will post 11.89 EPS for the current fiscal year.

Global Payments Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 12th were given a dividend of $0.25 per share. The ex-dividend date was Friday, September 12th. This represents a $1.00 annualized dividend and a dividend yield of 1.2%. Global Payments's dividend payout ratio is 17.48%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GPN. TD Cowen cut Global Payments from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 21st. B. Riley reissued a "buy" rating on shares of Global Payments in a report on Wednesday, July 16th. Weiss Ratings reissued a "hold (c-)" rating on shares of Global Payments in a report on Wednesday, October 8th. Keefe, Bruyette & Woods increased their price objective on Global Payments from $81.00 to $85.00 and gave the stock a "market perform" rating in a report on Wednesday, July 9th. Finally, JPMorgan Chase & Co. increased their price objective on Global Payments from $85.00 to $95.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Eight equities research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company's stock. Based on data from MarketBeat, Global Payments currently has an average rating of "Hold" and an average price target of $103.75.

Insider Activity at Global Payments

In other news, General Counsel Dara L. Steele-Belkin sold 2,000 shares of the stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $86.00, for a total transaction of $172,000.00. Following the transaction, the general counsel directly owned 30,713 shares in the company, valued at approximately $2,641,318. This represents a 6.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.01% of the company's stock.

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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