Y Intercept Hong Kong Ltd Acquires New Stake in Global Payments Inc. (NYSE:GPN)

Key Points

• Y Intercept Hong Kong Ltd has acquired a new position in Global Payments Inc. with 5,512 shares valued at approximately $540,000 during the first quarter.
• A significant portion, 89.76%, of Global Payments stock is currently owned by hedge funds and other institutional investors, reflecting strong institutional interest.
• Global Payments shares recently traded down 1.2% to $84.69, with analysts providing a consensus rating of "Hold" and an average target price of $111.65.

Y Intercept Hong Kong Ltd acquired a new position in shares of Global Payments Inc. (NYSE:GPN - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 5,512 shares of the business services provider's stock, valued at approximately $540,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GPN. Optiver Holding B.V. acquired a new position in Global Payments in the 4th quarter valued at about $28,000. NBC Securities Inc. acquired a new position in Global Payments in the 1st quarter valued at about $30,000. Larson Financial Group LLC grew its position in Global Payments by 546.6% in the 1st quarter. Larson Financial Group LLC now owns 375 shares of the business services provider's stock valued at $37,000 after acquiring an additional 317 shares in the last quarter. True Wealth Design LLC purchased a new position in shares of Global Payments in the 4th quarter valued at about $40,000. Finally, Golden State Wealth Management LLC boosted its stake in shares of Global Payments by 4,866.7% in the 1st quarter. Golden State Wealth Management LLC now owns 447 shares of the business services provider's stock valued at $44,000 after buying an additional 438 shares during the period. 89.76% of the stock is owned by institutional investors and hedge funds.

Global Payments Price Performance

GPN stock traded down $1.44 on Tuesday, reaching $83.27. 1,651,671 shares of the company's stock were exchanged, compared to its average volume of 2,813,750. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.66. The firm has a market cap of $20.31 billion, a PE ratio of 13.43, a P/E/G ratio of 0.82 and a beta of 0.94. Global Payments Inc. has a twelve month low of $65.93 and a twelve month high of $120.00. The stock has a fifty day moving average of $78.84 and a 200-day moving average of $89.22.

Global Payments (NYSE:GPN - Get Free Report) last posted its earnings results on Tuesday, May 6th. The business services provider reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.73 by $0.09. The company had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.20 billion. Global Payments had a return on equity of 12.33% and a net margin of 15.48%. Global Payments's revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.59 earnings per share. As a group, equities analysts predict that Global Payments Inc. will post 11.89 EPS for the current fiscal year.

Global Payments Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend was Friday, June 13th. Global Payments's dividend payout ratio (DPR) is presently 16.13%.

Wall Street Analysts Forecast Growth

GPN has been the subject of several recent research reports. Evercore ISI initiated coverage on Global Payments in a research note on Wednesday, April 9th. They issued an "in-line" rating and a $85.00 price objective for the company. Keefe, Bruyette & Woods lifted their price objective on Global Payments from $81.00 to $85.00 and gave the company a "market perform" rating in a research note on Wednesday, July 9th. Wall Street Zen upgraded Global Payments from a "hold" rating to a "buy" rating in a research note on Thursday, May 15th. JPMorgan Chase & Co. decreased their target price on Global Payments from $115.00 to $85.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Finally, Truist Financial boosted their target price on Global Payments from $79.00 to $83.00 and gave the stock a "hold" rating in a research note on Thursday, July 17th. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $111.65.

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.