Mirae Asset Global Investments Co. Ltd. raised its stake in Global Payments Inc. (NYSE:GPN – Free Report) by 4.6% during the 2nd quarter, Holdings Channel.com reports. The firm owned 364,762 shares of the business services provider’s stock after buying an additional 15,928 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Global Payments were worth $35,722,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors also recently modified their holdings of the company. American Century Companies Inc. boosted its stake in Global Payments by 10.3% in the 1st quarter. American Century Companies Inc. now owns 6,136 shares of the business services provider’s stock valued at $840,000 after purchasing an additional 572 shares during the period. Private Advisor Group LLC boosted its position in shares of Global Payments by 7.7% in the first quarter. Private Advisor Group LLC now owns 3,942 shares of the business services provider’s stock valued at $539,000 after acquiring an additional 281 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Global Payments by 3.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,288,788 shares of the business services provider’s stock valued at $176,366,000 after acquiring an additional 48,605 shares in the last quarter. Vontobel Holding Ltd. increased its position in Global Payments by 259.7% during the first quarter. Vontobel Holding Ltd. now owns 17,285 shares of the business services provider’s stock worth $2,377,000 after acquiring an additional 12,479 shares during the period. Finally, Prudential PLC acquired a new stake in Global Payments in the 1st quarter worth about $766,000. 85.23% of the stock is owned by institutional investors.
Insider Transactions at Global Payments
In related news, insider David Lawrence Green sold 17,920 shares of the business’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $112.53, for a total value of $2,016,537.60. Following the completion of the sale, the insider now directly owns 77,411 shares of the company’s stock, valued at approximately $8,711,059.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Joshua J. Whipple sold 37,096 shares of the company’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $127.28, for a total value of $4,721,578.88. Following the sale, the chief financial officer now owns 39,772 shares in the company, valued at approximately $5,062,180.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David Lawrence Green sold 17,920 shares of the firm’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $112.53, for a total value of $2,016,537.60. Following the completion of the transaction, the insider now owns 77,411 shares in the company, valued at approximately $8,711,059.83. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.
Global Payments Stock Up 0.2 %
Global Payments (NYSE:GPN – Get Free Report) last announced its earnings results on Tuesday, October 31st. The business services provider reported $2.75 earnings per share for the quarter, topping analysts’ consensus estimates of $2.55 by $0.20. Global Payments had a net margin of 9.23% and a return on equity of 11.28%. The business had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.23 billion. During the same quarter last year, the firm earned $2.37 earnings per share. Global Payments’s quarterly revenue was up 8.3% on a year-over-year basis. Equities analysts predict that Global Payments Inc. will post 9.76 EPS for the current year.
Global Payments Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.00 annualized dividend and a dividend yield of 0.89%. Global Payments’s dividend payout ratio is currently 29.94%.
Analysts Set New Price Targets
A number of research analysts have issued reports on GPN shares. Morgan Stanley increased their target price on shares of Global Payments from $144.00 to $146.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 2nd. Truist Financial raised their price objective on Global Payments from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Tuesday, August 22nd. Oppenheimer upped their target price on Global Payments from $130.00 to $131.00 and gave the company an “outperform” rating in a research report on Wednesday, October 18th. Mizuho decreased their price target on Global Payments from $123.00 to $110.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 1st. Finally, Sanford C. Bernstein upped their price objective on shares of Global Payments from $135.00 to $160.00 and gave the stock an “outperform” rating in a research report on Thursday, August 17th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat, Global Payments currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.46.
About Global Payments
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 three segments: Merchant Solutions, Issuer Solutions, and Consumer 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.
- Five stocks we like better than Global Payments
- How to Invest in Tech Stocks and Top Tech Stocks to Consider
- 2 stocks that under-promised and over-delivered on their earnings
- 5 Top Rated Dividend Stocks to Consider
- 2 overlooked stocks that crushed earnings but traded lower
- Overbought Stocks Explained: Should You Trade Them?
- 3 stocks that crushed earnings estimates and still tanked
Receive News & Ratings for Global Payments Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Global Payments and related companies with MarketBeat.com's FREE daily email newsletter.