Chevy Chase Trust Holdings LLC Lowers Stake in Global Payments Inc. $GPN

Chevy Chase Trust Holdings LLC lowered its stake in shares of Global Payments Inc. (NYSE:GPN) by 0.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 129,257 shares of the business services provider’s stock after selling 607 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Global Payments were worth $10,346,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in GPN. Pzena Investment Management LLC grew its holdings in shares of Global Payments by 32.6% during the 2nd quarter. Pzena Investment Management LLC now owns 11,050,253 shares of the business services provider’s stock valued at $884,462,000 after purchasing an additional 2,716,156 shares during the last quarter. Nuveen LLC bought a new position in shares of Global Payments during the 1st quarter valued at $94,107,000. Amundi grew its holdings in shares of Global Payments by 77.5% during the 1st quarter. Amundi now owns 2,001,585 shares of the business services provider’s stock valued at $186,107,000 after purchasing an additional 874,175 shares during the last quarter. National Bank of Canada FI grew its holdings in shares of Global Payments by 346.9% during the 1st quarter. National Bank of Canada FI now owns 912,667 shares of the business services provider’s stock valued at $89,368,000 after purchasing an additional 708,451 shares during the last quarter. Finally, Strs Ohio bought a new position in shares of Global Payments during the 1st quarter valued at $66,441,000. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Insider Activity at Global Payments

In other news, General Counsel Dara L. Steele-Belkin sold 2,000 shares of the firm’s stock in a transaction dated Thursday, August 7th. The shares were 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 directly owned 30,713 shares of the company’s stock, valued at approximately $2,641,318. This trade represents a 6.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.01% of the company’s stock.

Global Payments Price Performance

Shares of Global Payments stock opened at $85.40 on Monday. The firm has a market cap of $20.72 billion, a PE ratio of 14.93, a price-to-earnings-growth ratio of 0.82 and a beta of 0.98. Global Payments Inc. has a 12-month low of $65.93 and a 12-month high of $120.00. 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 company’s fifty day simple moving average is $86.30 and its two-hundred day simple moving average is $81.71.

Global Payments (NYSE:GPN) last posted its earnings results on Wednesday, August 6th. The business services provider reported $3.10 EPS for the quarter, topping the consensus estimate of $3.06 by $0.04. Global Payments had a net margin of 15.07% and a return on equity of 12.47%. The firm had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.36 billion. During the same period last year, the company posted $2.93 EPS. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. As a group, equities analysts expect that Global Payments Inc. will post 11.89 EPS for the current year.

Global Payments Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts recently commented on GPN shares. Royal Bank Of Canada increased their target price on shares of Global Payments from $86.00 to $93.00 and gave the company a “sector perform” rating in a report on Thursday, August 7th. TD Cowen lowered shares of Global Payments from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 21st. Truist Financial increased their target price on shares of Global Payments from $79.00 to $83.00 and gave the company a “hold” rating in a report on Thursday, July 17th. Mizuho raised shares of Global Payments from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $86.00 to $114.00 in a report on Friday, July 25th. Finally, Evercore ISI raised their price target on shares of Global Payments from $85.00 to $90.00 and gave the stock an “in-line” rating in a report on Friday, August 8th. Eight equities research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. According to MarketBeat, Global Payments has a consensus rating of “Hold” and an average price target of $103.75.

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 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.