Malaga Cove Capital LLC Has $1.46 Million Stake in Global Payments Inc. $GPN

Malaga Cove Capital LLC lifted its position in Global Payments Inc. (NYSE:GPN) by 21.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,267 shares of the business services provider’s stock after buying an additional 3,173 shares during the period. Malaga Cove Capital LLC’s holdings in Global Payments were worth $1,462,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GPN. Pzena Investment Management LLC raised its holdings in shares of Global Payments by 32.6% during the second quarter. Pzena Investment Management LLC now owns 11,050,253 shares of the business services provider’s stock worth $884,462,000 after acquiring an additional 2,716,156 shares during the period. Amundi boosted its position in shares of Global Payments by 77.5% during the first quarter. Amundi now owns 2,001,585 shares of the business services provider’s stock worth $186,107,000 after buying an additional 874,175 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Global Payments by 2.6% during 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 buying an additional 49,029 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Global Payments by 0.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,624,288 shares of the business services provider’s stock valued at $159,050,000 after buying an additional 9,755 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in Global Payments by 6.1% during the 1st quarter. AQR Capital Management LLC now owns 1,458,570 shares of the business services provider’s stock worth $140,402,000 after acquiring an additional 84,285 shares during the last quarter. 89.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on GPN shares. Evercore ISI raised their price objective on Global Payments from $85.00 to $90.00 and gave the company an “in-line” rating in a report on Friday, August 8th. Citigroup upgraded Global Payments to a “strong-buy” rating in a report on Thursday, October 23rd. B. Riley reissued a “buy” rating on shares of Global Payments in a report on Wednesday, July 16th. Royal Bank Of Canada upped their price objective on shares of Global Payments from $93.00 to $95.00 and gave the stock a “sector perform” rating in a research report on Wednesday. Finally, Cowen reiterated a “hold” rating on shares of Global Payments in a research note on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and fourteen have assigned a Hold rating to the company. According to MarketBeat.com, Global Payments has an average rating of “Hold” and a consensus target price of $104.10.

Global Payments Price Performance

GPN stock opened at $76.39 on Friday. 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 firm has a market cap of $18.53 billion, a price-to-earnings ratio of 13.36, a PEG ratio of 0.76 and a beta of 0.95. The company’s fifty day simple moving average is $85.19 and its 200 day simple moving average is $81.75. Global Payments Inc. has a 12-month low of $65.93 and a 12-month high of $120.00.

Global Payments (NYSE:GPN) last issued its quarterly earnings results on Tuesday, November 4th. The business services provider reported $3.26 earnings per share for the quarter, topping analysts’ consensus estimates of $3.23 by $0.03. The firm had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $2.41 billion. Global Payments had a return on equity of 12.47% and a net margin of 15.07%.During the same period last year, the business posted $3.08 EPS. Global Payments has set its FY 2025 guidance at 6.600-6.666 EPS. On average, analysts expect that Global Payments Inc. will post 11.89 earnings per share for the current year.

Global Payments Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 26th. Investors of record on Friday, December 12th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Friday, December 12th. Global Payments’s payout ratio is presently 14.04%.

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.