Legal & General Group Plc Buys Shares of 1,654,302 Global Payments Inc. $GPN

Legal & General Group Plc purchased a new position in shares of Global Payments Inc. (NYSE:GPN) in the 2nd quarter, Holdings Channel reports. The firm purchased 1,654,302 shares of the business services provider’s stock, valued at approximately $120,036,000.

A number of other institutional investors also recently made changes to their positions in the stock. Brighton Jones LLC purchased a new stake in shares of Global Payments in the fourth quarter valued at $725,000. Caxton Associates LLP purchased a new stake in Global Payments during the 1st quarter worth about $243,000. Intech Investment Management LLC increased its position in Global Payments by 43.5% during the 1st quarter. Intech Investment Management LLC now owns 14,462 shares of the business services provider’s stock worth $1,416,000 after purchasing an additional 4,386 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in Global Payments by 7.3% in the 2nd quarter. Daiwa Securities Group Inc. now owns 41,577 shares of the business services provider’s stock valued at $3,327,000 after purchasing an additional 2,840 shares during the last quarter. Finally, AXA S.A. raised its stake in Global Payments by 236.6% in the 2nd quarter. AXA S.A. now owns 28,622 shares of the business services provider’s stock valued at $2,291,000 after purchasing an additional 20,119 shares during the last quarter. 89.76% of the stock is owned by institutional investors and hedge funds.

Global Payments Trading Down 0.4%

GPN stock opened at $92.62 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.90. The company has a market cap of $24.51 billion, a price-to-earnings ratio of -31.08, a PEG ratio of 0.54 and a beta of 0.74. The business has a fifty day simple moving average of $81.86 and a 200-day simple moving average of $74.52. Global Payments Inc. has a 52 week low of $61.16 and a 52 week high of $95.88.

Global Payments (NYSE:GPN) last issued its earnings results on Wednesday, August 5th. The business services provider reported $3.46 earnings per share for the quarter, beating analysts’ consensus estimates of $3.44 by $0.02. Global Payments had a positive return on equity of 13.80% and a negative net margin of 9.16%.The firm had revenue of $3.16 billion for the quarter, compared to analysts’ expectations of $3.16 billion. During the same quarter last year, the firm earned $3.10 earnings per share. The firm’s revenue for the quarter was up 68.6% compared to the same quarter last year. Global Payments has set its FY 2026 guidance at 13.600-13.800 EPS. On average, equities research analysts expect that Global Payments Inc. will post 13.66 EPS for the current year.

Global Payments Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, September 11th. Global Payments’s payout ratio is currently -33.56%.

Analyst Upgrades and Downgrades

GPN has been the topic of several analyst reports. Truist Financial raised their price target on shares of Global Payments from $79.00 to $95.00 and gave the stock a “hold” rating in a research note on Tuesday. TD Cowen boosted their price objective on shares of Global Payments from $90.00 to $95.00 and gave the company a “hold” rating in a research report on Wednesday. Rothschild & Co Redburn reduced their price objective on shares of Global Payments from $70.00 to $60.00 and set a “sell” rating on the stock in a research note on Tuesday, May 12th. Wolfe Research restated an “outperform” rating and set a $125.00 target price (up from $110.00) on shares of Global Payments in a research report on Tuesday. Finally, Citigroup reaffirmed a “buy” rating on shares of Global Payments in a research note on Thursday, August 6th. Nine analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $92.36.

About Global Payments

Global Payments Inc (NYSE: GPN) is a worldwide provider of payment technology and software solutions that enables commerce for merchants, issuers and enterprises. The company develops and operates payment processing networks, point-of-sale systems and cloud-based software that facilitate electronic transactions across in-store, online and mobile channels. Its services span merchant acquiring, payment gateway services, omnichannel commerce platforms, and solutions for recurring and subscription billing.

Global Payments offers a range of products and services including integrated payment terminals and point-of-sale software, e-commerce and gateway technologies, fraud prevention and tokenization tools, and business analytics and reporting.