ProShare Advisors LLC Has $4.32 Million Position in Global Payments Inc. $GPN

ProShare Advisors LLC lowered its holdings in Global Payments Inc. (NYSE:GPN) by 6.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,953 shares of the business services provider’s stock after selling 4,015 shares during the period. ProShare Advisors LLC’s holdings in Global Payments were worth $4,318,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. LRI Investments LLC lifted its stake in Global Payments by 53.4% in the 2nd quarter. LRI Investments LLC now owns 382 shares of the business services provider’s stock worth $31,000 after acquiring an additional 133 shares in the last quarter. Larson Financial Group LLC increased its holdings in shares of 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 purchasing an additional 317 shares during the period. Zions Bancorporation National Association UT purchased a new stake in shares of Global Payments in the first quarter worth approximately $37,000. Quarry LP acquired a new stake in shares of Global Payments during the first quarter worth approximately $42,000. Finally, WPG Advisers LLC purchased a new position in Global Payments during the first quarter valued at approximately $49,000. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on GPN shares. Mizuho upgraded shares of Global Payments from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $86.00 to $114.00 in a research report on Friday, July 25th. Wells Fargo & Company raised shares of Global Payments to a “strong-buy” rating in a research note on Wednesday, October 22nd. Raymond James Financial reissued an “outperform” rating and set a $105.00 price objective on shares of Global Payments in a research report on Tuesday, November 4th. Citigroup upgraded Global Payments to a “strong-buy” rating in a research note on Thursday, October 23rd. Finally, Truist Financial cut their price target on Global Payments from $90.00 to $84.00 and set a “hold” rating for the company in a research note on Thursday. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and fourteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, Global Payments has a consensus rating of “Hold” and a consensus price target of $103.90.

Insider Buying and Selling

In other news, Director Connie D. Mcdaniel sold 4,464 shares of the business’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $77.81, for a total value of $347,343.84. Following the completion of the sale, the director directly owned 30,014 shares in the company, valued at approximately $2,335,389.34. The trade was a 12.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Patricia A. Watson acquired 1,331 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The shares were purchased at an average cost of $75.06 per share, with a total value of $99,904.86. Following the completion of the acquisition, the director owned 2,651 shares in the company, valued at $198,984.06. This trade represents a 100.83% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 1.01% of the company’s stock.

Global Payments Trading Down 1.8%

Global Payments stock opened at $74.12 on Friday. Global Payments Inc. has a one year low of $65.93 and a one year high of $120.00. The company’s fifty day moving average price is $83.77 and its two-hundred day moving average price is $81.93. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market capitalization of $17.55 billion, a price-to-earnings ratio of 12.96, a PEG ratio of 0.76 and a beta of 0.95.

Global Payments (NYSE:GPN) last released its quarterly earnings results on Tuesday, November 4th. The business services provider reported $3.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.23 by $0.03. The company had revenue of $2.43 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 quarter in the prior year, the company posted $3.08 EPS. Global Payments has set its FY 2025 guidance at 6.600-6.666 EPS. On average, analysts forecast that Global Payments Inc. will post 11.89 earnings per share for the current fiscal year.

Global Payments Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 26th. Shareholders of record on Friday, December 12th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.3%. The ex-dividend date is Friday, December 12th. Global Payments’s dividend payout ratio (DPR) is 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.