Texas Permanent School Fund Corp Lowers Holdings in Global Payments Inc. $GPN

Texas Permanent School Fund Corp decreased its holdings in Global Payments Inc. (NYSE:GPN) by 35.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,880 shares of the business services provider’s stock after selling 9,271 shares during the period. Texas Permanent School Fund Corp’s holdings in Global Payments were worth $1,351,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Pettee Investors Inc. boosted its position in shares of Global Payments by 24.1% during the second quarter. Pettee Investors Inc. now owns 15,672 shares of the business services provider’s stock worth $1,254,000 after acquiring an additional 3,040 shares during the last quarter. Saiph Capital LLC bought a new stake in Global Payments in the 2nd quarter valued at $7,269,000. Sound Income Strategies LLC lifted its stake in Global Payments by 7.9% in the 2nd quarter. Sound Income Strategies LLC now owns 60,905 shares of the business services provider’s stock worth $4,875,000 after purchasing an additional 4,478 shares in the last quarter. Entropy Technologies LP purchased a new stake in Global Payments in the 2nd quarter worth $2,448,000. Finally, Kempner Capital Management Inc. bought a new position in shares of Global Payments during the 2nd quarter valued at about $6,233,000. Institutional investors own 89.76% of the company’s stock.

Global Payments Stock Down 1.4%

NYSE:GPN opened at $80.13 on Wednesday. The company has a market cap of $18.97 billion, a price-to-earnings ratio of 11.25, a price-to-earnings-growth ratio of 0.77 and a beta of 0.82. Global Payments Inc. has a twelve month low of $65.93 and a twelve month high of $115.19. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.57. The stock has a fifty day simple moving average of $79.29 and a 200-day simple moving average of $81.93.

Global Payments (NYSE:GPN) last posted its quarterly earnings results on Tuesday, November 4th. The business services provider reported $3.26 EPS for the quarter, topping the consensus estimate of $3.23 by $0.03. Global Payments had a net margin of 19.68% and a return on equity of 12.66%. The company had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same quarter last year, the firm posted $3.08 EPS. Global Payments has set its FY 2025 guidance at 6.600-6.666 EPS. Analysts anticipate that Global Payments Inc. will post 11.89 EPS for the current year.

Global Payments Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 26th. Stockholders of record on Friday, December 12th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, December 12th. Global Payments’s payout ratio is currently 14.04%.

Insider Buying and Selling

In other Global Payments news, EVP David M. Sheffield sold 2,016 shares of the company’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $81.41, for a total value of $164,122.56. Following the completion of the sale, the executive vice president directly owned 14,438 shares in the company, valued at approximately $1,175,397.58. This represents a 12.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David Lawrence Green sold 11,600 shares of the firm’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $79.99, for a total value of $927,884.00. Following the transaction, the insider owned 68,096 shares in the company, valued at approximately $5,446,999.04. This represents a 14.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have purchased 14,723 shares of company stock valued at $1,186,772 and have sold 18,080 shares valued at $1,439,350. 1.01% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Wells Fargo & Company raised Global Payments to a “strong-buy” rating in a report on Wednesday, October 22nd. KeyCorp cut shares of Global Payments from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, October 22nd. Truist Financial lowered their price objective on shares of Global Payments from $90.00 to $84.00 and set a “hold” rating for the company in a research report on Thursday, November 13th. Evercore ISI reduced their target price on shares of Global Payments from $90.00 to $85.00 in a report on Tuesday, November 11th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Global Payments in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $102.29.

Global Payments Profile

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.