California Public Employees Retirement System Has $35.83 Million Stake in Global Payments Inc. $GPN

California Public Employees Retirement System increased its position in Global Payments Inc. (NYSE:GPN) by 4.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 447,648 shares of the business services provider’s stock after purchasing an additional 19,383 shares during the quarter. California Public Employees Retirement System owned approximately 0.18% of Global Payments worth $35,830,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Zions Bancorporation National Association UT bought a new position in shares of Global Payments during the 1st quarter worth about $37,000. LRI Investments LLC raised its position in Global Payments by 53.4% in the second quarter. LRI Investments LLC now owns 382 shares of the business services provider’s stock worth $31,000 after purchasing an additional 133 shares in the last quarter. Quarry LP bought a new position in Global Payments during the first quarter worth about $42,000. WPG Advisers LLC acquired a new stake in Global Payments during the first quarter valued at approximately $49,000. Finally, MTM Investment Management LLC bought a new stake in shares of Global Payments in the 2nd quarter valued at approximately $50,000. Institutional investors own 89.76% of the company’s stock.

Analyst Upgrades and Downgrades

GPN has been the subject of several analyst reports. Raymond James Financial restated an “outperform” rating and set a $105.00 target price on shares of Global Payments in a research report on Tuesday, November 4th. Citigroup raised Global Payments to a “strong-buy” rating in a report on Thursday, October 23rd. Jefferies Financial Group reduced their target price on shares of Global Payments from $85.00 to $75.00 and set a “hold” rating on the stock in a research note on Monday, November 24th. Wells Fargo & Company upgraded shares of Global Payments to a “strong-buy” rating in a research report on Wednesday, October 22nd. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Global Payments in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $102.29.

Global Payments Stock Up 3.7%

Shares of NYSE:GPN opened at $80.41 on Thursday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.57. The firm has a market cap of $19.04 billion, a P/E ratio of 11.29, a P/E/G ratio of 0.74 and a beta of 0.82. Global Payments Inc. has a 12 month low of $65.93 and a 12 month high of $117.56. The company’s 50-day moving average price is $80.21 and its two-hundred day moving average price is $81.52.

Global Payments (NYSE:GPN) last announced its 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. 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 during the quarter, compared to the consensus estimate of $2.41 billion. During the same period in the previous year, the firm posted $3.08 earnings per share. Global Payments has set its FY 2025 guidance at 6.600-6.666 EPS. As a group, research analysts forecast that Global Payments Inc. will post 11.89 EPS for the current fiscal year.

Global Payments Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Friday, December 12th. This represents a $1.00 annualized dividend and a yield of 1.2%. Global Payments’s dividend payout ratio is currently 14.04%.

Insider Buying and Selling at Global Payments

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

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.