HB Wealth Management LLC Acquires 25,118 Shares of Global Payments Inc. $GPN

HB Wealth Management LLC raised its holdings in shares of Global Payments Inc. (NYSE:GPN) by 213.9% in the 3rd quarter, Holdings Channel reports. The firm owned 36,861 shares of the business services provider’s stock after purchasing an additional 25,118 shares during the quarter. HB Wealth Management LLC’s holdings in Global Payments were worth $3,062,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in GPN. North Star Investment Management Corp. increased its stake in Global Payments by 242.2% in the 3rd quarter. North Star Investment Management Corp. now owns 308 shares of the business services provider’s stock worth $26,000 after buying an additional 218 shares during the period. LRI Investments LLC increased its position in shares of Global Payments by 53.4% during the second quarter. LRI Investments LLC now owns 382 shares of the business services provider’s stock worth $31,000 after acquiring an additional 133 shares during the period. Mather Group LLC. bought a new stake in shares of Global Payments during the third quarter valued at approximately $37,000. MTM Investment Management LLC purchased a new stake in shares of Global Payments in the second quarter valued at approximately $50,000. Finally, CYBER HORNET ETFs LLC bought a new position in Global Payments in the second quarter worth approximately $55,000. 89.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GPN. Raymond James Financial reaffirmed an “outperform” rating and set a $105.00 target price on shares of Global Payments in a research report on Tuesday, November 4th. KeyCorp lowered shares of Global Payments from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, October 22nd. Royal Bank Of Canada increased their target price on shares of Global Payments from $93.00 to $95.00 and gave the stock a “sector perform” rating in a report on Wednesday, November 5th. Rothschild & Co Redburn raised their target price on shares of Global Payments from $65.00 to $70.00 and gave the company a “sell” rating in a research report on Wednesday, December 3rd. Finally, Cowen reaffirmed a “hold” rating on shares of Global Payments in a research report on Wednesday, November 5th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $100.32.

Insider Activity

In related news, EVP David M. Sheffield sold 2,016 shares of the company’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $81.41, for a total transaction of $164,122.56. Following the transaction, the executive vice president directly owned 14,438 shares of the company’s stock, valued at $1,175,397.58. This represents a 12.25% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Patricia A. Watson purchased 1,331 shares of the firm’s stock in a transaction on Friday, November 7th. The stock was acquired at an average price of $75.06 per share, with a total value of $99,904.86. Following the completion of the purchase, the director owned 2,651 shares of the company’s stock, valued at $198,984.06. The trade was a 100.83% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders bought 14,723 shares of company stock worth $1,186,772 and sold 18,080 shares worth $1,439,350. Corporate insiders own 1.01% of the company’s stock.

Global Payments Stock Performance

Shares of Global Payments stock opened at $79.53 on Friday. The company has a market capitalization of $18.83 billion, a PE ratio of 11.17, a P/E/G ratio of 0.66 and a beta of 0.79. The company has a 50-day simple moving average of $77.78 and a two-hundred day simple moving average of $81.99. Global Payments Inc. has a one year low of $65.93 and a one year high of $114.17. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.85 and a current ratio of 0.85.

Global Payments (NYSE:GPN) last issued its quarterly earnings data on Tuesday, November 4th. The business services provider reported $3.26 earnings per share (EPS) 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 firm had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same quarter in the previous year, the firm earned $3.08 EPS. Global Payments has set its FY 2025 guidance at 6.600-6.666 EPS. Research analysts expect that Global Payments Inc. will post 11.89 EPS for the current fiscal year.

Global Payments Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 26th. Stockholders of record on Friday, December 12th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Friday, December 12th. Global Payments’s dividend payout ratio is currently 14.04%.

Global Payments Company 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.