Global Payments Inc. $GPN Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC lessened its holdings in shares of Global Payments Inc. (NYSE:GPN) by 1.2% during the 4th quarter, Holdings Channel reports. The firm owned 6,313,046 shares of the business services provider’s stock after selling 76,929 shares during the period. Geode Capital Management LLC’s holdings in Global Payments were worth $486,746,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Allstate Corp lifted its position in shares of Global Payments by 74.2% during the fourth quarter. Allstate Corp now owns 15,510 shares of the business services provider’s stock worth $1,200,000 after purchasing an additional 6,607 shares in the last quarter. Clearstead Advisors LLC lifted its position in shares of Global Payments by 29.6% during the fourth quarter. Clearstead Advisors LLC now owns 1,875 shares of the business services provider’s stock worth $145,000 after purchasing an additional 428 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Global Payments by 1.0% during the fourth quarter. Legal & General Group Plc now owns 1,658,880 shares of the business services provider’s stock worth $128,397,000 after purchasing an additional 16,912 shares in the last quarter. Hantz Financial Services Inc. lifted its position in shares of Global Payments by 87.5% during the fourth quarter. Hantz Financial Services Inc. now owns 478 shares of the business services provider’s stock worth $37,000 after purchasing an additional 223 shares in the last quarter. Finally, Jefferies Financial Group Inc. acquired a new stake in shares of Global Payments during the fourth quarter worth about $1,695,000. Institutional investors and hedge funds own 89.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Cantor Fitzgerald reduced their price target on shares of Global Payments from $88.00 to $76.00 and set a “neutral” rating on the stock in a research report on Monday, May 11th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Global Payments from $80.00 to $75.00 in a research report on Monday, May 11th. The Goldman Sachs Group initiated coverage on shares of Global Payments in a research report on Monday, March 9th. They set a “hold” rating and a $88.00 price target on the stock. Argus cut their target price on shares of Global Payments from $100.00 to $95.00 in a research note on Friday, May 8th. Finally, Truist Financial cut their target price on shares of Global Payments from $81.00 to $76.00 and set a “hold” rating on the stock in a research note on Tuesday, May 19th. Four analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $84.29.

Global Payments Stock Down 0.0%

GPN stock opened at $75.51 on Monday. The company’s 50 day moving average price is $69.17 and its 200 day moving average price is $73.52. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.79 and a current ratio of 0.79. Global Payments Inc. has a fifty-two week low of $62.45 and a fifty-two week high of $90.64. The firm has a market capitalization of $20.65 billion, a price-to-earnings ratio of -37.01, a PEG ratio of 0.42 and a beta of 0.76.

Global Payments (NYSE:GPN) last released its earnings results on Wednesday, May 6th. The business services provider reported $2.96 earnings per share for the quarter, topping analysts’ consensus estimates of $2.82 by $0.14. Global Payments had a negative net margin of 7.99% and a positive return on equity of 13.11%. The firm had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.81 billion. During the same period in the prior year, the firm earned $2.82 earnings per share. The business’s quarterly revenue was up 63.1% compared to the same quarter last year. Global Payments has set its FY 2026 guidance at 13.800-14.000 EPS. On average, equities research analysts anticipate that Global Payments Inc. will post 13.89 EPS for the current fiscal year.

Global Payments Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 12th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Friday, June 12th. Global Payments’s dividend payout ratio is presently -49.02%.

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.