Global Payments Inc. $GPN Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lessened its holdings in shares of Global Payments Inc. (NYSE:GPN) by 83.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 201,235 shares of the business services provider’s stock after selling 1,006,042 shares during the quarter. Assenagon Asset Management S.A. owned 0.07% of Global Payments worth $13,543,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of GPN. Westpac Banking Corp increased its position in shares of Global Payments by 5,795.1% in the 4th quarter. Westpac Banking Corp now owns 57,182 shares of the business services provider’s stock worth $4,426,000 after purchasing an additional 56,212 shares during the last quarter. Moore Capital Management LP grew its stake in Global Payments by 13.3% in the third quarter. Moore Capital Management LP now owns 231,200 shares of the business services provider’s stock worth $19,208,000 after purchasing an additional 27,200 shares in the last quarter. Invenomic Capital Management LP grew its stake in Global Payments by 11.1% in the third quarter. Invenomic Capital Management LP now owns 681,094 shares of the business services provider’s stock worth $56,585,000 after purchasing an additional 68,071 shares in the last quarter. Jain Global LLC bought a new stake in Global Payments in the third quarter valued at about $10,656,000. Finally, Pzena Investment Management LLC increased its holdings in Global Payments by 4.6% in the fourth quarter. Pzena Investment Management LLC now owns 11,409,697 shares of the business services provider’s stock valued at $883,111,000 after buying an additional 500,887 shares during the last quarter. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Weiss Ratings downgraded Global Payments from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday, May 11th. Argus dropped their price target on Global Payments from $100.00 to $95.00 in a research report on Friday, May 8th. Morgan Stanley started coverage on Global Payments in a research note on Monday, June 22nd. They set an “equal weight” rating and a $65.00 price objective on the stock. BNP Paribas Exane decreased their price objective on shares of Global Payments from $64.00 to $60.00 and set an “underperform” rating for the company in a report on Friday, April 10th. Finally, Citigroup lowered their target price on shares of Global Payments from $110.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, April 2nd. Five investment analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Global Payments currently has a consensus rating of “Hold” and a consensus target price of $83.87.

Global Payments Trading Up 2.6%

Shares of NYSE GPN opened at $69.93 on Friday. The company has a market cap of $19.13 billion, a price-to-earnings ratio of -34.28, a price-to-earnings-growth ratio of 0.39 and a beta of 0.76. Global Payments Inc. has a 12-month low of $61.16 and a 12-month high of $90.64. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.86. The stock’s 50 day simple moving average is $69.23 and its 200 day simple moving average is $72.41.

Global Payments (NYSE:GPN) last issued its quarterly earnings data on Wednesday, May 6th. The business services provider reported $2.96 EPS for the quarter, topping analysts’ consensus estimates of $2.82 by $0.14. Global Payments had a positive return on equity of 13.11% and a negative net margin of 7.99%.The firm had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.81 billion. During the same period in the prior year, the business earned $2.82 EPS. The firm’s revenue was up 63.1% on a year-over-year basis. Global Payments has set its FY 2026 guidance at 13.800-14.000 EPS. Equities research analysts expect that Global Payments Inc. will post 13.86 EPS for the current year.

Global Payments Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were given a $0.25 dividend. The ex-dividend date was Friday, June 12th. This represents a $1.00 annualized dividend and a yield of 1.4%. Global Payments’s dividend payout ratio (DPR) is currently -49.02%.

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.