Canada Pension Plan Investment Board Has $38.22 Million Position in Global Payments Inc. (NYSE:GPN)

Canada Pension Plan Investment Board raised its stake in shares of Global Payments Inc. (NYSE:GPN) by 62.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 285,954 shares of the business services provider’s stock after buying an additional 109,999 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Global Payments were worth $38,221,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Capital International Investors grew its position in shares of Global Payments by 1.3% during the 1st quarter. Capital International Investors now owns 1,044,263 shares of the business services provider’s stock worth $139,576,000 after buying an additional 13,155 shares during the period. Sheaff Brock Investment Advisors LLC acquired a new position in shares of Global Payments during the 1st quarter worth about $898,000. EP Wealth Advisors LLC grew its position in shares of Global Payments by 3.1% during the 1st quarter. EP Wealth Advisors LLC now owns 223,047 shares of the business services provider’s stock worth $29,813,000 after buying an additional 6,616 shares during the period. EntryPoint Capital LLC acquired a new position in shares of Global Payments during the 1st quarter worth about $106,000. Finally, MQS Management LLC acquired a new position in shares of Global Payments during the 1st quarter worth about $289,000. 89.76% of the stock is currently owned by institutional investors and hedge funds.

Global Payments Stock Performance

NYSE GPN traded up $2.45 on Friday, reaching $101.19. The stock had a trading volume of 1,778,747 shares, compared to its average volume of 1,989,694. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a fifty day moving average of $98.36 and a two-hundred day moving average of $117.57. Global Payments Inc. has a 1-year low of $91.60 and a 1-year high of $141.77. The company has a market cap of $25.83 billion, a P/E ratio of 20.08, a price-to-earnings-growth ratio of 0.63 and a beta of 0.98.

Global Payments (NYSE:GPN) last issued its quarterly earnings data on Wednesday, May 1st. The business services provider reported $2.48 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $0.07. The firm had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.17 billion. Global Payments had a return on equity of 11.72% and a net margin of 13.40%. On average, equities research analysts anticipate that Global Payments Inc. will post 11.09 EPS for the current year.

Global Payments Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.99%. The ex-dividend date was Friday, June 14th. Global Payments’s dividend payout ratio (DPR) is currently 19.84%.

Analyst Ratings Changes

Several research firms have recently weighed in on GPN. Wells Fargo & Company began coverage on Global Payments in a report on Wednesday, June 12th. They set an “equal weight” rating and a $100.00 price objective on the stock. KeyCorp cut their price objective on Global Payments from $155.00 to $145.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. TD Cowen cut their price objective on Global Payments from $152.00 to $125.00 and set a “buy” rating on the stock in a report on Friday, June 21st. Mizuho cut their price objective on Global Payments from $129.00 to $105.00 and set a “neutral” rating on the stock in a report on Wednesday, May 15th. Finally, Citigroup cut their price objective on Global Payments from $163.00 to $155.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat, Global Payments presently has an average rating of “Moderate Buy” and an average price target of $145.32.

Insider Transactions at Global Payments

In other news, VP Andrea M. Carter sold 3,300 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $111.34, for a total transaction of $367,422.00. Following the sale, the vice president now directly owns 25,209 shares of the company’s stock, valued at approximately $2,806,770.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.98% of the stock is currently owned by insiders.

Global Payments Profile

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.