WESCAP Management Group Inc. Has $352,000 Stock Holdings in Global Payments Inc. $GPN

WESCAP Management Group Inc. cut its stake in Global Payments Inc. (NYSE:GPN) by 38.1% in the second quarter, HoldingsChannel reports. The fund owned 4,393 shares of the business services provider’s stock after selling 2,709 shares during the period. WESCAP Management Group Inc.’s holdings in Global Payments were worth $352,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of GPN. Pzena Investment Management LLC lifted its holdings in Global Payments by 32.6% during the 2nd quarter. Pzena Investment Management LLC now owns 11,050,253 shares of the business services provider’s stock worth $884,462,000 after buying an additional 2,716,156 shares in the last quarter. Amundi raised its position in shares of Global Payments by 77.5% during the first quarter. Amundi now owns 2,001,585 shares of the business services provider’s stock worth $186,107,000 after acquiring an additional 874,175 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Global Payments by 2.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,955,393 shares of the business services provider’s stock valued at $191,451,000 after acquiring an additional 49,029 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Global Payments by 0.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,624,288 shares of the business services provider’s stock valued at $159,050,000 after acquiring an additional 9,755 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in Global Payments by 6.1% in the first quarter. AQR Capital Management LLC now owns 1,458,570 shares of the business services provider’s stock worth $140,402,000 after purchasing an additional 84,285 shares during the period. 89.76% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on GPN. TD Cowen upped their target price on shares of Global Payments from $92.00 to $95.00 and gave the company a “hold” rating in a research report on Wednesday. Wells Fargo & Company raised shares of Global Payments to a “strong-buy” rating in a research note on Wednesday, October 22nd. KeyCorp lowered shares of Global Payments from an “overweight” rating to a “sector weight” rating in a report on Wednesday, October 22nd. Citigroup raised Global Payments to a “strong-buy” rating in a research note on Thursday, October 23rd. Finally, Cowen reaffirmed a “hold” rating on shares of Global Payments in a research note on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and fourteen have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $104.10.

Global Payments Price Performance

Shares of GPN opened at $75.96 on Friday. The stock has a 50 day simple moving average of $84.93 and a 200 day simple moving average of $81.81. Global Payments Inc. has a 52-week low of $65.93 and a 52-week high of $120.00. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market capitalization of $18.43 billion, a PE ratio of 13.28, a P/E/G ratio of 0.76 and a beta of 0.95.

Global Payments (NYSE:GPN) last released its quarterly earnings results on Tuesday, November 4th. The business services provider reported $3.26 earnings per share for the quarter, beating the consensus estimate of $3.23 by $0.03. Global Payments had a net margin of 15.07% and a return on equity of 12.47%. The company had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter in the prior year, the company earned $3.08 earnings per share. Global Payments has set its FY 2025 guidance at 6.600-6.666 EPS. Sell-side analysts predict that Global Payments Inc. will post 11.89 EPS for the current fiscal year.

Global Payments Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 26th. Shareholders of record on Friday, December 12th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, December 12th. This represents a $1.00 annualized dividend and a dividend yield of 1.3%. Global Payments’s dividend payout ratio (DPR) is currently 14.04%.

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.