Global Payments Inc. $GPN Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC reduced its stake in Global Payments Inc. (NYSE:GPN) by 13.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 86,184 shares of the business services provider’s stock after selling 13,628 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Global Payments were worth $7,160,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Pettee Investors Inc. raised its holdings in Global Payments by 24.1% in the second quarter. Pettee Investors Inc. now owns 15,672 shares of the business services provider’s stock valued at $1,254,000 after acquiring an additional 3,040 shares in the last quarter. Saiph Capital LLC acquired a new stake in Global Payments in the second quarter valued at $7,269,000. Sound Income Strategies LLC lifted its holdings in Global Payments by 7.9% during the 2nd quarter. Sound Income Strategies LLC now owns 60,905 shares of the business services provider’s stock worth $4,875,000 after buying an additional 4,478 shares during the last quarter. Kempner Capital Management Inc. acquired a new position in shares of Global Payments during the 2nd quarter worth about $6,233,000. Finally, Pzena Investment Management LLC increased its holdings in shares of Global Payments by 32.6% in the 2nd quarter. Pzena Investment Management LLC now owns 11,050,253 shares of the business services provider’s stock valued at $884,462,000 after acquiring an additional 2,716,156 shares during the last quarter. 89.76% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on GPN. KeyCorp lowered shares of Global Payments from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, October 22nd. Evercore ISI lowered their target price on shares of Global Payments from $90.00 to $85.00 in a report on Tuesday, November 11th. Wells Fargo & Company upgraded shares of Global Payments to a “strong-buy” rating in a research note on Wednesday, October 22nd. Jefferies Financial Group reduced their price target on shares of Global Payments from $85.00 to $75.00 and set a “hold” rating for the company in a research report on Monday, November 24th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Global Payments in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Global Payments presently has an average rating of “Hold” and an average target price of $102.29.

Insider Buying and Selling

In other news, Director Robert H. B. Baldwin, Jr. purchased 10,392 shares of the company’s stock in a transaction dated Thursday, December 11th. The shares were acquired at an average cost of $81.42 per share, for a total transaction of $846,116.64. Following the completion of the purchase, the director directly owned 59,303 shares in the company, valued at $4,828,450.26. The trade was a 21.25% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David M. Sheffield sold 2,016 shares of the 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders acquired 14,723 shares of company stock worth $1,186,772 and sold 18,080 shares worth $1,439,350. 1.01% of the stock is owned by corporate insiders.

Global Payments Stock Performance

NYSE GPN opened at $80.80 on Monday. The firm has a market cap of $19.13 billion, a P/E ratio of 11.35, a P/E/G ratio of 0.77 and a beta of 0.82. Global Payments Inc. has a 52-week low of $65.93 and a 52-week high of $115.19. The business’s 50-day moving average price is $79.48 and its 200 day moving average price is $81.87. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.57.

Global Payments (NYSE:GPN) last posted its quarterly earnings data on Tuesday, November 4th. The business services provider reported $3.26 EPS for the quarter, beating the consensus estimate of $3.23 by $0.03. Global Payments had a return on equity of 12.66% and a net margin of 19.68%.The firm had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same period in the prior year, the business earned $3.08 EPS. Global Payments has set its FY 2025 guidance at 6.600-6.666 EPS. On average, equities research analysts expect that Global Payments Inc. will post 11.89 earnings per share for the current year.

Global Payments Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 26th. Investors of record on Friday, December 12th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Friday, December 12th. Global Payments’s dividend payout ratio (DPR) is 14.04%.

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.