Manning & Napier Advisors LLC Has $5.31 Million Stock Holdings in Global Payments Inc. $GPN

Manning & Napier Advisors LLC lifted its holdings in shares of Global Payments Inc. (NYSE:GPN) by 39.5% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 63,907 shares of the business services provider’s stock after buying an additional 18,095 shares during the period. Manning & Napier Advisors LLC’s holdings in Global Payments were worth $5,309,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of GPN. Pzena Investment Management LLC raised its stake in Global Payments by 32.6% during the second quarter. Pzena Investment Management LLC now owns 11,050,253 shares of the business services provider’s stock worth $884,462,000 after acquiring an additional 2,716,156 shares in the last quarter. Glenview Capital Management LLC grew its holdings in shares of Global Payments by 13.8% during the 2nd quarter. Glenview Capital Management LLC now owns 4,316,892 shares of the business services provider’s stock valued at $345,524,000 after purchasing an additional 523,209 shares during the last quarter. Norges Bank bought a new stake in shares of Global Payments during the 2nd quarter valued at approximately $273,844,000. Massachusetts Financial Services Co. MA increased its position in Global Payments by 5.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,070,960 shares of the business services provider’s stock worth $165,760,000 after purchasing an additional 98,815 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Global Payments by 1.5% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,649,083 shares of the business services provider’s stock valued at $131,993,000 after purchasing an additional 24,795 shares during the last quarter. 89.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on GPN. Truist Financial decreased their target price on shares of Global Payments from $90.00 to $84.00 and set a “hold” rating on the stock in a research note on Thursday, November 13th. Evercore ISI reduced their price objective on Global Payments from $90.00 to $85.00 in a research report on Tuesday, November 11th. Royal Bank Of Canada increased their target price on Global Payments from $93.00 to $95.00 and gave the company a “sector perform” rating in a research report on Wednesday, November 5th. Deutsche Bank Aktiengesellschaft began coverage on Global Payments in a research note on Wednesday. They set a “hold” rating and a $80.00 price target on the stock. Finally, Wells Fargo & Company upgraded shares of Global Payments to a “strong-buy” rating in a report on Wednesday, October 22nd. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Global Payments currently has an average rating of “Hold” and an average target price of $99.30.

Insider Buying and Selling at Global Payments

In other news, insider David Lawrence Green sold 11,600 shares of Global Payments stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $79.99, for a total value of $927,884.00. Following the completion of the transaction, the insider directly owned 68,096 shares of the company’s stock, valued at approximately $5,446,999.04. This trade represents a 14.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Patricia A. Watson bought 1,331 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The shares were acquired at an average price of $75.06 per share, for a total transaction of $99,904.86. Following the transaction, the director owned 2,651 shares in the company, valued at $198,984.06. This represents a 100.83% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have purchased 14,723 shares of company stock valued at $1,186,772 and have sold 18,080 shares valued at $1,439,350. Corporate insiders own 1.01% of the company’s stock.

Global Payments Trading Down 0.1%

Shares of GPN stock opened at $77.43 on Thursday. Global Payments Inc. has a 1-year low of $65.93 and a 1-year high of $114.17. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.57. The stock has a market cap of $18.33 billion, a price-to-earnings ratio of 10.88, a PEG ratio of 0.65 and a beta of 0.79. The stock has a 50-day moving average of $77.75 and a 200-day moving average of $82.01.

Global Payments (NYSE:GPN) last announced its earnings results 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 business had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.41 billion. During the same period in the prior year, the business posted $3.08 earnings per share. Global Payments has set its FY 2025 guidance at 6.600-6.666 EPS. On average, equities research analysts forecast that Global Payments Inc. will post 11.89 earnings per share for the current year.

Global Payments Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 26th. Investors of record on Friday, December 12th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Friday, December 12th. Global Payments’s dividend payout ratio (DPR) is currently 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.