Van ECK Associates Corp Acquires 11,381 Shares of Global Payments Inc. $GPN

Van ECK Associates Corp grew its holdings in shares of Global Payments Inc. (NYSE:GPN) by 35.6% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 43,337 shares of the business services provider’s stock after acquiring an additional 11,381 shares during the quarter. Van ECK Associates Corp’s holdings in Global Payments were worth $3,145,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Gtcr LLC purchased a new stake in Global Payments in the first quarter worth $2,911,939,000. Pzena Investment Management LLC bought a new stake in shares of Global Payments during the 2nd quarter valued at about $848,344,000. Norges Bank purchased a new position in shares of Global Payments during the fourth quarter valued at about $276,014,000. Deutsche Bank AG purchased a new position in shares of Global Payments during the second quarter valued at about $138,781,000. Finally, Legal & General Group Plc bought a new position in Global Payments in the second quarter worth about $120,036,000. Institutional investors own 89.76% of the company’s stock.

Global Payments Trading Down 1.3%

Shares of NYSE GPN opened at $91.60 on Friday. The firm’s 50 day moving average price is $84.37 and its 200-day moving average price is $75.24. Global Payments Inc. has a 52-week low of $61.16 and a 52-week high of $95.88. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market cap of $24.24 billion, a PE ratio of -30.74, a P/E/G ratio of 0.50 and a beta of 0.78.

Global Payments (NYSE:GPN) last announced its quarterly earnings results on Wednesday, August 5th. The business services provider reported $3.46 earnings per share for the quarter, beating the consensus estimate of $3.44 by $0.02. Global Payments had a negative net margin of 9.16% and a positive return on equity of 13.80%. The company had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter last year, the firm earned $3.10 earnings per share. The firm’s quarterly revenue was up 68.6% compared to the same quarter last year. Global Payments has set its FY 2026 guidance at 13.600-13.800 EPS. On average, equities research analysts expect that Global Payments Inc. will post 13.65 EPS for the current fiscal year.

Global Payments Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, September 11th. Global Payments’s dividend payout ratio is presently -33.56%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GPN. Wolfe Research reaffirmed an “outperform” rating and set a $125.00 price objective (up from $110.00) on shares of Global Payments in a research report on Tuesday, August 25th. Truist Financial raised their target price on Global Payments from $79.00 to $95.00 and gave the company a “hold” rating in a research note on Tuesday, August 25th. Weiss Ratings restated a “sell (d)” rating on shares of Global Payments in a research report on Friday, August 7th. Cantor Fitzgerald decreased their price objective on Global Payments from $88.00 to $76.00 and set a “neutral” rating for the company in a report on Monday, May 11th. Finally, Morgan Stanley restated an “overweight” rating and set a $103.00 target price on shares of Global Payments in a report on Thursday, August 6th. Nine analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, Global Payments currently has a consensus rating of “Hold” and an average price target of $92.52.

Global Payments Company 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.