Texas Permanent School Fund Corp Sells 9,271 Shares of Global Payments Inc. $GPN

Texas Permanent School Fund Corp lowered its position in shares of Global Payments Inc. (NYSE:GPN) by 35.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,880 shares of the business services provider’s stock after selling 9,271 shares during the period. Texas Permanent School Fund Corp’s holdings in Global Payments were worth $1,351,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. LRI Investments LLC boosted its stake in Global Payments by 53.4% during the 2nd quarter. LRI Investments LLC now owns 382 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 133 shares during the last quarter. Quarry LP purchased a new position in shares of Global Payments in the first quarter worth $42,000. WPG Advisers LLC bought a new position in shares of Global Payments during the first quarter valued at $49,000. MTM Investment Management LLC purchased a new stake in shares of Global Payments during the second quarter valued at $50,000. Finally, CYBER HORNET ETFs LLC purchased a new stake in shares of Global Payments during the second quarter valued at $55,000. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on GPN. Wells Fargo & Company upgraded shares of Global Payments to a “strong-buy” rating in a research note on Wednesday, October 22nd. TD Cowen boosted their price objective on shares of Global Payments from $92.00 to $95.00 and gave the company a “hold” rating in a report on Wednesday, November 5th. Citigroup upgraded shares of Global Payments to a “strong-buy” rating in a research report on Thursday, October 23rd. Jefferies Financial Group dropped their target price on shares of Global Payments from $85.00 to $75.00 and set a “hold” rating on the stock in a report on Monday, November 24th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $105.00 target price on shares of Global Payments in a research note on Tuesday, November 4th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $102.29.

Global Payments Stock Down 1.4%

GPN opened at $80.13 on Wednesday. The firm’s 50 day simple moving average is $79.29 and its two-hundred day simple moving average is $81.93. The company has a market capitalization of $18.97 billion, a PE ratio of 11.25, a PEG ratio of 0.77 and a beta of 0.82. Global Payments Inc. has a 1-year low of $65.93 and a 1-year high of $115.19. The company has a current ratio of 0.85, a quick 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, topping 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 analyst estimates of $2.41 billion. During the same period in the prior year, the business posted $3.08 EPS. Global Payments has set its FY 2025 guidance at 6.600-6.666 EPS. As a group, equities analysts forecast that Global Payments Inc. will post 11.89 EPS for the current year.

Global Payments Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 26th. Stockholders 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 1.2%. Global Payments’s dividend payout ratio (DPR) is 14.04%.

Insider Activity

In other news, Director Patricia A. Watson purchased 1,331 shares of the stock in a transaction on Friday, November 7th. The shares were acquired at an average price of $75.06 per share, with a total value of $99,904.86. Following the completion of the acquisition, the director directly owned 2,651 shares of the company’s stock, valued at $198,984.06. This trade represents a 100.83% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider David Lawrence Green sold 11,600 shares of the stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $79.99, for a total transaction of $927,884.00. Following the completion of the sale, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders bought 14,723 shares of company stock worth $1,186,772 and sold 18,080 shares worth $1,439,350. Corporate insiders own 1.01% of the company’s stock.

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.