Formula Growth Ltd. Takes $1.94 Million Position in Global Payments Inc. $GPN

Formula Growth Ltd. purchased a new position in shares of Global Payments Inc. (NYSE:GPN) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 26,759 shares of the business services provider’s stock, valued at approximately $1,942,000.

Other hedge funds have also modified their holdings of the company. Strive Financial Group LLC acquired a new stake in shares of Global Payments in the fourth quarter valued at about $25,000. DV Equities LLC acquired a new position in Global Payments during the fourth quarter worth $26,000. Torren Management LLC purchased a new stake in Global Payments during the fourth quarter worth $34,000. Western Wealth Management LLC purchased a new stake in Global Payments during the first quarter worth $34,000. Finally, Johnson Financial Group Inc. acquired a new stake in Global Payments in the third quarter valued at $35,000. 89.76% of the stock is owned by institutional investors and hedge funds.

Global Payments Stock Down 0.4%

GPN stock opened at $92.62 on Friday. The stock has a market capitalization of $24.51 billion, a P/E ratio of -31.08, a PEG ratio of 0.54 and a beta of 0.74. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.82 and a current ratio of 0.82. Global Payments Inc. has a one year low of $61.16 and a one year high of $95.88. The company has a 50 day moving average price of $81.86 and a two-hundred day moving average price of $74.52.

Global Payments (NYSE:GPN) last issued 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 positive return on equity of 13.80% and a negative net margin of 9.16%.The company had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.16 billion. During the same period in the previous year, the firm posted $3.10 EPS. Global Payments’s revenue was up 68.6% on a year-over-year basis. Global Payments has set its FY 2026 guidance at 13.600-13.800 EPS. As a group, sell-side analysts expect that Global Payments Inc. will post 13.66 EPS for the current year.

Global Payments Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages have recently weighed in on GPN. Wolfe Research restated an “outperform” rating and issued a $125.00 price target (up from $110.00) on shares of Global Payments in a research report on Tuesday. Barclays set a $89.00 price objective on shares of Global Payments and gave the company an “equal weight” rating in a research note on Thursday, August 6th. Stephens set a $80.00 target price on shares of Global Payments and gave the company an “equal weight” rating in a report on Thursday, May 7th. Zacks Research cut shares of Global Payments from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. Finally, Rothschild & Co Redburn reduced their price target on shares of Global Payments from $70.00 to $60.00 and set a “sell” rating on the stock in a report on Tuesday, May 12th. Nine investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $92.36.

Global Payments 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.