Manning & Napier Advisors LLC Buys 18,095 Shares of Global Payments Inc. $GPN

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

A number of other large investors have also bought and sold shares of GPN. North Star Investment Management Corp. raised its holdings in shares of Global Payments by 242.2% during the third quarter. North Star Investment Management Corp. now owns 308 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 218 shares during the period. LRI Investments LLC increased its position in Global Payments by 53.4% in the 2nd quarter. LRI Investments LLC now owns 382 shares of the business services provider’s stock valued at $31,000 after buying an additional 133 shares in the last quarter. Mather Group LLC. bought a new stake in Global Payments in the 3rd quarter valued at about $37,000. Cromwell Holdings LLC boosted its holdings in Global Payments by 103.7% in the third quarter. Cromwell Holdings LLC now owns 497 shares of the business services provider’s stock worth $41,000 after acquiring an additional 253 shares in the last quarter. Finally, MTM Investment Management LLC acquired a new stake in Global Payments in the second quarter valued at approximately $50,000. 89.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Global Payments news, Director Robert H. B. Baldwin, Jr. purchased 10,392 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The stock was bought at an average cost of $81.42 per share, with a total value of $846,116.64. Following the completion of the transaction, the director owned 59,303 shares of the company’s stock, valued at $4,828,450.26. The trade was a 21.25% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Connie D. Mcdaniel sold 4,464 shares of Global Payments stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $77.81, for a total value of $347,343.84. Following the sale, the director owned 30,014 shares in the company, valued at $2,335,389.34. This trade represents a 12.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders purchased 14,723 shares of company stock valued at $1,186,772 and sold 18,080 shares valued at $1,439,350. Insiders own 1.01% of the company’s stock.

Global Payments Stock Performance

NYSE GPN opened at $77.43 on Thursday. The company has a fifty day moving average price of $77.75 and a 200-day moving average price of $82.01. The firm 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 company has a debt-to-equity ratio of 0.57, a current ratio of 0.85 and a quick ratio of 0.85. Global Payments Inc. has a 1 year low of $65.93 and a 1 year high of $114.17.

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

Global Payments Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 26th. Stockholders of record on Friday, December 12th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Friday, December 12th. Global Payments’s payout ratio is presently 14.04%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Global Payments in a research report on Wednesday. They set a “hold” rating and a $80.00 target price on the stock. TD Cowen upped their price objective on shares of Global Payments from $92.00 to $95.00 and gave the stock a “hold” rating in a report on Wednesday, November 5th. Citigroup raised shares of Global Payments to a “strong-buy” rating in a research note on Thursday, October 23rd. Royal Bank Of Canada boosted their target price on shares of Global Payments from $93.00 to $95.00 and gave the stock a “sector perform” rating in a research report on Wednesday, November 5th. Finally, Zacks Research raised shares of Global Payments to a “hold” rating in a research report on Tuesday, November 18th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $99.30.

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.