Mercer Global Advisors Inc. ADV Increases Stake in Global Payments Inc. (NYSE: GPN)


Mercer Global Advisors Inc. ADV increased its position in shares of Global Payments Inc. (New York Stock Exchange: GPNGet a rating) by 33.3% in the first quarter, according to the company in its latest 13F filing with the SEC. The fund held 10,904 shares of the business services provider after buying an additional 2,721 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Global Payments were worth $1,492,000 when it was last filed with the SEC.

Other big investors have also been buying and selling shares of the company recently. MUFG Americas Holdings Corp bought a new position in Global Payments during Q1 worth $25,000. Bell Investment Advisors Inc increased its position in Global Payments by 128.6% during the 4th quarter. Bell Investment Advisors Inc now owns 192 shares of the business services provider worth $26,000 after buying 108 more shares in the last quarter. MCF Advisors LLC bought a new position in Global Payments during Q1 worth $27,000. Hazlett Burt & Watson Inc. bought a new position in Global Payments during Q1 worth $27,000. Finally, Western Pacific Wealth Management LP acquired a new position in Global Payments during Q4 worth $29,000. Hedge funds and other institutional investors own 84.53% of the company’s shares.

Changes to analyst ratings

A number of brokerages have commented on GPN. BMO Capital Markets raised its price target on Global Payments shares from $217.00 to $232.00 in a Wednesday, August 3 research report. Barclays lowered its price target on Global Payments shares from $182.00 to $160.00 in a Tuesday May 3 research note. Goldman Sachs Group began covering Global Payments shares in a research note on Tuesday, May 17. They set a “neutral” rating and a price target of $151.00 on the stock. Keefe, Bruyette & Woods lowered their price target on Global Payments shares from $175.00 to $155.00 in a Monday, July 11 research note. Finally, Truist Financial raised its price target on Global Payments shares from $150.00 to $160.00 and gave the stock a “buy” rating in a Tuesday, Aug. 2 research note. Six research analysts gave the stock a hold rating and twenty-two gave the stock a buy rating. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $173.29.

Global Payments Price Performance

GPN action opened at $128.74 on Wednesday. The stock has a market capitalization of $35.68 billion, a price-to-earnings ratio of 715.26, a growth price-to-earnings ratio of 0.90 and a beta of 1.04. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt ratio of 0.45. Global Payments Inc. has a 52-week low of $105.52 and a 52-week high of $175.73. The stock’s fifty-day simple moving average is $120.27 and its 200-day simple moving average is $128.04.

Global Payments (New York Stock Exchange: GPNGet a rating) last released its quarterly results on Monday, August 1. The business services provider reported earnings per share (EPS) of $2.36 for the quarter, beating analyst consensus estimates of $2.34 by $0.02. Global Payments had a return on equity of 9.24% and a net margin of 0.87%. The company posted revenue of $2.28 billion for the quarter, versus analyst estimates of $2.09 billion. During the same period last year, the company achieved EPS of $1.92. The company’s quarterly revenue increased 6.7% year over year. Equity research analysts expect Global Payments Inc. to post 9 EPS for the current year.

Global Payments Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 30. Investors of record on Friday, September 16 will receive a dividend of $0.25 per share. This represents an annualized dividend of $1.00 and a yield of 0.78%. The ex-dividend date is Thursday, September 15. Global Payments’ dividend payout ratio (DPR) is 555.59%.

Global Payments said its board authorized a stock buyback program on Monday Aug. 1 that allows the company to repurchase $1.50 billion of outstanding stock. This repurchase authorization allows the business services provider to acquire up to 4.2% of its shares through purchases on the open market. Share repurchase programs usually indicate that the company’s board of directors believe its shares are undervalued.

Insider buying and selling

In other news, EVP David Laurent green sold 16,252 shares of the company in a trade on Friday, June 3. The shares were sold at an average price of $130.10, for a total value of $2,114,385.20. Following the completion of the transaction, the executive vice president now directly owns 97,818 shares of the company, valued at $12,726,121.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available via the SEC website. In other Global Payments news, EVP David Laurent green sold 16,252 shares of the company in a trade on Friday, June 3. The shares were sold at an average price of $130.10, for a total transaction of $2,114,385.20. Following the completion of the sale, the executive vice president now owns 97,818 shares of the company, valued at $12,726,121.80. The transaction was disclosed in a legal filing with the SEC, accessible via the SEC website. Also, CAD David M. Sheffield sold 3,500 shares of the company in a trade on Wednesday, August 10. The shares were sold at an average price of $133.20, for a total transaction of $466,200.00. As a result of the transaction, the chief accounting officer now directly owns 28,737 shares of the company, valued at approximately $3,827,768.40. Disclosure of this sale can be found here. Company insiders hold 1.19% of the company’s shares.

Global Payments Company Profile

(Get a rating)

Global Payments Inc provides payment technology and software solutions for card, electronic, check and digital payments in the Americas, Europe and Asia-Pacific. It operates through three segments: Merchant Solutions, Issuer Solutions and Business and Consumer Solutions. The Merchant Solutions segment offers authorization services, settlement and financing services, customer support and assistance functions, chargeback resolution, terminal rental, sales and deployment, security services of payments, consolidated billing and statements, and online reporting services.

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Institutional ownership by quarter for Global Payments (NYSE:GPN)



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