Legal & General Group Plc Invests $120.04 Million in Global Payments Inc. $GPN

Legal & General Group Plc purchased a new position in shares of Global Payments Inc. (NYSE:GPN) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,654,302 shares of the business services provider’s stock, valued at approximately $120,036,000. Legal & General Group Plc owned approximately 0.63% of Global Payments as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Strive Financial Group LLC purchased a new position in shares of Global Payments during the 4th quarter worth approximately $25,000. DV Equities LLC purchased a new stake in shares of Global Payments in the fourth quarter valued at approximately $26,000. Torren Management LLC acquired a new position in Global Payments during the fourth quarter worth $34,000. Western Wealth Management LLC purchased a new position in Global Payments in the first quarter worth $34,000. Finally, Johnson Financial Group Inc. purchased a new position in Global Payments in the third quarter worth $35,000. Institutional investors and hedge funds own 89.76% of the company’s stock.

Global Payments Trading Down 0.4%

Shares of GPN stock opened at $92.62 on Friday. Global Payments Inc. has a fifty-two week low of $61.16 and a fifty-two week high of $95.88. The stock has a market cap of $24.51 billion, a P/E ratio of -31.08, a P/E/G ratio of 0.54 and a beta of 0.74. The business has a fifty day simple moving average of $81.86 and a 200-day simple moving average of $74.52. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.90.

Global Payments (NYSE:GPN) last released its quarterly earnings results on Wednesday, August 5th. The business services provider reported $3.46 earnings per share (EPS) for the quarter, topping 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 business had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.16 billion. The business’s revenue was up 68.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.10 EPS. Global Payments has set its FY 2026 guidance at 13.600-13.800 EPS. On average, analysts forecast that Global Payments Inc. will post 13.66 earnings per share for the current fiscal year.

Global Payments Dividend Announcement

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

Analyst Ratings Changes

GPN has been the topic of several research analyst reports. Jefferies Financial Group upgraded shares of Global Payments from a “hold” rating to a “buy” rating in a research report on Thursday, August 6th. The Goldman Sachs Group raised their price objective on shares of Global Payments from $82.00 to $94.00 and gave the company a “neutral” rating in a research note on Thursday, August 6th. Royal Bank Of Canada boosted their price objective on shares of Global Payments from $96.00 to $102.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 19th. UBS Group began coverage on shares of Global Payments in a research report on Thursday, August 6th. They set a “buy” rating on the stock. Finally, Keefe, Bruyette & Woods increased their target price on shares of Global Payments from $76.00 to $95.00 and gave the company a “market perform” rating in a report on Thursday, August 6th. Nine research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average 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.