GCM Grosvenor Holdings LLC Has $9.61 Million Stock Position in Global Payments Inc. $GPN

by · The Cerbat Gem

GCM Grosvenor Holdings LLC lowered its stake in shares of Global Payments Inc. (NYSE:GPN – Free Report) by 8.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 120,112 shares of the business services provider’s stock after selling 11,316 shares during the quarter. Global Payments makes up approximately 1.4% of GCM Grosvenor Holdings LLC’s holdings, making the stock its 14th biggest holding. GCM Grosvenor Holdings LLC’s holdings in Global Payments were worth $9,614,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Pzena Investment Management LLC lifted its position in shares of Global Payments by 32.6% during the second quarter. Pzena Investment Management LLC now owns 11,050,253 shares of the business services provider’s stock worth $884,462,000 after purchasing an additional 2,716,156 shares in the last quarter. Glenview Capital Management LLC raised its position in Global Payments by 13.8% in the 2nd quarter. Glenview Capital Management LLC now owns 4,316,892 shares of the business services provider’s stock worth $345,524,000 after purchasing an additional 523,209 shares during the last quarter. Norges Bank bought a new position in Global Payments in the 2nd quarter worth approximately $273,844,000. Massachusetts Financial Services Co. MA lifted its holdings in Global Payments by 5.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,070,960 shares of the business services provider’s stock worth $165,760,000 after buying an additional 98,815 shares in the last quarter. Finally, Amundi boosted its position in Global Payments by 77.5% in the 1st quarter. Amundi now owns 2,001,585 shares of the business services provider’s stock valued at $186,107,000 after buying an additional 874,175 shares during the last quarter. Institutional investors and hedge funds own 89.76% of the company’s stock.

Global Payments Price Performance

Shares of GPN opened at $82.04 on Friday. The stock has a market cap of $19.42 billion, a P/E ratio of 11.52, a price-to-earnings-growth ratio of 0.78 and a beta of 0.82. Global Payments Inc. has a 1 year low of $65.93 and a 1 year high of $116.16. The stock’s 50-day moving average price is $80.00 and its two-hundred day moving average price is $81.57. 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 – Get Free Report) last announced its quarterly earnings results on Tuesday, November 4th. The business services provider reported $3.26 EPS for the quarter, beating analysts’ consensus estimates of $3.23 by $0.03. Global Payments had a return on equity of 12.66% and a net margin of 19.68%.The company had revenue of $2.43 billion during the quarter, compared to analysts’ expectations 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. On average, equities analysts predict that Global Payments Inc. will post 11.89 earnings per share for the current year.

Global Payments Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 26th. Stockholders of record on Friday, December 12th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, December 12th. Global Payments’s dividend payout ratio (DPR) is currently 14.04%.

Insider Activity at Global Payments

In other news, Director Connie D. Mcdaniel sold 4,464 shares of the business’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $77.81, for a total value of $347,343.84. Following the completion of the transaction, the director owned 30,014 shares of the company’s stock, valued at $2,335,389.34. The trade was a 12.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Patricia A. Watson acquired 1,331 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The shares were acquired at an average cost of $75.06 per share, for a total transaction of $99,904.86. Following the purchase, the director directly owned 2,651 shares in the company, valued at $198,984.06. This trade represents a 100.83% increase in their position. Additional details regarding this purchase 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. 1.01% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on GPN shares. Weiss Ratings restated a “hold (c-)” rating on shares of Global Payments in a research report on Wednesday, October 8th. Wells Fargo & Company upgraded Global Payments to a “strong-buy” rating in a research report on Wednesday, October 22nd. Cowen reissued a “hold” rating on shares of Global Payments in a report on Wednesday, November 5th. Rothschild & Co Redburn upped their target price on shares of Global Payments from $65.00 to $70.00 and gave the company a “sell” rating in a research report on Wednesday, December 3rd. Finally, TD Cowen lifted their price target on shares of Global Payments from $92.00 to $95.00 and gave the stock a “hold” rating in a research report on Wednesday, November 5th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $102.29.

Check Out Our Latest Research Report on Global Payments

About Global Payments

(Free Report)

Global Payments Inc provides payment technology and software solutions for card, check, and digital-based payments in the Americas, Europe, and the Asia-Pacific. It operates through two segments, Merchant Solutions and Issuer Solutions. The Merchant Solutions segment offers authorization, settlement and funding, customer support, chargeback resolution, terminal rental, sales and deployment, payment security, and consolidated billing and reporting services.

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