Mackenzie Financial Corp Buys 25,365 Shares of Global Payments Inc. (NYSE:GPN)

Mackenzie Financial Corp lifted its stake in Global Payments Inc. (NYSE:GPN) by 91.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 53,107 shares of the business services provider’s stock after buying an additional 25,365 shares during the quarter. Mackenzie Financial Corp’s holdings in Global Payments were worth $5,135,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Fidelis Capital Partners LLC raised its stake in shares of Global Payments by 5.1% in the first quarter. Fidelis Capital Partners LLC now owns 1,930 shares of the business services provider’s stock worth $258,000 after buying an additional 93 shares during the period. Oliver Luxxe Assets LLC grew its position in shares of Global Payments by 0.3% during the first quarter. Oliver Luxxe Assets LLC now owns 34,435 shares of the business services provider’s stock worth $4,603,000 after purchasing an additional 108 shares in the last quarter. West Paces Advisors Inc. grew its position in shares of Global Payments by 54.5% during the first quarter. West Paces Advisors Inc. now owns 309 shares of the business services provider’s stock worth $41,000 after purchasing an additional 109 shares in the last quarter. KFG Wealth Management LLC grew its position in shares of Global Payments by 6.4% during the first quarter. KFG Wealth Management LLC now owns 1,883 shares of the business services provider’s stock worth $252,000 after purchasing an additional 114 shares in the last quarter. Finally, Wedmont Private Capital grew its position in shares of Global Payments by 0.9% during the first quarter. Wedmont Private Capital now owns 13,859 shares of the business services provider’s stock worth $1,776,000 after purchasing an additional 119 shares in the last quarter. Institutional investors own 89.76% of the company’s stock.

Global Payments Trading Down 1.9 %

Shares of NYSE GPN opened at $100.43 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.68. The business has a fifty day simple moving average of $105.62 and a two-hundred day simple moving average of $108.56. The firm has a market cap of $25.63 billion, a PE ratio of 19.93, a price-to-earnings-growth ratio of 0.71 and a beta of 0.98. Global Payments Inc. has a twelve month low of $91.60 and a twelve month high of $141.77.

Global Payments (NYSE:GPN) last issued its earnings results on Wednesday, August 7th. The business services provider reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.90 by $0.03. The business had revenue of $2.57 billion during the quarter, compared to analyst estimates of $2.32 billion. Global Payments had a return on equity of 11.93% and a net margin of 14.26%. Global Payments’s revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.48 EPS. Analysts expect that Global Payments Inc. will post 11.07 earnings per share for the current fiscal year.

Global Payments Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a $0.25 dividend. The ex-dividend date was Friday, September 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.00%. Global Payments’s dividend payout ratio is presently 19.84%.

Analyst Ratings Changes

Several research firms recently issued reports on GPN. BNP Paribas upgraded Global Payments to a “strong sell” rating in a research report on Wednesday, September 4th. Susquehanna restated a “positive” rating and set a $147.00 price target on shares of Global Payments in a report on Tuesday, September 17th. BTIG Research cut Global Payments from a “buy” rating to a “neutral” rating in a report on Wednesday, September 25th. Seaport Res Ptn cut Global Payments from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. Finally, TD Cowen cut their price target on Global Payments from $125.00 to $122.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $140.23.

Insider Activity at Global Payments

In related news, CAO David M. Sheffield sold 1,651 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $100.73, for a total transaction of $166,305.23. Following the transaction, the chief accounting officer now directly owns 20,531 shares of the company’s stock, valued at approximately $2,068,087.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.98% of the stock is currently owned by corporate insiders.

Global Payments Profile

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.