The Vanguard Group, Inc. recently announced the acquisition of new stake in Global Payments Inc. (NYSE:GPN). The institutional investor has increased its shareholding in the Industrials company by 15.01% to 25.36 million shares with purchase of 3.31 million shares. This fresh investment now brings its stake to 9.64% valued currently at $2.85 billion. In addition, Synovus Trust Co. NA raised its holdings by 12627.0 to 8.15 million shares. And Orbis Investment Management Ltd. has lifted its position by 10.68% or 0.6 million shares – to 6.26 million shares.
With over 2.93 million Global Payments Inc. (GPN) shares trading Tuesday and a closing price of $101.20 on the day, the dollar volume was approximately $297.02 million. The shares have shown a negative half year performance of -25.84% and its price on 03/14/23 gained nearly 5.44%. Currently, there are 265.53M common shares owned by the public and among those 260.24M shares have been available to trade.
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Insiders at the company have transacted a total of 46 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 24 of these insider trades were purchases, accounting for 164,443 shares. Insider sales of the common stock occurred on 22 occasions, with total insider shares sold totaling 180,979 shares.
The top 3 mutual fund holders in Global Payments Inc. are Vanguard Total Stock Market Index, Vanguard 500 Index Fund, and Vanguard Wellington Fund. Vanguard Total Stock Market Index owns 7.91 million shares of the company’s stock, all valued at over $887.43 million. The company bought an additional 56191.0 shares recently to bring their total holdings to about 3.01% of the shares outstanding. Vanguard 500 Index Fund bought 14831.0 shares to see its total holdings expand to 5.99 million shares valued at over $671.54 million and representing 2.27% of the shares outstanding. Vanguard Wellington Fund bought 41525.0 shares to bring its total holdings to over 5.64 million shares at a value of $632.83 million. Vanguard Wellington Fund now owns shares totaling to 2.14% of the shares outstanding.
Shares of Global Payments Inc. (NYSE: GPN) opened at $99.40, up $3.42 from a prior closing price of $95.98. However, the script later moved the day high at 101.74, up 5.44%. The company’s stock has a 5-day price change of -7.00% and 3.46% over the past three months. GPN shares are trading 1.89% year to date (YTD), with the 12-month market performance down to -20.31% lower. It has a 12-month low price of $92.27 and touched a high of $146.71 over the same period. GPN has an average intraday trading volume of 1.77 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -9.16%, -8.15%, and -11.09% respectively.
Institutional ownership of Global Payments Inc. (NYSE: GPN) shares accounts for 90.80% of the company’s 265.53M shares outstanding. Mutual fund holders own 48.70%, while other institutional holders and individual stakeholders account for 6.80% and 39.66% respectively.
It has a market capitalization of $28.02B and a beta (3y monthly) value of 1.02. The stock’s trailing 12-month PE ratio is 232.64, while the earnings-per-share (ttm) stands at $0.43. The company has a PEG of 15.39 and a Quick Ratio of 0.90 with the debt-to-equity ratio at 0.64. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.72% over the week and 2.62% over the month.
Analysts forecast that Global Payments Inc. (GPN) will achieve an EPS of $2.41 for the current quarter, $2.3 for the next quarter and $10.37 for 2023. The lowest estimate earnings-per-share for the quarter is $2.31 while analysts give the company a high EPS estimate of $2.84. Comparatively, EPS for the current quarter was $2.13 a year ago. Earnings per share for the fiscal year are expected to decrease by -87.70%, and 15.06% over the next financial year. EPS should grow at an annualized rate of 15.12% over the next five years, compared to -27.30% over the past 5-year period.
Looking at the support for the GPN, a number of firms have released research notes about the stock. Morgan Stanley stated their Overweight rating for the stock in a research note on January 17, 2023, with the firm’s price target at $124-$135. Robert W. Baird was of a view on November 14, 2022 that the stock is Neutral, while Exane BNP Paribas gave the stock Neutral rating on October 18, 2022, issuing a price target of $115. Credit Suisse on their part issued Neutral rating on July 22, 2022.
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