Larry Robbins’ 10 Best Stocks to Buy Now

4. Global Payments Inc. (NYSE:GPN)

Total Number of Shares Owned: 3,118,320

Total Value of Shares Owned: $301,541,544

Number of Hedge Fund Investors: 66

Global Payments Inc. (NYSE:GPN) stands out as an attractive investment opportunity, thanks to its strong financial performance and strategic growth initiatives. In its Q2 2024 earnings report, Global Payments Inc. (NYSE:GPN) announced revenues of $2.1 billion, marking a 10% increase from the previous year. Additionally, Global Payments Inc. (NYSE:GPN) adjusted earnings per share (EPS) rose to $1.45, surpassing analyst expectations and highlighting effective cost management and operational efficiency.

A significant factor driving Global Payments Inc. (NYSE:GPN)’ growth is its focus on enhancing technology and integrated payment solutions. Global Payments Inc. (NYSE:GPN) has been investing in software capabilities and forming partnerships that improve service offerings for merchants. Recent acquisitions, particularly of smaller tech firms, are expected to generate valuable synergies and strengthen Global Payments Inc. (NYSE:GPN)’ competitive position.

The shift toward digital payments and e-commerce is another positive trend for Global Payments Inc. (NYSE:GPN), as more businesses are adopting electronic transaction solutions. The increasing consumer preference for contactless and online payment options positions Global Payments Inc. (NYSE:GPN) well for ongoing growth. Furthermore, Global Payments Inc. (NYSE:GPN) is actively expanding into global markets that are less saturated, which opens up additional revenue opportunities.

Recently, Global Payments Inc. (NYSE:GPN) announced a strategic partnership with a major e-commerce platform to enhance its payment processing capabilities. This collaboration is anticipated to attract new customers and drive transaction volumes, reinforcing Global Payments Inc. (NYSE:GPN)’ role as a leader in the payment solutions industry. Additionally, Global Payments Inc. (NYSE:GPN) exploration of cryptocurrency payment options demonstrates a commitment to staying ahead of emerging trends.

Parnassus Value Equity Fund stated the following regarding Global Payments Inc. (NYSE:GPN) in its Q2 2024 investor letter:

Global Payments Inc. (NYSE:GPN) stock fell on investor fears that a slowing economy could weigh on payment processing companies. The company will host an investor day focused on improving efficiencies and strategic redeployment of assets in the fall, which we believe will unlock hidden value in the undervalued shares.”