Radnor Capital Management LLC Makes New Investment in Global Payments Inc. (NYSE:GPN)

Radnor Capital Management LLC bought a new position in shares of Global Payments Inc. (NYSE:GPNFree Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,141 shares of the business services provider’s stock, valued at approximately $211,000.

A number of other hedge funds also recently bought and sold shares of the stock. Glassman Wealth Services increased its position in shares of Global Payments by 94.3% during the first quarter. Glassman Wealth Services now owns 239 shares of the business services provider’s stock worth $25,000 after purchasing an additional 116 shares in the last quarter. Clear Street Markets LLC purchased a new position in Global Payments in the 4th quarter valued at about $27,000. Venturi Wealth Management LLC purchased a new position in Global Payments in the 1st quarter valued at about $29,000. MV Capital Management Inc. lifted its stake in Global Payments by 166.7% in the 1st quarter. MV Capital Management Inc. now owns 296 shares of the business services provider’s stock worth $31,000 after purchasing an additional 185 shares in the last quarter. Finally, Vigilant Capital Management LLC purchased a new position in Global Payments in the 1st quarter worth approximately $34,000. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Insider Activity

In other news, CFO Joshua J. Whipple sold 37,096 shares of Global Payments stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $127.28, for a total value of $4,721,578.88. Following the sale, the chief financial officer now directly owns 39,772 shares in the company, valued at $5,062,180.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Joshua J. Whipple sold 37,096 shares of the firm’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $127.28, for a total value of $4,721,578.88. Following the completion of the transaction, the chief financial officer now directly owns 39,772 shares of the company’s stock, valued at $5,062,180.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO David M. Sheffield sold 2,016 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $119.47, for a total transaction of $240,851.52. Following the completion of the transaction, the chief accounting officer now directly owns 25,045 shares of the company’s stock, valued at $2,992,126.15. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

Global Payments Stock Up 0.2 %

GPN stock traded up $0.31 during mid-day trading on Friday, hitting $125.99. 423,263 shares of the company were exchanged, compared to its average volume of 2,018,976. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.08 and a current ratio of 1.08. The firm has a market cap of $32.76 billion, a P/E ratio of 41.89, a P/E/G ratio of 0.87 and a beta of 0.97. The firm’s 50 day simple moving average is $119.92 and its 200 day simple moving average is $108.97. Global Payments Inc. has a 1-year low of $92.27 and a 1-year high of $131.05.

Global Payments (NYSE:GPNGet Free Report) last announced its earnings results on Tuesday, August 1st. The business services provider reported $2.62 EPS for the quarter, topping the consensus estimate of $2.43 by $0.19. Global Payments had a net margin of 8.65% and a return on equity of 10.98%. The firm had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same period last year, the company posted $2.23 EPS. The business’s quarterly revenue was up 7.5% on a year-over-year basis. On average, sell-side analysts predict that Global Payments Inc. will post 9.68 EPS for the current fiscal year.

Global Payments Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.79%. Global Payments’s dividend payout ratio (DPR) is presently 33.33%.

Analyst Ratings Changes

A number of analysts have issued reports on GPN shares. Oppenheimer reissued an “outperform” rating and issued a $122.00 target price on shares of Global Payments in a research report on Monday, July 24th. B. Riley initiated coverage on shares of Global Payments in a report on Friday, June 23rd. They set a “buy” rating and a $179.00 price target for the company. Raymond James dropped their target price on shares of Global Payments from $156.00 to $155.00 and set an “outperform” rating for the company in a report on Wednesday, August 2nd. Jefferies Financial Group upgraded shares of Global Payments from a “hold” rating to a “buy” rating and increased their price target for the company from $125.00 to $145.00 in a research report on Thursday, August 10th. Finally, StockNews.com began coverage on shares of Global Payments in a research report on Thursday, August 17th. They issued a “buy” rating on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat, Global Payments has a consensus rating of “Moderate Buy” and an average target price of $148.63.

Read Our Latest Stock Analysis 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 three segments: Merchant Solutions, Issuer Solutions, and Consumer 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.

Further Reading

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Institutional Ownership by Quarter for Global Payments (NYSE:GPN)

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