Sage Capital Advisors llc raised its position in Global Payments Inc. (NYSE:GPN – Free Report) by 0.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,878 shares of the business services provider’s stock after buying an additional 146 shares during the quarter. Sage Capital Advisors llc’s holdings in Global Payments were worth $2,747,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of GPN. Gradient Investments LLC increased its stake in Global Payments by 9.5% during the 2nd quarter. Gradient Investments LLC now owns 133,806 shares of the business services provider’s stock worth $13,183,000 after acquiring an additional 11,608 shares during the period. Cardinal Capital Management Inc. boosted its stake in Global Payments by 0.7% in the second quarter. Cardinal Capital Management Inc. now owns 100,076 shares of the business services provider’s stock valued at $9,859,000 after buying an additional 720 shares in the last quarter. Thompson Investment Management Inc. grew its position in Global Payments by 1.4% in the second quarter. Thompson Investment Management Inc. now owns 21,846 shares of the business services provider’s stock valued at $2,152,000 after acquiring an additional 303 shares during the last quarter. AE Wealth Management LLC raised its stake in Global Payments by 114.5% during the second quarter. AE Wealth Management LLC now owns 48,962 shares of the business services provider’s stock worth $4,824,000 after acquiring an additional 26,131 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in shares of Global Payments by 36.1% in the 2nd quarter. SG Americas Securities LLC now owns 24,347 shares of the business services provider’s stock valued at $2,399,000 after purchasing an additional 6,453 shares in the last quarter. 85.23% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities analysts have issued reports on the company. Truist Financial upped their target price on Global Payments from $145.00 to $160.00 and gave the stock a “buy” rating in a report on Tuesday, August 22nd. Raymond James lowered their price objective on shares of Global Payments from $156.00 to $155.00 and set an “outperform” rating on the stock in a report on Wednesday, August 2nd. Morgan Stanley raised their price target on shares of Global Payments from $144.00 to $146.00 and gave the company an “overweight” rating in a research report on Wednesday, August 2nd. Mizuho lifted their price objective on shares of Global Payments from $100.00 to $123.00 and gave the stock a “neutral” rating in a report on Wednesday, August 2nd. Finally, Jefferies Financial Group upgraded Global Payments from a “hold” rating to a “buy” rating and boosted their target price for the stock from $125.00 to $145.00 in a research note on Thursday, August 10th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $147.23.
Global Payments Price Performance
GPN stock traded down $0.86 during mid-day trading on Tuesday, reaching $122.44. 212,871 shares of the company traded hands, compared to its average volume of 2,016,759. Global Payments Inc. has a 52-week low of $92.27 and a 52-week high of $129.70. The company has a market capitalization of $31.83 billion, a P/E ratio of 41.10, a P/E/G ratio of 0.86 and a beta of 0.97. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.08 and a quick ratio of 1.08. The company has a fifty day moving average price of $120.29 and a 200-day moving average price of $109.01.
Global Payments (NYSE:GPN – Get Free Report) last issued its quarterly earnings data on Tuesday, August 1st. The business services provider reported $2.62 EPS for the quarter, beating the consensus estimate of $2.43 by $0.19. The company had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.19 billion. Global Payments had a net margin of 8.65% and a return on equity of 10.98%. Global Payments’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.23 earnings per share. As a group, analysts anticipate that Global Payments Inc. will post 9.68 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, September 29th. Stockholders of record on Friday, September 15th will be issued a $0.25 dividend. The ex-dividend date is Thursday, September 14th. This represents a $1.00 annualized dividend and a dividend yield of 0.82%. Global Payments’s payout ratio is currently 33.33%.
Insider Buying and Selling
In other Global Payments news, CAO David M. Sheffield sold 2,016 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $119.47, for a total value of $240,851.52. Following the transaction, the chief accounting officer now directly owns 25,045 shares in the company, valued at approximately $2,992,126.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO David M. Sheffield sold 2,016 shares of Global Payments stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $119.47, for a total transaction of $240,851.52. Following the completion of the sale, the chief accounting officer now owns 25,045 shares in the company, valued at approximately $2,992,126.15. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Joshua J. Whipple sold 37,096 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $127.28, for a total transaction of $4,721,578.88. Following the completion of the transaction, the chief financial officer now owns 39,772 shares in the company, valued at $5,062,180.16. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company 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 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.
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