Los Angeles Capital Management LLC Boosts Stock Position in Global Payments Inc. (NYSE:GPN)

Los Angeles Capital Management LLC raised its position in Global Payments Inc. (NYSE:GPN) by 532.3% during the second quarter, Holdings Channel.com reports. The firm owned 12,797 shares of the business services provider’s stock after buying an additional 10,773 shares during the period. Los Angeles Capital Management LLC’s holdings in Global Payments were worth $1,237,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Lake Street Advisors Group LLC purchased a new position in shares of Global Payments during the fourth quarter valued at approximately $210,000. Cibc World Markets Corp lifted its stake in shares of Global Payments by 29.1% during the 4th quarter. Cibc World Markets Corp now owns 82,672 shares of the business services provider’s stock worth $10,499,000 after purchasing an additional 18,615 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Global Payments by 6.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 255,468 shares of the business services provider’s stock worth $32,064,000 after purchasing an additional 15,655 shares during the period. Foundations Investment Advisors LLC acquired a new stake in shares of Global Payments during the fourth quarter worth $212,000. Finally, CANADA LIFE ASSURANCE Co grew its position in shares of Global Payments by 12.3% in the first quarter. CANADA LIFE ASSURANCE Co now owns 267,483 shares of the business services provider’s stock valued at $35,775,000 after purchasing an additional 29,289 shares during the period. 89.76% of the stock is owned by institutional investors and hedge funds.

Global Payments Trading Down 0.0 %

GPN opened at $109.33 on Thursday. The firm’s 50 day moving average is $103.42 and its 200-day moving average is $111.08. Global Payments Inc. has a 52-week low of $91.60 and a 52-week high of $141.77. 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 firm has a market capitalization of $27.82 billion, a P/E ratio of 21.69, a P/E/G ratio of 0.69 and a beta of 0.98.

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

Global Payments Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend is Friday, September 13th. Global Payments’s dividend payout ratio (DPR) is 19.84%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. TD Cowen reduced their target price on Global Payments from $152.00 to $125.00 and set a “buy” rating on the stock in a research report on Friday, June 21st. William Blair raised shares of Global Payments to a “strong-buy” rating in a research report on Wednesday, August 7th. Royal Bank of Canada dropped their price target on shares of Global Payments from $172.00 to $158.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Stephens cut their price target on shares of Global Payments from $145.00 to $130.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Finally, Wells Fargo & Company started coverage on shares of Global Payments in a research note on Wednesday, June 12th. They set an “equal weight” rating and a $100.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Global Payments currently has an average rating of “Moderate Buy” and an average target price of $140.96.

Insider Activity at Global Payments

In other Global Payments news, CAO David M. Sheffield sold 1,651 shares of Global Payments stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $100.73, for a total transaction of $166,305.23. Following the sale, the chief accounting officer now directly owns 20,531 shares in the company, valued at approximately $2,068,087.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.98% of the stock is currently owned by company insiders.

Global Payments Company 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.