Caprock Group LLC Has $303,000 Stock Holdings in Global Payments Inc. (NYSE:GPN)

Caprock Group LLC boosted its position in shares of Global Payments Inc. (NYSE:GPN) by 31.0% in the second quarter, Holdings Channel reports. The firm owned 3,133 shares of the business services provider’s stock after purchasing an additional 741 shares during the period. Caprock Group LLC’s holdings in Global Payments were worth $303,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. New Covenant Trust Company N.A. acquired a new position in shares of Global Payments in the 1st quarter valued at $31,000. LRI Investments LLC acquired a new position in Global Payments in the first quarter valued at about $32,000. POM Investment Strategies LLC bought a new stake in shares of Global Payments in the second quarter worth about $32,000. West Paces Advisors Inc. raised its position in shares of Global Payments by 54.5% during the first quarter. West Paces Advisors Inc. now owns 309 shares of the business services provider’s stock worth $41,000 after purchasing an additional 109 shares during the period. Finally, North Star Investment Management Corp. lifted its holdings in shares of Global Payments by 154.7% during the 1st quarter. North Star Investment Management Corp. now owns 354 shares of the business services provider’s stock valued at $47,000 after purchasing an additional 215 shares in the last quarter. Institutional investors own 89.76% of the company’s stock.

Insider Activity at Global Payments

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

Global Payments Price Performance

Shares of GPN opened at $109.33 on Friday. The firm has a 50 day simple moving average of $103.68 and a two-hundred day simple moving average of $111.07. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.92 and a quick ratio of 0.92. Global Payments Inc. has a one year low of $91.60 and a one year high of $141.77. The company has a market cap of $27.91 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 data on Wednesday, August 7th. The business services provider reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.90 by $0.03. Global Payments had a return on equity of 11.93% and a net margin of 14.26%. The company had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter last year, the business posted $2.48 EPS. Global Payments’s revenue for the quarter was up 4.7% on a year-over-year basis. Research analysts forecast that Global Payments Inc. will post 11.07 EPS for the current fiscal year.

Global Payments Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Friday, September 13th. This represents a $1.00 annualized dividend and a dividend yield of 0.91%. Global Payments’s dividend payout ratio is 19.84%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Stephens dropped their target price on shares of Global Payments from $145.00 to $130.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Wells Fargo & Company started coverage on shares of Global Payments in a research report on Wednesday, June 12th. They issued an “equal weight” rating and a $100.00 price objective on the stock. JPMorgan Chase & Co. increased their target price on Global Payments from $111.00 to $118.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Evercore ISI cut their price target on Global Payments from $170.00 to $160.00 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. Finally, BMO Capital Markets upped their price objective on Global Payments from $124.00 to $126.00 and gave the stock a “market perform” rating in a research report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $140.96.

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.