Edge Capital Group LLC Buys 392 Shares of Global Payments Inc. (NYSE:GPN)

Edge Capital Group LLC lifted its stake in Global Payments Inc. (NYSE:GPN) by 5.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,646 shares of the business services provider’s stock after purchasing an additional 392 shares during the quarter. Edge Capital Group LLC’s holdings in Global Payments were worth $739,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Fidelis Capital Partners LLC lifted its position in Global Payments by 5.1% in the 1st quarter. Fidelis Capital Partners LLC now owns 1,930 shares of the business services provider’s stock valued at $258,000 after acquiring an additional 93 shares in the last quarter. Oliver Luxxe Assets LLC lifted its position in Global Payments by 0.3% in the 1st quarter. Oliver Luxxe Assets LLC now owns 34,435 shares of the business services provider’s stock valued at $4,603,000 after acquiring an additional 108 shares in the last quarter. West Paces Advisors Inc. lifted its position in Global Payments by 54.5% in the 1st quarter. West Paces Advisors Inc. now owns 309 shares of the business services provider’s stock valued at $41,000 after acquiring an additional 109 shares in the last quarter. KFG Wealth Management LLC lifted its position in Global Payments by 6.4% in the 1st quarter. KFG Wealth Management LLC now owns 1,883 shares of the business services provider’s stock valued at $252,000 after acquiring an additional 114 shares in the last quarter. Finally, Wedmont Private Capital lifted its position in Global Payments by 0.9% in the 1st quarter. Wedmont Private Capital now owns 13,859 shares of the business services provider’s stock valued at $1,776,000 after acquiring an additional 119 shares in the last quarter. 89.76% of the stock is owned by institutional investors.

Insider Activity

In related news, CAO David M. Sheffield sold 1,651 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $100.73, for a total transaction of $166,305.23. Following the completion of the transaction, the chief accounting officer now owns 20,531 shares in the company, valued at $2,068,087.63. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.98% of the company’s stock.

Wall Street Analyst Weigh In

GPN has been the topic of several analyst reports. StockNews.com raised Global Payments from a “hold” rating to a “buy” rating in a research report on Wednesday, September 18th. Evercore ISI lowered their price objective on Global Payments from $170.00 to $160.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. William Blair upgraded shares of Global Payments to a “strong-buy” rating in a research note on Wednesday, August 7th. Susquehanna reiterated a “positive” rating and set a $147.00 target price on shares of Global Payments in a research note on Tuesday, September 17th. Finally, BMO Capital Markets boosted their target price on shares of Global Payments from $124.00 to $126.00 and gave the company a “market perform” rating in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $142.59.

Global Payments Trading Down 2.0 %

NYSE:GPN opened at $110.69 on Monday. The firm has a market capitalization of $28.25 billion, a price-to-earnings ratio of 21.96, a price-to-earnings-growth ratio of 0.70 and a beta of 0.98. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.92 and a quick ratio of 0.92. The business has a fifty day moving average price of $105.52 and a 200-day moving average price of $110.01. Global Payments Inc. has a one year low of $91.60 and a one year high of $141.77.

Global Payments (NYSE:GPN) last announced its quarterly earnings data on Wednesday, August 7th. The business services provider reported $2.93 EPS 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 business had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same period in the previous year, the business earned $2.48 earnings per share. The business’s revenue was up 4.7% on a year-over-year basis. Sell-side analysts forecast that Global Payments Inc. will post 11.07 EPS for the current year.

Global Payments Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend is Friday, September 13th. Global Payments’s dividend payout ratio (DPR) is currently 19.84%.

About Global Payments

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.