Mattson Financial Services LLC Makes New $1.86 Million Investment in Global Payments Inc. (NYSE:GPN)

Mattson Financial Services LLC bought a new position in Global Payments Inc. (NYSE:GPN) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 19,178 shares of the business services provider’s stock, valued at approximately $1,855,000.

Several other institutional investors have also made changes to their positions in GPN. New Covenant Trust Company N.A. purchased a new position in Global Payments during the first quarter valued at approximately $31,000. LRI Investments LLC purchased a new position in shares of Global Payments during the 1st quarter valued at $32,000. POM Investment Strategies LLC acquired a new position in shares of Global Payments in the second quarter worth $32,000. West Paces Advisors Inc. increased its stake in shares of Global Payments by 54.5% in the first quarter. West Paces Advisors Inc. now owns 309 shares of the business services provider’s stock worth $41,000 after acquiring an additional 109 shares during the last quarter. Finally, North Star Investment Management Corp. raised its holdings in shares of Global Payments by 154.7% during the first quarter. North Star Investment Management Corp. now owns 354 shares of the business services provider’s stock worth $47,000 after acquiring an additional 215 shares in the last quarter. 89.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Barclays dropped their price objective on Global Payments from $145.00 to $120.00 and set an “overweight” rating on the stock in a report on Monday. TD Cowen dropped their target price on shares of Global Payments from $125.00 to $122.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. Stephens reiterated an “overweight” rating and set a $130.00 price target on shares of Global Payments in a report on Wednesday, September 18th. William Blair downgraded Global Payments from an “outperform” rating to a “market perform” rating in a research report on Wednesday, September 25th. Finally, StockNews.com downgraded Global Payments from a “buy” rating to a “hold” rating in a research report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Global Payments currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.23.

Insider Activity

In other news, CAO David M. Sheffield sold 1,651 shares of the business’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 sale, the chief accounting officer now owns 20,531 shares of the company’s stock, valued at approximately $2,068,087.63. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.98% of the stock is owned by corporate insiders.

Global Payments Price Performance

Shares of Global Payments stock opened at $97.66 on Thursday. The company has a fifty day moving average of $105.61 and a 200-day moving average of $108.49. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.92 and a current ratio of 0.92. Global Payments Inc. has a 52-week low of $91.60 and a 52-week high of $141.77. The stock has a market capitalization of $24.93 billion, a price-to-earnings ratio of 19.38, a price-to-earnings-growth ratio of 0.71 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 for the quarter, beating the consensus estimate of $2.90 by $0.03. Global Payments had a net margin of 14.26% and a return on equity of 11.93%. The business had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.32 billion. During the same quarter in the previous year, the business posted $2.48 earnings per share. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. Equities research analysts expect that Global Payments Inc. will post 11.07 EPS for the current year.

Global Payments Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date was Friday, September 13th. Global Payments’s payout ratio is 19.84%.

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.