Quarry LP Acquires 293 Shares of Global Payments Inc. (NYSE:GPN)

Quarry LP boosted its stake in shares of Global Payments Inc. (NYSE:GPN) by 134.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 511 shares of the business services provider’s stock after buying an additional 293 shares during the period. Quarry LP’s holdings in Global Payments were worth $49,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. The Manufacturers Life Insurance Company boosted its position in Global Payments by 1.0% during the fourth quarter. The Manufacturers Life Insurance Company now owns 192,025 shares of the business services provider’s stock valued at $24,392,000 after purchasing an additional 1,863 shares in the last quarter. Lake Street Advisors Group LLC purchased a new stake in shares of Global Payments during the fourth quarter valued at about $210,000. Capital International Investors boosted its holdings in shares of Global Payments by 1.3% in the 4th quarter. Capital International Investors now owns 1,031,108 shares of the business services provider’s stock valued at $130,951,000 after buying an additional 13,189 shares in the last quarter. Tower Research Capital LLC TRC grew its position in shares of Global Payments by 122.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 41,191 shares of the business services provider’s stock worth $5,231,000 after buying an additional 22,669 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado raised its stake in shares of Global Payments by 531.5% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 39,445 shares of the business services provider’s stock worth $5,010,000 after acquiring an additional 33,199 shares in the last quarter. Institutional investors own 89.76% of the company’s stock.

Global Payments Trading Up 0.5 %

Global Payments stock opened at $98.65 on Friday. The firm has a market cap of $25.18 billion, a PE ratio of 19.57, a P/E/G ratio of 0.71 and a beta of 0.98. Global Payments Inc. has a 12 month low of $91.60 and a 12 month high of $141.77. The stock’s 50 day simple moving average is $105.54 and its two-hundred day simple moving average is $108.19. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.68.

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

Global Payments Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date was Friday, September 13th. Global Payments’s dividend payout ratio (DPR) is presently 19.84%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Evercore ISI cut their price target on shares of Global Payments from $170.00 to $160.00 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. Barclays reduced their target price on Global Payments from $145.00 to $120.00 and set an “overweight” rating on the stock in a research report on Monday, September 30th. BNP Paribas raised Global Payments to a “strong sell” rating in a report on Wednesday, September 4th. StockNews.com downgraded shares of Global Payments from a “buy” rating to a “hold” rating in a report on Thursday, September 26th. Finally, BMO Capital Markets lowered their target price on shares of Global Payments from $126.00 to $122.00 and set a “market perform” rating for the company in a research note on Wednesday, September 25th. One 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. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $139.55.

Insider Activity at Global Payments

In other Global Payments news, CAO David M. Sheffield sold 1,651 shares of the firm’s stock in a transaction that occurred on 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 directly owns 20,531 shares of the company’s stock, valued at approximately $2,068,087.63. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.98% of the stock is 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.