Pallas Capital Advisors LLC Has $485,000 Stock Holdings in Global Payments Inc. (NYSE:GPN)

Pallas Capital Advisors LLC grew its holdings in Global Payments Inc. (NYSE:GPN) by 11.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,872 shares of the business services provider’s stock after acquiring an additional 482 shares during the period. Pallas Capital Advisors LLC’s holdings in Global Payments were worth $485,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Cromwell Holdings LLC bought a new stake in Global Payments in the third quarter worth approximately $25,000. New Covenant Trust Company N.A. bought a new stake in Global Payments in the first quarter worth approximately $31,000. LRI Investments LLC bought a new stake in Global Payments in the first quarter worth approximately $32,000. POM Investment Strategies LLC bought a new stake in Global Payments in the second quarter worth approximately $32,000. Finally, Whittier Trust Co. of Nevada Inc. grew its position in Global Payments by 59.6% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 383 shares of the business services provider’s stock worth $39,000 after acquiring an additional 143 shares in the last quarter. 89.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have commented on GPN shares. Oppenheimer started coverage on shares of Global Payments in a research report on Tuesday, October 1st. They issued a “market perform” rating for the company. Barclays decreased their price objective on shares of Global Payments from $145.00 to $120.00 and set an “overweight” rating for the company in a report on Monday, September 30th. JPMorgan Chase & Co. decreased their price objective on shares of Global Payments from $118.00 to $115.00 and set a “neutral” rating for the company in a report on Tuesday. Jefferies Financial Group decreased their price objective on shares of Global Payments from $130.00 to $120.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. Finally, Monness Crespi & Hardt decreased their price objective on shares of Global Payments from $165.00 to $155.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $137.52.

Global Payments Trading Up 4.4 %

Shares of GPN stock opened at $103.37 on Thursday. Global Payments Inc. has a 52-week low of $91.60 and a 52-week high of $141.77. The stock has a market cap of $26.39 billion, a price-to-earnings ratio of 20.51, a P/E/G ratio of 0.74 and a beta of 0.98. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a fifty day moving average of $104.84 and a 200-day moving average of $104.37.

Global Payments (NYSE:GPN) last announced its quarterly earnings data on Wednesday, August 7th. The business services provider reported $2.93 earnings per share (EPS) for the quarter, beating 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 company had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.32 billion. During the same quarter in the prior year, the company posted $2.48 EPS. The business’s revenue was up 4.7% on a year-over-year basis. On average, equities research analysts forecast that Global Payments Inc. will post 11.06 earnings per share for the current fiscal year.

Global Payments Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.97%. Global Payments’s dividend payout ratio (DPR) is currently 19.84%.

Insider Buying and Selling

In related news, CAO David M. Sheffield sold 1,651 shares of the stock in a transaction dated 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 in the company, valued at $2,068,087.63. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.98% of the stock is currently owned by corporate 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.