Evergreen Capital Management LLC Has $2.35 Million Position in Global Payments Inc. (NYSE:GPN)

Evergreen Capital Management LLC grew its stake in Global Payments Inc. (NYSE:GPN) by 2.7% during the second quarter, HoldingsChannel reports. The firm owned 24,329 shares of the business services provider’s stock after buying an additional 632 shares during the quarter. Evergreen Capital Management LLC’s holdings in Global Payments were worth $2,353,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in GPN. New Covenant Trust Company N.A. bought a new position in Global Payments during the 1st quarter worth approximately $31,000. LRI Investments LLC acquired a new stake in Global Payments in the 1st quarter valued at $32,000. POM Investment Strategies LLC purchased a new position in Global Payments during the 2nd quarter worth $32,000. West Paces Advisors Inc. boosted its holdings in Global Payments by 54.5% during the 1st 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 stake 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 worth $47,000 after purchasing an additional 215 shares during the period. Institutional investors own 89.76% of the company’s stock.

Global Payments Stock Up 0.3 %

Shares of NYSE GPN opened at $110.99 on Tuesday. Global Payments Inc. has a 12 month low of $91.60 and a 12 month high of $141.77. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $28.33 billion, a price-to-earnings ratio of 22.02, a PEG ratio of 0.70 and a beta of 0.98. The business has a 50-day moving average of $105.75 and a 200-day moving average of $109.88.

Global Payments (NYSE:GPN) last issued its quarterly earnings data on Wednesday, August 7th. The business services provider reported $2.93 EPS for the quarter, topping the consensus estimate of $2.90 by $0.03. The company had revenue of $2.57 billion during the quarter, compared to analyst estimates of $2.32 billion. Global Payments had a return on equity of 11.93% and a net margin of 14.26%. Global Payments’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.48 earnings per share. Sell-side analysts expect that Global Payments Inc. will post 11.07 earnings per share for the current fiscal year.

Global Payments Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend is Friday, September 13th. Global Payments’s dividend payout ratio is currently 19.84%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. StockNews.com upgraded Global Payments from a “hold” rating to a “buy” rating in a research note on Wednesday, September 18th. Royal Bank of Canada lowered their price objective on Global Payments from $172.00 to $158.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. BMO Capital Markets boosted their price objective on Global Payments from $124.00 to $126.00 and gave the company a “market perform” rating in a research note on Thursday, August 8th. TD Cowen lowered their price objective on Global Payments from $152.00 to $125.00 and set a “buy” rating on the stock in a research note on Friday, June 21st. Finally, Stephens restated an “overweight” rating and issued a $130.00 price objective on shares of Global Payments in a research note on Wednesday, September 18th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Global Payments currently has an average rating of “Moderate Buy” and an average target price of $142.59.

Insider Buying and Selling at Global Payments

In other Global Payments news, CAO David M. Sheffield sold 1,651 shares of the business’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 completion of the sale, the chief accounting officer now owns 20,531 shares in the company, valued at $2,068,087.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.98% of the company’s stock.

Global Payments 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.