EverSource Wealth Advisors LLC Purchases 237 Shares of Global Payments Inc. (NYSE:GPN)

EverSource Wealth Advisors LLC grew its position in shares of Global Payments Inc. (NYSE:GPN) by 7.1% in the second quarter, according to its most recent filing with the SEC. The fund owned 3,564 shares of the business services provider’s stock after acquiring an additional 237 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Global Payments were worth $362,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Lake Street Advisors Group LLC bought a new position in shares of Global Payments during the 4th quarter valued at approximately $210,000. Cibc World Markets Corp lifted its position in Global Payments by 29.1% in the fourth quarter. Cibc World Markets Corp now owns 82,672 shares of the business services provider’s stock worth $10,499,000 after buying an additional 18,615 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its position in Global Payments by 12.3% in the first quarter. CANADA LIFE ASSURANCE Co now owns 267,483 shares of the business services provider’s stock worth $35,775,000 after buying an additional 29,289 shares during the last quarter. LRI Investments LLC bought a new stake in Global Payments in the first quarter worth $32,000. Finally, State Board of Administration of Florida Retirement System lifted its position in Global Payments by 8.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 302,364 shares of the business services provider’s stock worth $40,414,000 after buying an additional 24,415 shares during the last quarter. 89.76% of the stock is currently owned by institutional investors.

Global Payments Price Performance

Shares of GPN stock opened at $103.83 on Wednesday. Global Payments Inc. has a 1-year low of $91.60 and a 1-year high of $141.77. The stock’s 50-day moving average is $105.76 and its 200 day moving average is $109.70. The company has a market cap of $26.50 billion, a P/E ratio of 20.60, a PEG 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.

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

Global Payments Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date is Friday, September 13th. Global Payments’s payout ratio is currently 19.84%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on GPN shares. StockNews.com upgraded Global Payments from a “hold” rating to a “buy” rating in a research report on Wednesday, September 18th. JPMorgan Chase & Co. raised their price target on Global Payments from $111.00 to $118.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Royal Bank of Canada reduced their target price 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. William Blair upgraded Global Payments to a “strong-buy” rating in a research note on Wednesday, August 7th. Finally, BNP Paribas upgraded Global Payments to a “strong sell” rating in a research note on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Global Payments presently has a consensus rating of “Moderate Buy” and an average target price of $142.59.

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 dated 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 of the company’s stock, valued at $2,068,087.63. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.98% of the stock is 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.