Global Payments Inc. (NYSE:GPN) Shares Purchased by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC increased its position in shares of Global Payments Inc. (NYSE:GPN) by 1.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 25,821 shares of the business services provider’s stock after acquiring an additional 440 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Global Payments were worth $2,645,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Hengehold Capital Management LLC acquired a new position in shares of Global Payments in the 1st quarter valued at $243,000. WoodTrust Financial Corp acquired a new position in shares of Global Payments during the 1st quarter valued at $200,000. Oliver Luxxe Assets LLC lifted its holdings in shares of Global Payments by 0.3% during the 1st quarter. Oliver Luxxe Assets LLC now owns 34,435 shares of the business services provider’s stock valued at $4,603,000 after acquiring an additional 108 shares in the last quarter. Miracle Mile Advisors LLC acquired a new position in shares of Global Payments during the 1st quarter valued at $203,000. Finally, Talbot Financial LLC lifted its holdings in shares of Global Payments by 7.5% during the 1st quarter. Talbot Financial LLC now owns 50,183 shares of the business services provider’s stock valued at $6,707,000 after acquiring an additional 3,494 shares in the last quarter. Institutional investors and hedge funds own 89.76% of the company’s stock.

Global Payments Price Performance

Shares of NYSE:GPN opened at $99.88 on Thursday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.68. Global Payments Inc. has a fifty-two week low of $91.60 and a fifty-two week high of $141.77. The firm has a 50-day simple moving average of $105.69 and a 200 day simple moving average of $105.26. The company has a market cap of $25.49 billion, a PE ratio of 19.82, a P/E/G ratio of 0.74 and a beta of 0.98.

Global Payments (NYSE:GPN) last announced 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 net margin of 14.26% and a return on equity of 11.93%. The business had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter in the prior year, the firm earned $2.48 EPS. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Global Payments Inc. will post 11.07 EPS for the current year.

Global Payments Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on GPN. Monness Crespi & Hardt reduced their target price on shares of Global Payments from $165.00 to $155.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. BTIG Research lowered shares of Global Payments from a “buy” rating to a “neutral” rating in a report on Wednesday, September 25th. B. Riley reduced their target price on shares of Global Payments from $204.00 to $194.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. Sanford C. Bernstein downgraded shares of Global Payments from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $135.00 to $112.00 in a research note on Tuesday. Finally, Barclays dropped their price target on shares of Global Payments from $145.00 to $120.00 and set an “overweight” rating on the stock in a research note on Monday, September 30th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Global Payments presently has an average rating of “Moderate Buy” and a consensus target price of $137.65.

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 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 transaction, the chief accounting officer now directly owns 20,531 shares of the company’s stock, valued at $2,068,087.63. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.98% of the stock is currently owned by company insiders.

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.