Global Payments Inc. (NYSE:GPN) Stock Position Decreased by SVB Wealth LLC

SVB Wealth LLC lowered its holdings in Global Payments Inc. (NYSE:GPN) by 9.2% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,467 shares of the business services provider’s stock after selling 754 shares during the period. SVB Wealth LLC’s holdings in Global Payments were worth $998,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of GPN. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Global Payments during the fourth quarter valued at about $30,000. LRI Investments LLC acquired a new position in Global Payments during the 1st quarter valued at about $32,000. West Paces Advisors Inc. raised its position in shares of 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 buying an additional 109 shares in the last quarter. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Global Payments in the 4th quarter worth approximately $41,000. Finally, North Star Investment Management Corp. boosted its holdings in shares of Global Payments by 154.7% in the first quarter. North Star Investment Management Corp. now owns 354 shares of the business services provider’s stock valued at $47,000 after acquiring an additional 215 shares in the last quarter. 89.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Global Payments

In other Global Payments news, VP Andrea M. Carter sold 3,300 shares of the company’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $111.34, for a total value of $367,422.00. Following the sale, the vice president now directly owns 25,209 shares in the company, valued at $2,806,770.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GPN. Keefe, Bruyette & Woods cut their price target on shares of Global Payments from $150.00 to $140.00 and set an “outperform” rating for the company in a report on Monday, July 8th. TD Cowen lowered their price target on Global Payments from $152.00 to $125.00 and set a “buy” rating on the stock in a report on Friday, June 21st. Morgan Stanley upped their price objective on shares of Global Payments from $160.00 to $164.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. KeyCorp cut their price target on Global Payments from $155.00 to $145.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. Finally, Citigroup cut their price target on shares of Global Payments from $163.00 to $155.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-one have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $145.32.

Global Payments Stock Performance

Shares of GPN traded up $0.38 on Monday, reaching $101.57. 1,135,000 shares of the stock traded hands, compared to its average volume of 2,302,129. The stock’s 50-day moving average price is $98.36 and its 200-day moving average price is $117.36. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a market cap of $25.93 billion, a price-to-earnings ratio of 20.08, a P/E/G ratio of 0.65 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.

Global Payments (NYSE:GPN) last announced its quarterly earnings results on Wednesday, May 1st. The business services provider reported $2.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.41 by $0.07. Global Payments had a net margin of 13.40% and a return on equity of 11.72%. The firm had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.17 billion. Equities analysts forecast that Global Payments Inc. will post 11.09 EPS for the current fiscal year.

Global Payments Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend was Friday, June 14th. Global Payments’s dividend payout ratio is 19.84%.

About Global Payments

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.