Byrne Asset Management LLC Purchases Shares of 1,010 Global Payments Inc. $GPN

Byrne Asset Management LLC bought a new stake in shares of Global Payments Inc. (NYSE:GPN) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,010 shares of the business services provider’s stock, valued at approximately $81,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Perigon Wealth Management LLC increased its stake in shares of Global Payments by 3.8% in the 1st quarter. Perigon Wealth Management LLC now owns 3,932 shares of the business services provider’s stock worth $385,000 after purchasing an additional 144 shares in the last quarter. Transcend Capital Advisors LLC grew its holdings in Global Payments by 7.9% during the first quarter. Transcend Capital Advisors LLC now owns 2,135 shares of the business services provider’s stock valued at $209,000 after purchasing an additional 157 shares during the period. MassMutual Private Wealth & Trust FSB increased its position in Global Payments by 5.5% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 3,027 shares of the business services provider’s stock worth $242,000 after buying an additional 158 shares in the last quarter. Pinnacle Associates Ltd. raised its stake in shares of Global Payments by 4.1% in the first quarter. Pinnacle Associates Ltd. now owns 4,342 shares of the business services provider’s stock worth $425,000 after buying an additional 171 shares during the period. Finally, Vident Advisory LLC lifted its position in shares of Global Payments by 1.7% during the 4th quarter. Vident Advisory LLC now owns 10,382 shares of the business services provider’s stock valued at $1,163,000 after buying an additional 172 shares in the last quarter. 89.76% of the stock is currently owned by institutional investors.

Global Payments Trading Down 1.2%

Shares of NYSE GPN opened at $84.29 on Tuesday. Global Payments Inc. has a 1-year low of $65.93 and a 1-year high of $120.00. The stock has a market capitalization of $20.45 billion, a P/E ratio of 14.74, a price-to-earnings-growth ratio of 0.81 and a beta of 0.97. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. The business has a fifty day moving average price of $84.23 and a 200 day moving average price of $83.68.

Global Payments (NYSE:GPN) last announced its earnings results on Wednesday, August 6th. The business services provider reported $3.10 earnings per share for the quarter, topping the consensus estimate of $3.06 by $0.04. The firm had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.36 billion. Global Payments had a return on equity of 12.47% and a net margin of 15.07%.The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period in the previous year, the business earned $2.93 EPS. Equities research analysts expect that Global Payments Inc. will post 11.89 EPS for the current fiscal year.

Global Payments Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be paid a $0.25 dividend. The ex-dividend date is Friday, September 12th. This represents a $1.00 dividend on an annualized basis and a yield of 1.2%. Global Payments’s dividend payout ratio (DPR) is 17.48%.

Insider Buying and Selling

In other Global Payments news, General Counsel Dara L. Steele-Belkin sold 2,000 shares of the business’s stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $86.00, for a total transaction of $172,000.00. Following the sale, the general counsel owned 30,713 shares in the company, valued at approximately $2,641,318. The trade was a 6.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.01% of the company’s stock.

Analyst Upgrades and Downgrades

GPN has been the subject of several analyst reports. TD Cowen lowered shares of Global Payments from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 21st. B. Riley reiterated a “buy” rating on shares of Global Payments in a research report on Wednesday, July 16th. Keefe, Bruyette & Woods increased their price objective on shares of Global Payments from $81.00 to $85.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 9th. JPMorgan Chase & Co. lifted their target price on shares of Global Payments from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Thursday, August 7th. Finally, UBS Group increased their price target on Global Payments from $85.00 to $93.00 and gave the stock a “neutral” rating in a research note on Thursday, August 7th. Ten equities research analysts have rated the stock with a Buy rating and nineteen have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $112.21.

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.