CX Institutional Acquires 1,803 Shares of Global Payments Inc. $GPN

CX Institutional grew its holdings in shares of Global Payments Inc. (NYSE:GPN) by 230.9% in the second quarter, HoldingsChannel reports. The fund owned 2,584 shares of the business services provider’s stock after purchasing an additional 1,803 shares during the quarter. CX Institutional’s holdings in Global Payments were worth $207,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of GPN. NBC Securities Inc. purchased a new stake in Global Payments in the 1st quarter worth $30,000. Larson Financial Group LLC lifted its stake in Global Payments by 546.6% in the 1st quarter. Larson Financial Group LLC now owns 375 shares of the business services provider’s stock worth $37,000 after purchasing an additional 317 shares in the last quarter. Zions Bancorporation National Association UT purchased a new stake in Global Payments in the 1st quarter worth $37,000. Quarry LP purchased a new stake in shares of Global Payments during the 1st quarter valued at about $42,000. Finally, Golden State Wealth Management LLC raised its position in shares of Global Payments by 4,866.7% during the 1st quarter. Golden State Wealth Management LLC now owns 447 shares of the business services provider’s stock valued at $44,000 after buying an additional 438 shares in the last quarter. Institutional investors own 89.76% of the company’s stock.

Global Payments Stock Down 0.6%

GPN stock opened at $84.43 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market cap of $20.48 billion, a PE ratio of 14.76, a P/E/G ratio of 0.80 and a beta of 0.97. The firm’s fifty day moving average is $85.15 and its 200 day moving average is $82.99. Global Payments Inc. has a one year low of $65.93 and a one year high of $120.00.

Global Payments (NYSE:GPN) last announced its earnings results on Wednesday, August 6th. The business services provider reported $3.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.06 by $0.04. Global Payments had a net margin of 15.07% and a return on equity of 12.47%. The business had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same quarter last year, the business earned $2.93 earnings per share. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, research analysts forecast that Global Payments Inc. will post 11.89 EPS for the current year.

Global Payments Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, September 12th. This represents a $1.00 dividend on an annualized basis and a yield of 1.2%. Global Payments’s payout ratio is 17.48%.

Analysts Set New Price Targets

A number of research firms recently weighed in on GPN. JPMorgan Chase & Co. increased their price objective on shares of Global Payments from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Thursday, August 7th. UBS Group upped their target price on shares of Global Payments from $85.00 to $93.00 and gave the stock a “neutral” rating in a research note on Thursday, August 7th. KeyCorp restated an “overweight” rating and issued a $100.00 target price (up from $90.00) on shares of Global Payments in a research note on Thursday, August 7th. TD Cowen downgraded shares of Global Payments from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 21st. Finally, Truist Financial increased their target price on shares of Global Payments from $79.00 to $83.00 and gave the company a “hold” rating in a research report on Thursday, July 17th. Eight research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $103.75.

Insider Activity

In other news, General Counsel Dara L. Steele-Belkin sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $86.00, for a total value of $172,000.00. Following the sale, the general counsel directly owned 30,713 shares of the company’s stock, valued at approximately $2,641,318. The trade was a 6.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.01% of the company’s stock.

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.