Koss Olinger Consulting LLC Sells 459 Shares of Global Payments Inc. $GPN

Koss Olinger Consulting LLC reduced its stake in shares of Global Payments Inc. (NYSE:GPN) by 2.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,334 shares of the business services provider’s stock after selling 459 shares during the quarter. Koss Olinger Consulting LLC’s holdings in Global Payments were worth $1,467,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of GPN. LRI Investments LLC boosted its stake in Global Payments by 53.4% in the second quarter. LRI Investments LLC now owns 382 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 133 shares during the last quarter. Larson Financial Group LLC boosted its stake in Global Payments by 546.6% in the first quarter. Larson Financial Group LLC now owns 375 shares of the business services provider’s stock valued at $37,000 after acquiring an additional 317 shares during the last quarter. Zions Bancorporation National Association UT bought a new position in Global Payments in the first quarter valued at approximately $37,000. Quarry LP bought a new position in Global Payments in the first quarter valued at approximately $42,000. Finally, Golden State Wealth Management LLC boosted its stake in Global Payments by 4,866.7% in the first quarter. Golden State Wealth Management LLC now owns 447 shares of the business services provider’s stock valued at $44,000 after acquiring an additional 438 shares during the last quarter. 89.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. TD Cowen cut shares of Global Payments from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 21st. Truist Financial raised their price objective on shares of Global Payments from $79.00 to $83.00 and gave the company a “hold” rating in a research note on Thursday, July 17th. KeyCorp cut shares of Global Payments from an “overweight” rating to a “sector weight” rating in a research note on Wednesday. Royal Bank Of Canada raised their price objective on shares of Global Payments from $86.00 to $93.00 and gave the company a “sector perform” rating in a research note on Thursday, August 7th. Finally, Evercore ISI increased their target price on shares of Global Payments from $85.00 to $90.00 and gave the stock an “in-line” rating in a report on Friday, August 8th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Global Payments currently has an average rating of “Hold” and an average price target of $103.37.

Insider Buying and Selling

In related news, General Counsel Dara L. Steele-Belkin sold 2,000 shares of the business’s stock in a transaction 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 SEC, which can be accessed through this hyperlink. Corporate insiders own 1.01% of the company’s stock.

Global Payments Trading Down 0.1%

Shares of NYSE GPN opened at $87.42 on Monday. The company’s fifty day moving average is $86.53 and its 200-day moving average is $81.85. The stock has a market cap of $21.21 billion, a price-to-earnings ratio of 15.28, a P/E/G ratio of 0.83 and a beta of 0.98. Global Payments Inc. has a twelve month low of $65.93 and a twelve month high of $120.00. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61.

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

Global Payments Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Friday, September 12th. Global Payments’s payout ratio is currently 17.48%.

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.