Global Payments Inc. $GPN Holdings Cut by Edmp Inc.

Edmp Inc. decreased its stake in Global Payments Inc. (NYSE:GPN) by 11.4% in the second quarter, Holdings Channel reports. The institutional investor owned 7,537 shares of the business services provider’s stock after selling 967 shares during the quarter. Edmp Inc.’s holdings in Global Payments were worth $603,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. LRI Investments LLC lifted its stake in shares of Global Payments by 53.4% in the 2nd quarter. LRI Investments LLC now owns 382 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 133 shares during the last quarter. Larson Financial Group LLC lifted its stake in shares of Global Payments by 546.6% in the 1st quarter. Larson Financial Group LLC now owns 375 shares of the business services provider’s stock valued at $37,000 after purchasing an additional 317 shares during the last quarter. Zions Bancorporation National Association UT acquired a new stake in shares of Global Payments in the 1st quarter valued at $37,000. Quarry LP acquired a new stake in shares of Global Payments in the 1st quarter valued at $42,000. Finally, Golden State Wealth Management LLC lifted its stake in shares of Global Payments by 4,866.7% in the 1st quarter. Golden State Wealth Management LLC now owns 447 shares of the business services provider’s stock valued at $44,000 after purchasing an additional 438 shares during the last quarter. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on GPN. KeyCorp reaffirmed an “overweight” rating and issued a $100.00 price objective (up previously from $90.00) on shares of Global Payments in a research note on Thursday, August 7th. Keefe, Bruyette & Woods lifted their price objective on shares of Global Payments from $81.00 to $85.00 and gave the company a “market perform” rating in a research note on Wednesday, July 9th. Royal Bank Of Canada lifted their target price on shares of Global Payments from $86.00 to $93.00 and gave the stock a “sector perform” rating in a report on Thursday, August 7th. Evercore ISI lifted 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. Finally, UBS Group lifted their target price on shares of Global Payments from $85.00 to $93.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. Eight analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, Global Payments presently has a consensus rating of “Hold” and a consensus price target of $103.75.

Insider Buying and Selling at Global Payments

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

Global Payments Stock Performance

NYSE:GPN opened at $84.24 on Tuesday. The firm’s 50-day moving average is $86.01 and its 200-day moving average is $82.05. Global Payments Inc. has a 52-week low of $65.93 and a 52-week high of $120.00. 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 company has a market cap of $20.44 billion, a price-to-earnings ratio of 14.73, a PEG ratio of 0.79 and a beta of 0.98.

Global Payments (NYSE:GPN) last posted its quarterly earnings data on Wednesday, August 6th. The business services provider reported $3.10 earnings per share (EPS) for the quarter, topping 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 company had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter in the previous year, the firm posted $2.93 EPS. The business’s revenue was up 1.6% compared to the same quarter last year. Equities research analysts anticipate that Global Payments Inc. will post 11.89 earnings per share for the current year.

Global Payments Dividend Announcement

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

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.