AlphaCrest Capital Management LLC lifted its holdings in Global Payments Inc. (NYSE:GPN – Get Rating) by 65.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,573 shares of the business services provider’s stock after buying an additional 2,597 shares during the quarter. AlphaCrest Capital Management LLC’s holdings in Global Payments were worth $710,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of GPN. Royal Bank of Canada increased its stake in Global Payments by 93.8% in the third quarter. Royal Bank of Canada now owns 1,061,953 shares of the business services provider’s stock worth $114,743,000 after purchasing an additional 514,006 shares during the period. Prudential Financial Inc. lifted its holdings in Global Payments by 2.3% during the 2nd quarter. Prudential Financial Inc. now owns 279,324 shares of the business services provider’s stock valued at $31,309,000 after buying an additional 6,310 shares in the last quarter. South Dakota Investment Council bought a new stake in Global Payments during the 3rd quarter valued at about $486,000. Strs Ohio boosted its position in Global Payments by 59.0% in the 3rd quarter. Strs Ohio now owns 443,772 shares of the business services provider’s stock valued at $47,949,000 after buying an additional 164,610 shares during the period. Finally, Atlas Capital Advisors LLC grew its stake in Global Payments by 52.9% in the 3rd quarter. Atlas Capital Advisors LLC now owns 321 shares of the business services provider’s stock worth $35,000 after acquiring an additional 111 shares in the last quarter. 87.58% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several brokerages recently issued reports on GPN. Wells Fargo & Company increased their price objective on Global Payments from $125.00 to $145.00 in a research note on Monday, February 13th. Truist Financial lifted their price objective on Global Payments from $135.00 to $145.00 and gave the company a “buy” rating in a report on Monday, February 13th. Morgan Stanley increased their target price on shares of Global Payments from $135.00 to $144.00 and gave the stock an “overweight” rating in a report on Monday, February 13th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Global Payments from $188.00 to $155.00 in a report on Tuesday, December 20th. Finally, KeyCorp dropped their price objective on shares of Global Payments from $140.00 to $115.00 and set an “overweight” rating on the stock in a research note on Monday, January 9th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Global Payments has a consensus rating of “Moderate Buy” and a consensus target price of $149.31.
Global Payments Price Performance
Global Payments (NYSE:GPN – Get Rating) last posted its quarterly earnings results on Friday, February 10th. The business services provider reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.34 by $0.08. Global Payments had a return on equity of 10.30% and a net margin of 1.24%. The business had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.02 billion. During the same quarter in the previous year, the business earned $2.03 EPS. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, equities research analysts predict that Global Payments Inc. will post 9.87 EPS for the current year.
Global Payments Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Friday, March 17th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date is Thursday, March 16th. Global Payments’s dividend payout ratio is presently 227.28%.
Insider Buying and Selling at Global Payments
In other news, CAO David M. Sheffield sold 1,562 shares of the stock in a transaction on Monday, February 27th. The shares were sold at an average price of $113.08, for a total value of $176,630.96. Following the sale, the chief accounting officer now owns 28,032 shares in the company, valued at $3,169,858.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO David M. Sheffield sold 1,562 shares of the company’s stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $113.08, for a total value of $176,630.96. Following the sale, the chief accounting officer now owns 28,032 shares in the company, valued at $3,169,858.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert H. B. Baldwin, Jr. purchased 3,400 shares of Global Payments stock in a transaction that occurred on Monday, December 12th. The shares were bought at an average price of $98.62 per share, with a total value of $335,308.00. Following the completion of the transaction, the director now owns 38,940 shares of the company’s stock, valued at approximately $3,840,262.80. The disclosure for this purchase can be found here. Company insiders own 1.19% of the company’s stock.
Global Payments Company Profile
Global Payments, Inc engages in the provision of payment technology and software solutions. It operates through the following segments: Merchant Solutions, Issuer Solutions and Business & Consumer Solutions. The Merchant Solutions segment provides payments technology and software solutions to customers globally.
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