Global Payments Inc. (NYSE:GPN) Shares Sold by Congress Wealth Management LLC DE

Posted by Defense World Staff on Apr 24th, 2023

Congress Wealth Management LLC DE trimmed its holdings in Global Payments Inc. (NYSE:GPN – Get Rating) by 52.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,086 shares of the business services provider’s stock after selling 2,328 shares during the period. Congress Wealth Management LLC DE’s holdings in Global Payments were worth $207,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the business. Boston Partners lifted its holdings in Global Payments by 1.9% in the 3rd quarter. Boston Partners now owns 4,943,273 shares of the business services provider’s stock valued at $534,064,000 after purchasing an additional 89,927 shares in the last quarter. Artisan Partners Limited Partnership lifted its holdings in Global Payments by 4.0% in the 3rd quarter. Artisan Partners Limited Partnership now owns 4,055,387 shares of the business services provider’s stock valued at $438,185,000 after purchasing an additional 157,380 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Global Payments by 6.6% in the 3rd quarter. Victory Capital Management Inc. now owns 3,204,963 shares of the business services provider’s stock valued at $346,296,000 after purchasing an additional 198,834 shares in the last quarter. Echo Street Capital Management LLC lifted its holdings in Global Payments by 79.6% in the 3rd quarter. Echo Street Capital Management LLC now owns 2,676,292 shares of the business services provider’s stock valued at $289,173,000 after purchasing an additional 1,186,038 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Global Payments by 2.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,531,002 shares of the business services provider’s stock valued at $273,475,000 after purchasing an additional 71,801 shares in the last quarter. 87.58% of the stock is owned by institutional investors and hedge funds.

Global Payments Price Performance

Shares of NYSE GPN opened at $108.89 on Monday. Global Payments Inc. has a fifty-two week low of $92.27 and a fifty-two week high of $143.91. The business has a 50 day moving average price of $107.06 and a two-hundred day moving average price of $106.08. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.55. The firm has a market cap of $28.72 billion, a PE ratio of 247.48, a price-to-earnings-growth ratio of 0.71 and a beta of 0.99.

Global Payments (NYSE:GPN – Get Rating) last issued its quarterly earnings data on Friday, February 10th. The business services provider reported $2.42 earnings per share for the quarter, beating analysts’ consensus estimates of $2.34 by $0.08. Global Payments had a return on equity of 10.30% and a net margin of 1.24%. The firm had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.02 billion. During the same quarter last year, the firm earned $2.03 EPS. Global Payments’s quarterly revenue was up 2.7% on a year-over-year basis. Sell-side analysts expect that Global Payments Inc. will post 9.82 earnings per share for the current fiscal year.

Global Payments Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 31st. Shareholders of record on Friday, March 17th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, March 16th. This represents a $1.00 dividend on an annualized basis and a yield of 0.92%. Global Payments’s dividend payout ratio (DPR) is presently 227.28%.

Insiders Place Their Bets

In other Global Payments news, CAO David M. Sheffield sold 1,562 shares of the stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $113.08, for a total transaction of $176,630.96. Following the transaction, the chief accounting officer now owns 28,032 shares of the company’s stock, valued at approximately $3,169,858.56. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on GPN shares. Barclays started coverage on shares of Global Payments in a report on Thursday, March 30th. They set an “overweight” rating on the stock. Stephens reiterated an “overweight” rating and set a $135.00 price objective on shares of Global Payments in a report on Monday, February 13th. Morgan Stanley increased their price objective 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. StockNews.com assumed coverage on shares of Global Payments in a report on Thursday, March 16th. They set a “hold” rating on the stock. Finally, BMO Capital Markets cut their price target on shares of Global Payments from $220.00 to $208.00 and set an “outperform” rating on the stock in a report on Monday, February 13th. One analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $149.70.

Global Payments Company Profile

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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.