DnB Asset Management AS decreased its position in Global Payments Inc. (NYSE:GPN – Free Report) by 0.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 49,644 shares of the business services provider’s stock after selling 400 shares during the period. DnB Asset Management AS’s holdings in Global Payments were worth $4,891,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Glassman Wealth Services increased its stake in shares of Global Payments by 94.3% during the first quarter. Glassman Wealth Services now owns 239 shares of the business services provider’s stock worth $25,000 after purchasing an additional 116 shares in the last quarter. Clear Street Markets LLC purchased a new stake in shares of Global Payments during the fourth quarter worth about $27,000. Venturi Wealth Management LLC purchased a new stake in Global Payments during the 1st quarter valued at about $29,000. MV Capital Management Inc. grew its stake in Global Payments by 166.7% during the 1st quarter. MV Capital Management Inc. now owns 296 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 185 shares in the last quarter. Finally, Vigilant Capital Management LLC purchased a new stake in Global Payments during the 1st quarter valued at about $34,000. Hedge funds and other institutional investors own 85.23% of the company’s stock.
Global Payments Stock Performance
NYSE:GPN opened at $124.34 on Monday. The firm has a 50 day simple moving average of $120.29 and a 200-day simple moving average of $109.01. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.08 and a quick ratio of 1.08. The firm has a market cap of $32.33 billion, a PE ratio of 41.45, a P/E/G ratio of 0.87 and a beta of 0.97. Global Payments Inc. has a 1-year low of $92.27 and a 1-year high of $131.05.
Global Payments Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.80%. The ex-dividend date of this dividend is Thursday, September 14th. Global Payments’s dividend payout ratio (DPR) is 33.33%.
Insider Buying and Selling
In related news, CAO David M. Sheffield sold 2,016 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $119.47, for a total transaction of $240,851.52. Following the completion of the transaction, the chief accounting officer now owns 25,045 shares of the company’s stock, valued at $2,992,126.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Global Payments news, CAO David M. Sheffield sold 2,016 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $119.47, for a total transaction of $240,851.52. Following the completion of the sale, the chief accounting officer now directly owns 25,045 shares in the company, valued at $2,992,126.15. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Joshua J. Whipple sold 37,096 shares of the business’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $127.28, for a total transaction of $4,721,578.88. Following the sale, the chief financial officer now owns 39,772 shares of the company’s stock, valued at $5,062,180.16. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.
Analyst Ratings Changes
Several equities analysts have weighed in on the stock. Truist Financial boosted their target price on shares of Global Payments from $145.00 to $160.00 and gave the company a “buy” rating in a report on Tuesday, August 22nd. StockNews.com assumed coverage on shares of Global Payments in a report on Thursday, August 17th. They issued a “buy” rating on the stock. Mizuho boosted their target price on shares of Global Payments from $100.00 to $123.00 and gave the company a “neutral” rating in a report on Wednesday, August 2nd. Sanford C. Bernstein upped their target price on shares of Global Payments from $135.00 to $160.00 and gave the stock an “outperform” rating in a research note on Thursday, August 17th. Finally, B. Riley assumed coverage on shares of Global Payments in a research note on Friday, June 23rd. They set a “buy” rating and a $179.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.63.
Check Out Our Latest Stock Report on GPN
Global Payments 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 three segments: Merchant Solutions, Issuer Solutions, and Consumer 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.
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