SG Americas Securities LLC Grows Stock Position in Global Payments Inc. (NYSE:GPN)

Posted by Defense World Staff on Sep 21st, 2023

SG Americas Securities LLC boosted its position in Global Payments Inc. (NYSE:GPN – Free Report) by 36.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,347 shares of the business services provider’s stock after buying an additional 6,453 shares during the quarter. SG Americas Securities LLC’s holdings in Global Payments were worth $2,399,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. Sound Income Strategies LLC increased its position in Global Payments by 9.0% in the second quarter. Sound Income Strategies LLC now owns 24,266 shares of the business services provider’s stock worth $2,391,000 after buying an additional 2,011 shares during the last quarter. Moody National Bank Trust Division increased its position in Global Payments by 9.4% in the second quarter. Moody National Bank Trust Division now owns 6,708 shares of the business services provider’s stock worth $661,000 after buying an additional 577 shares during the last quarter. Radnor Capital Management LLC purchased a new stake in Global Payments in the second quarter worth $211,000. First Hawaiian Bank boosted its holdings in shares of Global Payments by 13.5% in the second quarter. First Hawaiian Bank now owns 10,364 shares of the business services provider’s stock worth $1,021,000 after acquiring an additional 1,230 shares during the period. Finally, Fulton Bank N.A. boosted its holdings in shares of Global Payments by 27.5% in the second quarter. Fulton Bank N.A. now owns 4,495 shares of the business services provider’s stock worth $443,000 after acquiring an additional 969 shares during the period. 85.23% of the stock is owned by hedge funds and other institutional investors.

Global Payments Price Performance

Shares of GPN opened at $122.70 on Thursday. The firm has a market cap of $31.90 billion, a PE ratio of 40.90, a P/E/G ratio of 0.85 and a beta of 0.97. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.76. The firm has a fifty day simple moving average of $121.20 and a two-hundred day simple moving average of $109.26. Global Payments Inc. has a 1-year low of $92.27 and a 1-year high of $129.70.

Global Payments (NYSE:GPN – Get Free Report) last posted its quarterly earnings data on Tuesday, August 1st. The business services provider reported $2.62 EPS for the quarter, topping the consensus estimate of $2.43 by $0.19. Global Payments had a return on equity of 10.98% and a net margin of 8.65%. The firm had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.19 billion. During the same period in the prior year, the business posted $2.23 EPS. Global Payments’s revenue was up 7.5% on a year-over-year basis. On average, equities analysts anticipate that Global Payments Inc. will post 9.68 EPS for the current year.

Global Payments Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a $0.25 dividend. The ex-dividend date is Thursday, September 14th. This represents a $1.00 dividend on an annualized basis and a yield of 0.81%. Global Payments’s dividend payout ratio is currently 33.33%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on GPN. Redburn Atlantic lowered Global Payments from a “neutral” rating to an “underweight” rating and set a $105.00 price target for the company. in a report on Monday. KeyCorp lifted their price objective on Global Payments from $125.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, August 2nd. Raymond James dropped their price objective on Global Payments from $156.00 to $155.00 and set an “outperform” rating for the company in a research note on Wednesday, August 2nd. Sanford C. Bernstein lifted their price target on Global Payments from $135.00 to $160.00 and gave the stock an “outperform” rating in a research note on Thursday, August 17th. Finally, Jefferies Financial Group upgraded Global Payments from a “hold” rating to a “buy” rating and boosted their price target for the company from $125.00 to $145.00 in a report on Thursday, August 10th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $147.23.

View Our Latest Stock Analysis on Global Payments

Insider Buying and Selling

In related news, CAO David M. Sheffield sold 2,016 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $119.47, for a total value of $240,851.52. Following the transaction, the chief accounting officer now directly owns 25,045 shares of the company’s stock, valued at approximately $2,992,126.15. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Global Payments news, CAO David M. Sheffield sold 2,016 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $119.47, for a total transaction of $240,851.52. Following the sale, the chief accounting officer now directly owns 25,045 shares of the company’s stock, valued at $2,992,126.15. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Joshua J. Whipple sold 37,096 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $127.28, for a total value of $4,721,578.88. Following the sale, the chief financial officer now directly owns 39,772 shares in the company, valued at $5,062,180.16. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.

Global Payments Profile

(Free Report)

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.