Raymond James Trust N.A. Has $1.51 Million Stake in Global Payments Inc. (NYSE:GPN)

by · The Markets Daily

Raymond James Trust N.A. lowered its position in shares of Global Payments Inc. (NYSE:GPN – Free Report) by 4.1% in the second quarter, HoldingsChannel reports. The firm owned 15,616 shares of the business services provider’s stock after selling 673 shares during the period. Raymond James Trust N.A.’s holdings in Global Payments were worth $1,510,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of GPN. New Covenant Trust Company N.A. acquired a new position in Global Payments during the 1st quarter worth about $31,000. LRI Investments LLC bought a new position in Global Payments during the first quarter worth about $32,000. POM Investment Strategies LLC acquired a new position in Global Payments during the second quarter valued at approximately $32,000. West Paces Advisors Inc. raised its stake in Global Payments by 54.5% during the 1st quarter. West Paces Advisors Inc. now owns 309 shares of the business services provider’s stock worth $41,000 after buying an additional 109 shares during the period. Finally, North Star Investment Management Corp. lifted its holdings in Global Payments by 154.7% during the first quarter. North Star Investment Management Corp. now owns 354 shares of the business services provider’s stock worth $47,000 after acquiring an additional 215 shares in the last quarter. Institutional investors and hedge funds own 89.76% of the company’s stock.

Insider Activity

In related news, CAO David M. Sheffield sold 1,651 shares of Global Payments stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $100.73, for a total value of $166,305.23. Following the transaction, the chief accounting officer now directly owns 20,531 shares of the company’s stock, valued at $2,068,087.63. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.98% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on GPN shares. BMO Capital Markets raised their target price on shares of Global Payments from $124.00 to $126.00 and gave the stock a “market perform” rating in a report on Thursday, August 8th. William Blair upgraded Global Payments to a “strong-buy” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. boosted their target price on shares of Global Payments from $111.00 to $118.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Monness Crespi & Hardt cut their price objective on Global Payments from $175.00 to $165.00 and set a “buy” rating for the company in a research report on Friday, May 3rd. Finally, Citigroup cut their target price on shares of Global Payments from $163.00 to $155.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $140.71.

Check Out Our Latest Stock Report on GPN

Global Payments Price Performance

Shares of Global Payments stock traded up $1.26 during trading on Friday, reaching $110.49. 1,036,573 shares of the company’s stock were exchanged, compared to its average volume of 2,277,036. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.92 and a current ratio of 0.92. Global Payments Inc. has a 1-year low of $91.60 and a 1-year high of $141.77. The company has a market cap of $28.20 billion, a P/E ratio of 21.92, a PEG ratio of 0.63 and a beta of 0.98. The firm’s 50-day moving average price is $99.61 and its 200 day moving average price is $113.23.

Global Payments (NYSE:GPN – Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The business services provider reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.90 by $0.03. The company had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.32 billion. Global Payments had a return on equity of 11.72% and a net margin of 13.40%. Global Payments’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the business posted $2.48 EPS. As a group, research analysts anticipate that Global Payments Inc. will post 11.09 earnings per share for the current year.

Global Payments Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be paid a $0.25 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.00 annualized dividend and a dividend yield of 0.91%. Global Payments’s dividend payout ratio is 19.84%.

Global Payments Company 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 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.

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