Greenleaf Trust Takes Position in Global Payments Inc. (NYSE:GPN)

Greenleaf Trust purchased a new stake in shares of Global Payments Inc. (NYSE:GPN) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 2,328 shares of the business services provider’s stock, valued at approximately $245,000.

Other institutional investors have also recently made changes to their positions in the company. Glassman Wealth Services boosted its holdings in shares of Global Payments by 94.3% during the 1st quarter. Glassman Wealth Services now owns 239 shares of the business services provider’s stock valued at $25,000 after acquiring an additional 116 shares during the last quarter. Venturi Wealth Management LLC purchased a new stake in shares of Global Payments during the 1st quarter valued at about $29,000. Clear Street Markets LLC purchased a new stake in shares of Global Payments during the 4th quarter valued at about $27,000. MV Capital Management Inc. boosted its holdings in shares of 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 during the last quarter. Finally, Vigilant Capital Management LLC purchased a new position in shares of Global Payments in the first quarter worth approximately $34,000. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Insiders Place Their Bets

In other Global Payments news, CAO David M. Sheffield sold 2,016 shares of the stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $119.47, for a total transaction of $240,851.52. Following the transaction, the chief accounting officer now directly owns 25,045 shares in the company, valued at approximately $2,992,126.15. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on GPN. BMO Capital Markets raised their price objective on shares of Global Payments from $208.00 to $211.00 and gave the stock an “outperform” rating in a report on Wednesday, August 2nd. Susquehanna dropped their price objective on shares of Global Payments from $190.00 to $180.00 in a report on Monday, June 5th. StockNews.com initiated coverage on shares of Global Payments in a report on Thursday, August 17th. They set a “buy” rating on the stock. Truist Financial upped their price target on shares of Global Payments from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Tuesday, August 22nd. Finally, Morgan Stanley upped their price target on shares of Global Payments from $144.00 to $146.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $148.63.

Global Payments Trading Up 2.9 %

GPN stock opened at $125.29 on Tuesday. The company has a market capitalization of $32.57 billion, a PE ratio of 41.76, a P/E/G ratio of 0.84 and a beta of 1.00. Global Payments Inc. has a 12 month low of $92.27 and a 12 month high of $136.64. The firm’s 50-day moving average is $112.98 and its 200 day moving average is $107.86. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.08 and a quick ratio of 1.08.

Global Payments (NYSE:GPN) last posted its quarterly earnings results 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 net margin of 8.65% and a return on equity of 10.98%. The company had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter last year, the firm posted $2.23 EPS. The firm’s revenue was up 7.5% compared to the same quarter last year. On average, research analysts anticipate that Global Payments Inc. will post 9.67 EPS for the current year.

Global Payments Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.80%. The ex-dividend date is Thursday, September 14th. Global Payments’s payout ratio is 33.33%.

About Global Payments

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.