Private Advisor Group LLC purchased a new position in Global Payments Inc. (NYSE:GPN – Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,477 shares of the business services provider’s stock, valued at approximately $366,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Glassman Wealth Services lifted its stake in Global Payments by 94.3% in the first quarter. Glassman Wealth Services now owns 239 shares of the business services provider’s stock worth $25,000 after acquiring an additional 116 shares during the period. Clear Street Markets LLC purchased a new position in Global Payments during the fourth quarter valued at $27,000. Venturi Wealth Management LLC purchased a new position in Global Payments during the first quarter valued at $29,000. MV Capital Management Inc. lifted its position in Global Payments by 166.7% during the first quarter. MV Capital Management Inc. now owns 296 shares of the business services provider’s stock valued at $31,000 after buying an additional 185 shares during the period. Finally, Vigilant Capital Management LLC purchased a new position in Global Payments during the first quarter valued at $34,000. Hedge funds and other institutional investors own 85.23% of the company’s stock.
Global Payments Stock Up 2.1 %
GPN stock opened at $129.32 on Monday. Global Payments Inc. has a twelve month low of $92.27 and a twelve month high of $136.64. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.76. The stock has a market cap of $33.62 billion, a P/E ratio of 43.11, a PEG ratio of 0.86 and a beta of 0.97. The business’s 50-day moving average price is $115.16 and its 200-day moving average price is $108.15.
Global Payments Dividend Announcement
The firm also recently declared 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 0.77%. Global Payments’s dividend payout ratio is presently 33.33%.
Insider Buying and Selling
In related news, CAO David M. Sheffield sold 2,016 shares of the business’s stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.30% of the stock is owned by insiders.
Wall Street Analyst Weigh In
GPN has been the subject of several recent research reports. Barclays raised their price objective on Global Payments from $135.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, August 4th. Truist Financial raised their price target on Global Payments from $145.00 to $160.00 and gave the company a “buy” rating in a report on Tuesday, August 22nd. KeyCorp raised their price target on Global Payments from $125.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, August 2nd. Raymond James reduced their price target on Global Payments from $156.00 to $155.00 and set an “outperform” rating for the company in a report on Wednesday, August 2nd. Finally, StockNews.com started coverage on Global Payments in a report on Thursday, August 17th. They set a “buy” rating for the company. One equities research 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $148.63.
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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