Geneos Wealth Management Inc. Decreases Position in Global Payments Inc. $GPN

Geneos Wealth Management Inc. lessened its position in shares of Global Payments Inc. (NYSE:GPN) by 13.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,061 shares of the business services provider’s stock after selling 165 shares during the period. Geneos Wealth Management Inc.’s holdings in Global Payments were worth $104,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Golden State Wealth Management LLC grew its holdings in shares of Global Payments by 4,866.7% during the first quarter. Golden State Wealth Management LLC now owns 447 shares of the business services provider’s stock worth $44,000 after buying an additional 438 shares during the last quarter. Tradewinds LLC. purchased a new stake in shares of Global Payments in the 1st quarter worth about $685,000. Argyle Capital Management LLC increased its stake in shares of Global Payments by 114.4% during the 1st quarter. Argyle Capital Management LLC now owns 18,305 shares of the business services provider’s stock worth $1,792,000 after purchasing an additional 9,768 shares in the last quarter. North Star Asset Management Inc. raised its holdings in shares of Global Payments by 3.3% in the fourth quarter. North Star Asset Management Inc. now owns 282,933 shares of the business services provider’s stock worth $31,705,000 after acquiring an additional 8,947 shares during the last quarter. Finally, Malaga Cove Capital LLC lifted its holdings in Global Payments by 85.0% in the 1st quarter. Malaga Cove Capital LLC now owns 15,094 shares of the business services provider’s stock valued at $1,478,000 after purchasing an additional 6,933 shares in the last quarter. 89.76% of the stock is owned by hedge funds and other institutional investors.

Global Payments Trading Up 1.3%

Shares of Global Payments stock opened at $85.36 on Thursday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a 50-day moving average of $84.40 and a 200-day moving average of $83.69. Global Payments Inc. has a 52-week low of $65.93 and a 52-week high of $120.00. The stock has a market cap of $20.71 billion, a PE ratio of 14.92, a PEG ratio of 0.80 and a beta of 0.97.

Global Payments (NYSE:GPN) last released its quarterly earnings data on Wednesday, August 6th. The business services provider reported $3.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.06 by $0.04. The business had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.36 billion. Global Payments had a net margin of 15.07% and a return on equity of 12.47%. The firm’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.93 EPS. As a group, sell-side analysts forecast that Global Payments Inc. will post 11.89 EPS for the current year.

Global Payments Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, September 12th. Global Payments’s dividend payout ratio is currently 17.48%.

Insider Buying and Selling

In other news, General Counsel Dara L. Steele-Belkin sold 2,000 shares of the company’s stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $86.00, for a total value of $172,000.00. Following the transaction, the general counsel owned 30,713 shares of the company’s stock, valued at approximately $2,641,318. This represents a 6.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Truist Financial raised their price target on Global Payments from $79.00 to $83.00 and gave the stock a “hold” rating in a research note on Thursday, July 17th. Keefe, Bruyette & Woods increased their price target on Global Payments from $81.00 to $85.00 and gave the company a “market perform” rating in a report on Wednesday, July 9th. TD Cowen cut shares of Global Payments from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 21st. UBS Group raised their price objective on Global Payments from $85.00 to $93.00 and gave the company a “neutral” rating in a research note on Thursday, August 7th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Global Payments from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Thursday, August 7th. Nine analysts have rated the stock with a Buy rating and nineteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $110.70.

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 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.