MassMutual Private Wealth & Trust FSB Purchases 158 Shares of Global Payments Inc. $GPN

MassMutual Private Wealth & Trust FSB increased its stake in shares of Global Payments Inc. (NYSE:GPN) by 5.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,027 shares of the business services provider’s stock after purchasing an additional 158 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in Global Payments were worth $242,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. NBC Securities Inc. bought a new stake in shares of Global Payments in the 1st quarter valued at $30,000. Larson Financial Group LLC raised its holdings in Global Payments by 546.6% during the first quarter. Larson Financial Group LLC now owns 375 shares of the business services provider’s stock worth $37,000 after buying an additional 317 shares during the last quarter. Zions Bancorporation National Association UT acquired a new position in Global Payments during the first quarter worth $37,000. Quarry LP acquired a new position in Global Payments during the first quarter worth $42,000. Finally, Golden State Wealth Management LLC raised its holdings in shares of Global Payments by 4,866.7% in the first quarter. Golden State Wealth Management LLC now owns 447 shares of the business services provider’s stock valued at $44,000 after purchasing an additional 438 shares during the last quarter. 89.76% of the stock is currently owned by institutional investors and hedge funds.

Global Payments Stock Performance

NYSE GPN opened at $86.11 on Friday. The stock has a market cap of $20.89 billion, a PE ratio of 15.05, a P/E/G ratio of 0.81 and a beta of 0.97. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. Global Payments Inc. has a twelve month low of $65.93 and a twelve month high of $120.00. The stock has a fifty day simple moving average of $84.50 and a 200-day simple moving average of $83.58.

Global Payments (NYSE:GPN) last posted its earnings results on Wednesday, August 6th. The business services provider reported $3.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.06 by $0.04. The firm had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.36 billion. Global Payments had a return on equity of 12.47% and a net margin of 15.07%.Global Payments’s revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.93 EPS. Equities analysts anticipate that Global Payments Inc. will post 11.89 earnings per share for the current year.

Global Payments Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Friday, September 12th. Global Payments’s dividend payout ratio (DPR) is 17.48%.

Insider Buying and Selling at Global Payments

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

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Truist Financial raised their price objective on shares of Global Payments from $79.00 to $83.00 and gave the stock a “hold” rating in a report on Thursday, July 17th. UBS Group raised their price objective on shares of Global Payments from $85.00 to $93.00 and gave the company a “neutral” rating in a research report on Thursday, August 7th. B. Riley restated a “buy” rating on shares of Global Payments in a research report on Wednesday, July 16th. Royal Bank Of Canada lifted their target price on shares of Global Payments from $86.00 to $93.00 and gave the company a “sector perform” rating in a research report on Thursday, August 7th. Finally, Evercore ISI boosted their price objective on shares of Global Payments from $85.00 to $90.00 and gave the stock an “in-line” rating in a report on Friday, August 8th. Nine research analysts have rated the stock with a Buy rating and nineteen have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $110.70.

Global Payments Company 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.