Farther Finance Advisors LLC Increases Stock Position in Global Payments Inc. $GPN

Farther Finance Advisors LLC raised its holdings in Global Payments Inc. (NYSE:GPN) by 45.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 967 shares of the business services provider’s stock after purchasing an additional 301 shares during the period. Farther Finance Advisors LLC’s holdings in Global Payments were worth $77,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Perigon Wealth Management LLC increased its position in Global Payments by 3.8% during the first quarter. Perigon Wealth Management LLC now owns 3,932 shares of the business services provider’s stock worth $385,000 after purchasing an additional 144 shares during the last quarter. Transcend Capital Advisors LLC grew its holdings in Global Payments by 7.9% during the 1st quarter. Transcend Capital Advisors LLC now owns 2,135 shares of the business services provider’s stock worth $209,000 after acquiring an additional 157 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in shares of Global Payments by 5.5% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 3,027 shares of the business services provider’s stock worth $242,000 after buying an additional 158 shares during the last quarter. Pinnacle Associates Ltd. lifted its position in shares of Global Payments by 4.1% in the 1st quarter. Pinnacle Associates Ltd. now owns 4,342 shares of the business services provider’s stock worth $425,000 after buying an additional 171 shares during the last quarter. Finally, WESCAP Management Group Inc. lifted its position in Global Payments by 2.5% in the 1st quarter. WESCAP Management Group Inc. now owns 7,102 shares of the business services provider’s stock valued at $695,000 after purchasing an additional 176 shares during the last quarter. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Global Payments Stock Up 1.8%

Shares of NYSE GPN opened at $88.00 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. Global Payments Inc. has a 12-month low of $65.93 and a 12-month high of $120.00. The company has a market cap of $21.35 billion, a price-to-earnings ratio of 15.38, a price-to-earnings-growth ratio of 0.84 and a beta of 0.98. The firm’s 50-day simple moving average is $85.37 and its 200 day simple moving average is $82.67.

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

Global Payments Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 12th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, September 12th. Global Payments’s dividend payout ratio (DPR) is currently 17.48%.

Analyst Ratings Changes

GPN has been the topic of several research analyst reports. Truist Financial raised their target price on shares of Global Payments from $79.00 to $83.00 and gave the company a “hold” rating in a research note on Thursday, July 17th. JPMorgan Chase & Co. lifted 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. Royal Bank Of Canada raised their price target on shares of Global Payments from $86.00 to $93.00 and gave the stock a “sector perform” rating in a report on Thursday, August 7th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Global Payments in a research note on Saturday, September 27th. 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 research note on Friday, August 8th. Eight analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. According to MarketBeat, Global Payments has an average rating of “Hold” and a consensus price target of $103.75.

Insider Buying and Selling at Global Payments

In other news, General Counsel Dara L. Steele-Belkin sold 2,000 shares of the 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 completion of the sale, 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.01% of the stock is owned by corporate insiders.

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.