Atlantic Union Bankshares Corp Invests $905,000 in Global Payments Inc. $GPN

Atlantic Union Bankshares Corp purchased a new position in shares of Global Payments Inc. (NYSE:GPN) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,898 shares of the business services provider’s stock, valued at approximately $905,000.

Other hedge funds also recently modified their holdings of the company. Pettee Investors Inc. boosted its holdings in Global Payments by 24.1% in the second quarter. Pettee Investors Inc. now owns 15,672 shares of the business services provider’s stock worth $1,254,000 after acquiring an additional 3,040 shares in the last quarter. Independent Advisor Alliance raised its holdings in shares of Global Payments by 260.5% in the 3rd quarter. Independent Advisor Alliance now owns 29,446 shares of the business services provider’s stock worth $2,446,000 after acquiring an additional 21,278 shares during the last quarter. BIP Wealth LLC lifted its position in Global Payments by 151.6% in the 3rd quarter. BIP Wealth LLC now owns 30,103 shares of the business services provider’s stock valued at $2,501,000 after acquiring an additional 18,138 shares in the last quarter. HB Wealth Management LLC raised its position in Global Payments by 213.9% in the 3rd quarter. HB Wealth Management LLC now owns 36,861 shares of the business services provider’s stock valued at $3,062,000 after buying an additional 25,118 shares during the last quarter. Finally, Saiph Capital LLC bought a new position in shares of Global Payments during the second quarter valued at about $7,269,000. Institutional investors and hedge funds own 89.76% of the company’s stock.

Global Payments Trading Up 5.3%

NYSE GPN opened at $70.80 on Thursday. The firm has a market cap of $16.76 billion, a PE ratio of 9.94, a price-to-earnings-growth ratio of 0.44 and a beta of 0.76. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.57. The stock has a 50-day moving average of $77.29 and a 200-day moving average of $81.16. Global Payments Inc. has a 1-year low of $65.93 and a 1-year high of $112.50.

Global Payments (NYSE:GPN) last announced its earnings results on Tuesday, November 4th. The business services provider reported $3.26 EPS for the quarter, beating analysts’ consensus estimates of $3.23 by $0.03. Global Payments had a return on equity of 12.66% and a net margin of 19.68%.The company had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same quarter in the prior year, the company earned $3.08 earnings per share. As a group, sell-side analysts forecast that Global Payments Inc. will post 11.89 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently issued reports on GPN. Evercore ISI decreased their price objective on shares of Global Payments from $90.00 to $85.00 in a report on Tuesday, November 11th. Raymond James Financial reissued an “outperform” rating and issued a $105.00 price target on shares of Global Payments in a research report on Tuesday, November 4th. Citigroup upgraded Global Payments to a “strong-buy” rating in a research report on Thursday, October 23rd. TD Cowen reduced their price target on Global Payments from $95.00 to $90.00 and set a “hold” rating for the company in a research report on Monday, January 12th. Finally, Zacks Research upgraded Global Payments to a “hold” rating in a research note on Tuesday, November 18th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $97.82.

Insiders Place Their Bets

In related news, Director Robert H. B. Baldwin, Jr. bought 10,392 shares of the company’s stock in a transaction on Thursday, December 11th. The shares were acquired at an average cost of $81.42 per share, with a total value of $846,116.64. Following the completion of the acquisition, the director owned 59,303 shares of the company’s stock, valued at $4,828,450.26. The trade was a 21.25% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Patricia A. Watson purchased 1,331 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The stock was purchased at an average price of $75.06 per share, for a total transaction of $99,904.86. Following the purchase, the director owned 2,651 shares in the company, valued at $198,984.06. This represents a 100.83% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have bought 14,723 shares of company stock valued at $1,186,772 and have sold 18,080 shares valued at $1,439,350. 1.01% of the stock is owned by company insiders.

Global Payments Profile

Global Payments Inc (NYSE: GPN) is a worldwide provider of payment technology and software solutions that enables commerce for merchants, issuers and enterprises. The company develops and operates payment processing networks, point-of-sale systems and cloud-based software that facilitate electronic transactions across in-store, online and mobile channels. Its services span merchant acquiring, payment gateway services, omnichannel commerce platforms, and solutions for recurring and subscription billing.

Global Payments offers a range of products and services including integrated payment terminals and point-of-sale software, e-commerce and gateway technologies, fraud prevention and tokenization tools, and business analytics and reporting.