Consolidated Portfolio Review Corp Makes New Investment in Global Payments Inc. $GPN

Consolidated Portfolio Review Corp purchased a new position in shares of Global Payments Inc. (NYSE:GPN) during the second quarter, HoldingsChannel reports. The institutional investor purchased 2,688 shares of the business services provider’s stock, valued at approximately $215,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Brighton Jones LLC purchased a new position in Global Payments during the fourth quarter worth about $725,000. Two Sigma Investments LP acquired a new position in shares of Global Payments during the 4th quarter valued at about $1,006,000. NBC Securities Inc. purchased a new position in shares of Global Payments during the 1st quarter worth about $30,000. Merit Financial Group LLC boosted its position in shares of Global Payments by 129.7% in the first quarter. Merit Financial Group LLC now owns 11,988 shares of the business services provider’s stock worth $1,174,000 after acquiring an additional 6,769 shares during the last quarter. Finally, First Citizens Bank & Trust Co. purchased a new stake in Global Payments in the first quarter valued at approximately $294,000. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Insider Activity

In other 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 shares were sold at an average price of $86.00, for a total transaction of $172,000.00. Following the sale, the general counsel owned 30,713 shares in the company, valued at $2,641,318. This trade represents a 6.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.01% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GPN. Truist Financial increased their price target on shares of Global Payments from $79.00 to $83.00 and gave the stock a “hold” rating in a research note on Thursday, July 17th. Evercore ISI increased their target price on Global Payments from $85.00 to $90.00 and gave the stock an “in-line” rating in a research report on Friday, August 8th. JPMorgan Chase & Co. boosted their price target on Global Payments from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Thursday, August 7th. TD Cowen lowered Global Payments from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 21st. Finally, Keefe, Bruyette & Woods lifted their price objective on Global Payments from $81.00 to $85.00 and gave the company a “market perform” rating in a research note on Wednesday, July 9th. Eight equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. According to MarketBeat.com, Global Payments has an average rating of “Hold” and an average target price of $103.75.

Global Payments Trading Up 1.7%

NYSE:GPN opened at $86.58 on Friday. The business’s 50-day moving average is $85.33 and its two-hundred day moving average is $82.83. The firm has a market capitalization of $21.01 billion, a PE ratio of 15.14, a price-to-earnings-growth ratio of 0.81 and a beta of 0.98. Global Payments Inc. has a 12 month low of $65.93 and a 12 month high of $120.00. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95.

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, beating analysts’ consensus estimates of $3.06 by $0.04. The business had revenue of $2.36 billion during 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%.The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter last year, the firm earned $2.93 earnings per share. Research analysts predict that Global Payments Inc. will post 11.89 earnings per share for the current fiscal year.

Global Payments Announces Dividend

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

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.