Global Payments Inc. $GPN Shares Bought by Boyar Asset Management Inc.

Boyar Asset Management Inc. raised its position in Global Payments Inc. (NYSE:GPN) by 32.9% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 12,252 shares of the business services provider’s stock after acquiring an additional 3,035 shares during the quarter. Boyar Asset Management Inc.’s holdings in Global Payments were worth $981,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Golden State Wealth Management LLC boosted its position in shares of Global Payments by 4,866.7% during the 1st quarter. Golden State Wealth Management LLC now owns 447 shares of the business services provider’s stock worth $44,000 after purchasing an additional 438 shares in 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 boosted its position in shares of Global Payments by 114.4% in the 1st quarter. Argyle Capital Management LLC now owns 18,305 shares of the business services provider’s stock worth $1,792,000 after buying an additional 9,768 shares in the last quarter. Malaga Cove Capital LLC raised its stake 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 during the last quarter. Finally, Teacher Retirement System of Texas raised its stake in Global Payments by 1,828.3% in the 1st quarter. Teacher Retirement System of Texas now owns 45,932 shares of the business services provider’s stock valued at $4,498,000 after purchasing an additional 43,550 shares during the last quarter. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Global Payments in a research note on Saturday, September 27th. Mizuho raised shares of Global Payments from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $86.00 to $114.00 in a research report on Friday, July 25th. B. Riley restated a “buy” rating on shares of Global Payments in a report on Wednesday, July 16th. Royal Bank Of Canada increased their target price on Global Payments from $86.00 to $93.00 and gave the company a “sector perform” rating in a research note on Thursday, August 7th. Finally, JPMorgan Chase & Co. increased their target price on Global Payments from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Thursday, August 7th. Eight equities research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $103.75.

Insider Activity at Global Payments

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

Global Payments Price Performance

Shares of NYSE GPN opened at $88.00 on Friday. Global Payments Inc. has a 1-year low of $65.93 and a 1-year 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. The business’s fifty day moving average price is $85.37 and its two-hundred day moving average price is $82.77. The firm has a market capitalization of $21.35 billion, a PE ratio of 15.38, a P/E/G ratio of 0.82 and a beta of 0.98.

Global Payments (NYSE:GPN) last issued its earnings results on Wednesday, August 6th. The business services provider reported $3.10 earnings per share 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%.The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period last year, the company earned $2.93 earnings per share. On average, research analysts expect that Global Payments Inc. will post 11.89 EPS for the current year.

Global Payments Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 12th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis 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 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.