QRG Capital Management Inc. Acquires 9,535 Shares of Global Payments Inc. $GPN

QRG Capital Management Inc. raised its position in shares of Global Payments Inc. (NYSE:GPN) by 209.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,093 shares of the business services provider’s stock after acquiring an additional 9,535 shares during the quarter. QRG Capital Management Inc.’s holdings in Global Payments were worth $1,128,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of GPN. NBC Securities Inc. acquired a new position in shares of Global Payments during the first quarter valued at about $30,000. Larson Financial Group LLC increased its stake in Global Payments by 546.6% in the 1st quarter. Larson Financial Group LLC now owns 375 shares of the business services provider’s stock valued at $37,000 after buying an additional 317 shares during the last quarter. Zions Bancorporation National Association UT bought a new position in shares of Global Payments during the 1st quarter valued at approximately $37,000. Quarry LP bought a new position in shares of Global Payments during the 1st quarter valued at approximately $42,000. Finally, Golden State Wealth Management LLC boosted its holdings in Global Payments by 4,866.7% in the 1st quarter. Golden State Wealth Management LLC now owns 447 shares of the business services provider’s stock worth $44,000 after buying an additional 438 shares during the period. Institutional investors own 89.76% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. TD Cowen cut shares of Global Payments from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 21st. 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. Truist Financial boosted their price objective on shares of Global Payments from $79.00 to $83.00 and gave the company a “hold” rating in a research report on Thursday, July 17th. Mizuho raised shares of Global Payments from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $86.00 to $114.00 in a research note on Friday, July 25th. Finally, UBS Group boosted their price objective on shares of Global Payments from $85.00 to $93.00 and gave the stock a “neutral” rating in a research note on Thursday, August 7th. Eight 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 a consensus target price of $103.75.

Global Payments Trading Up 0.5%

Shares of Global Payments stock opened at $88.55 on Thursday. The stock has a market capitalization of $21.48 billion, a PE ratio of 15.48, a P/E/G ratio of 0.84 and a beta of 0.98. 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 company’s fifty day simple moving average is $85.66 and its 200-day simple moving average is $82.58. Global Payments Inc. has a 1-year low of $65.93 and a 1-year high of $120.00.

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

Global Payments Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were paid a $0.25 dividend. 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 presently 17.48%.

Insider Activity 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 on Thursday, August 7th. The shares were sold at an average price of $86.00, for a total value of $172,000.00. Following the completion of the transaction, the general counsel directly owned 30,713 shares of the company’s stock, valued at $2,641,318. This trade represents a 6.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 1.01% of the stock is owned by insiders.

About Global Payments

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.