Tectonic Advisors LLC Purchases 575 Shares of Global Payments Inc. (NYSE:GPN)

Tectonic Advisors LLC raised its position in Global Payments Inc. (NYSE:GPN) by 19.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,568 shares of the business services provider’s stock after acquiring an additional 575 shares during the period. Tectonic Advisors LLC’s holdings in Global Payments were worth $365,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of GPN. Pzena Investment Management LLC boosted its position in shares of Global Payments by 194.2% in the 2nd quarter. Pzena Investment Management LLC now owns 6,423,463 shares of the business services provider’s stock worth $621,149,000 after purchasing an additional 4,240,388 shares in the last quarter. Boston Partners boosted its holdings in Global Payments by 0.3% in the first quarter. Boston Partners now owns 4,797,677 shares of the business services provider’s stock worth $639,967,000 after acquiring an additional 12,196 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Global Payments by 10.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,957,914 shares of the business services provider’s stock worth $189,307,000 after acquiring an additional 193,137 shares in the last quarter. Davis Asset Management L.P. grew its stake in shares of Global Payments by 18.2% during the second quarter. Davis Asset Management L.P. now owns 1,300,000 shares of the business services provider’s stock worth $125,710,000 after acquiring an additional 200,000 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of Global Payments by 188.1% during the second quarter. AQR Capital Management LLC now owns 1,157,728 shares of the business services provider’s stock valued at $109,857,000 after acquiring an additional 755,898 shares in the last quarter. 89.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GPN has been the subject of a number of recent analyst reports. Susquehanna reiterated a “positive” rating and issued a $147.00 target price on shares of Global Payments in a research note on Tuesday, September 17th. Royal Bank of Canada dropped their price objective on shares of Global Payments from $158.00 to $143.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. KeyCorp cut their target price on Global Payments from $145.00 to $135.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 25th. BNP Paribas raised Global Payments to a “strong sell” rating in a research report on Wednesday, September 4th. Finally, Sanford C. Bernstein lowered Global Payments from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $135.00 to $112.00 in a report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, Global Payments currently has a consensus rating of “Moderate Buy” and a consensus target price of $137.65.

Global Payments Stock Down 0.4 %

Global Payments stock opened at $99.13 on Friday. Global Payments Inc. has a 12 month low of $91.60 and a 12 month high of $141.77. The stock has a market capitalization of $25.22 billion, a PE ratio of 18.16, a price-to-earnings-growth ratio of 0.74 and a beta of 0.98. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.92 and a quick ratio of 0.92. The business has a 50 day simple moving average of $105.31 and a 200-day simple moving average of $105.02.

Global Payments (NYSE:GPN) last posted its quarterly earnings data on Wednesday, August 7th. The business services provider reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.90 by $0.03. Global Payments had a net margin of 14.26% and a return on equity of 11.93%. The company had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.32 billion. During the same period in the prior year, the business posted $2.48 earnings per share. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, analysts anticipate that Global Payments Inc. will post 11.06 EPS for the current fiscal year.

Global Payments Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date was Friday, September 13th. Global Payments’s dividend payout ratio is presently 18.32%.

Insider Buying and Selling

In other Global Payments news, CAO David M. Sheffield sold 1,651 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $100.73, for a total transaction of $166,305.23. Following the completion of the transaction, the chief accounting officer now owns 20,531 shares of the company’s stock, valued at $2,068,087.63. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.98% of the stock is currently 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.