Paloma Partners Management Co Acquires 138 Shares of Global Payments Inc. (NYSE:GPN)

Paloma Partners Management Co raised its holdings in shares of Global Payments Inc. (NYSE:GPN) by 4.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,180 shares of the business services provider’s stock after acquiring an additional 138 shares during the quarter. Paloma Partners Management Co’s holdings in Global Payments were worth $425,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Turtle Creek Wealth Advisors LLC bought a new position in shares of Global Payments in the fourth quarter valued at $30,000. LRI Investments LLC bought a new position in shares of Global Payments in the first quarter valued at $32,000. McGlone Suttner Wealth Management Inc. bought a new position in shares of Global Payments in the fourth quarter valued at $41,000. West Paces Advisors Inc. grew its stake in shares of Global Payments by 54.5% in the first quarter. West Paces Advisors Inc. now owns 309 shares of the business services provider’s stock valued at $41,000 after buying an additional 109 shares in the last quarter. Finally, North Star Investment Management Corp. grew its stake in shares of Global Payments by 154.7% in the first quarter. North Star Investment Management Corp. now owns 354 shares of the business services provider’s stock valued at $47,000 after buying an additional 215 shares in the last quarter. 89.76% of the stock is owned by institutional investors.

Insider Transactions at Global Payments

In related news, VP Andrea M. Carter sold 3,300 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $111.34, for a total value of $367,422.00. Following the sale, the vice president now directly owns 25,209 shares in the company, valued at $2,806,770.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on GPN. Robert W. Baird reduced their price objective on shares of Global Payments from $182.00 to $150.00 and set an “outperform” rating for the company in a research report on Thursday, May 2nd. Citigroup reduced their price objective on shares of Global Payments from $163.00 to $155.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. TD Cowen reduced their price objective on shares of Global Payments from $152.00 to $125.00 and set a “buy” rating for the company in a research report on Friday, June 21st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $172.00 price objective on shares of Global Payments in a research report on Wednesday, July 10th. Finally, BMO Capital Markets reduced their price objective on shares of Global Payments from $143.00 to $128.00 and set a “market perform” rating for the company in a research report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat, Global Payments presently has an average rating of “Moderate Buy” and a consensus target price of $145.32.

Global Payments Trading Up 0.4 %

Shares of NYSE:GPN traded up $0.38 during midday trading on Monday, hitting $101.57. 1,135,000 shares of the stock were exchanged, compared to its average volume of 2,302,129. The stock has a market capitalization of $25.93 billion, a price-to-earnings ratio of 20.15, a P/E/G ratio of 0.65 and a beta of 0.98. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.92 and a current ratio of 0.92. The business’s 50-day moving average price is $98.25 and its 200 day moving average price is $117.15. Global Payments Inc. has a 12 month low of $91.60 and a 12 month high of $141.77.

Global Payments (NYSE:GPN) last released its quarterly earnings results on Wednesday, May 1st. The business services provider reported $2.48 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.07. The company had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.17 billion. Global Payments had a return on equity of 11.72% and a net margin of 13.40%. Analysts predict that Global Payments Inc. will post 11.09 earnings per share for the current year.

Global Payments Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.98%. The ex-dividend date was Friday, June 14th. Global Payments’s dividend payout ratio (DPR) is currently 19.84%.

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.