1620 Investment Advisors Inc. Has $204,000 Stake in Global Payments Inc. (NYSE:GPN)

1620 Investment Advisors Inc. grew its holdings in shares of Global Payments Inc. (NYSE:GPN) by 90.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,993 shares of the business services provider’s stock after buying an additional 949 shares during the quarter. 1620 Investment Advisors Inc.’s holdings in Global Payments were worth $204,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of GPN. Cromwell Holdings LLC acquired a new stake in Global Payments in the third quarter valued at $25,000. New Covenant Trust Company N.A. acquired a new stake in Global Payments in the 1st quarter valued at about $31,000. LRI Investments LLC bought a new position in Global Payments during the first quarter worth about $32,000. POM Investment Strategies LLC acquired a new position in Global Payments during the second quarter worth approximately $32,000. Finally, Whittier Trust Co. of Nevada Inc. raised its stake in Global Payments by 59.6% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 383 shares of the business services provider’s stock valued at $39,000 after buying an additional 143 shares during the period. 89.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GPN has been the topic of a number of research reports. TD Cowen decreased their price target on shares of Global Payments from $125.00 to $122.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Barclays lowered their target price on Global Payments from $145.00 to $120.00 and set an “overweight” rating on the stock in a research note on Monday, September 30th. B. Riley reduced their price target on Global Payments from $204.00 to $194.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. JPMorgan Chase & Co. lowered their price objective on Global Payments from $118.00 to $115.00 and set a “neutral” rating on the stock in a research report on Tuesday. Finally, Royal Bank of Canada reduced their target price on shares of Global Payments from $158.00 to $143.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, Global Payments has an average rating of “Moderate Buy” and an average price target of $137.52.

Insiders Place Their Bets

In other news, CAO David M. Sheffield sold 1,651 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $100.73, for a total value of $166,305.23. Following the completion of the transaction, the chief accounting officer now directly owns 20,531 shares in the company, valued at approximately $2,068,087.63. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.98% of the company’s stock.

Global Payments Stock Up 4.4 %

Shares of NYSE:GPN opened at $103.37 on Thursday. The stock has a market cap of $26.39 billion, a price-to-earnings ratio of 20.51, a PEG ratio of 0.74 and a beta of 0.98. The business’s 50 day moving average is $104.84 and its 200 day moving average is $104.37. Global Payments Inc. has a 12-month low of $91.60 and a 12-month high of $141.77. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.68.

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

Global Payments Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, December 13th. This represents a $1.00 dividend on an annualized basis and a yield of 0.97%. Global Payments’s payout ratio is 19.84%.

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.