B. Riley Wealth Advisors Inc. Lowers Stake in Global Payments Inc. (NYSE:GPN)

B. Riley Wealth Advisors Inc. reduced its holdings in shares of Global Payments Inc. (NYSE:GPN) by 8.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 8,357 shares of the business services provider’s stock after selling 782 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Global Payments were worth $1,061,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Global Payments in the fourth quarter valued at about $30,000. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Global Payments in the fourth quarter valued at about $41,000. Parkside Financial Bank & Trust boosted its holdings in shares of Global Payments by 77.7% in the third quarter. Parkside Financial Bank & Trust now owns 407 shares of the business services provider’s stock valued at $47,000 after acquiring an additional 178 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Global Payments by 26.7% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 34,922 shares of the business services provider’s stock valued at $48,000 after acquiring an additional 7,369 shares in the last quarter. Finally, CVA Family Office LLC purchased a new stake in shares of Global Payments in the fourth quarter valued at about $50,000. 89.76% of the stock is owned by hedge funds and other institutional investors.

Global Payments Price Performance

Global Payments stock opened at $94.36 on Friday. Global Payments Inc. has a 1 year low of $91.60 and a 1 year high of $141.77. The firm has a 50 day moving average price of $108.38 and a 200 day moving average price of $122.56. The company has a market cap of $24.09 billion, a price-to-earnings ratio of 18.72, a PEG ratio of 0.59 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.

Global Payments (NYSE:GPN) last released its earnings results on Wednesday, May 1st. The business services provider reported $2.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.41 by $0.07. Global Payments had a net margin of 13.40% and a return on equity of 11.72%. The firm had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.17 billion. Sell-side analysts predict that Global Payments Inc. will post 11.08 earnings per share for the current year.

Global Payments Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.00 annualized dividend and a yield of 1.06%. Global Payments’s dividend payout ratio is currently 19.84%.

Insiders Place Their Bets

In other Global Payments news, VP Andrea M. Carter sold 3,300 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $111.34, for a total transaction of $367,422.00. Following the completion of the sale, the vice president now directly owns 25,209 shares in the company, valued at $2,806,770.06. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.98% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on GPN. Keefe, Bruyette & Woods lowered their target price on shares of Global Payments from $158.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday, May 2nd. TD Cowen reduced their price objective on shares of Global Payments from $160.00 to $152.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. KeyCorp reduced their price objective on shares of Global Payments from $155.00 to $145.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. Mizuho reduced their price objective on shares of Global Payments from $129.00 to $105.00 and set a “neutral” rating for the company in a research note on Wednesday, May 15th. 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 note on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $147.36.

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.