Park Avenue Securities LLC Has $855,000 Stock Position in Global Payments Inc. (NYSE:GPN)

Park Avenue Securities LLC trimmed its position in Global Payments Inc. (NYSE:GPN) by 2.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,399 shares of the business services provider’s stock after selling 157 shares during the quarter. Park Avenue Securities LLC’s holdings in Global Payments were worth $855,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GPN. Turtle Creek Wealth Advisors LLC bought a new position in Global Payments during the fourth quarter worth about $30,000. McGlone Suttner Wealth Management Inc. bought a new position in Global Payments during the fourth quarter worth about $41,000. Parkside Financial Bank & Trust boosted its holdings in Global Payments by 77.7% during the third quarter. Parkside Financial Bank & Trust now owns 407 shares of the business services provider’s stock worth $47,000 after buying an additional 178 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Global Payments by 26.7% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 34,922 shares of the business services provider’s stock valued at $48,000 after purchasing an additional 7,369 shares in the last quarter. Finally, CVA Family Office LLC bought a new position in shares of Global Payments during the 4th quarter valued at about $50,000. Institutional investors own 89.76% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. TD Cowen cut their price objective on Global Payments from $152.00 to $125.00 and set a “buy” rating on the stock in a report on Friday, June 21st. Monness Crespi & Hardt cut their price objective on Global Payments from $175.00 to $165.00 and set a “buy” rating on the stock in a report on Friday, May 3rd. Mizuho cut their price objective on Global Payments from $129.00 to $105.00 and set a “neutral” rating on the stock in a report on Wednesday, May 15th. KeyCorp cut their price objective on Global Payments from $155.00 to $145.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. Finally, Citigroup cut their price objective on Global Payments from $163.00 to $155.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $145.68.

Insider Activity at Global Payments

In related news, VP Andrea M. Carter sold 3,300 shares of the business’s stock in a transaction 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 completion of the sale, the vice president now directly owns 25,209 shares in the company, valued at approximately $2,806,770.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.98% of the stock is currently owned by corporate insiders.

Global Payments Stock Down 0.5 %

GPN stock opened at $95.14 on Thursday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $24.28 billion, a PE ratio of 18.88, a PEG ratio of 0.61 and a beta of 0.98. Global Payments Inc. has a 1-year low of $91.60 and a 1-year high of $141.77. The business’s 50 day simple moving average is $106.73 and its 200 day simple moving average is $122.10.

Global Payments (NYSE:GPN) last posted its earnings results on Wednesday, May 1st. The business services provider reported $2.48 earnings per share for the quarter, topping analysts’ consensus estimates of $2.41 by $0.07. The business had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.17 billion. Global Payments had a return on equity of 11.72% and a net margin of 13.40%. As a group, research analysts anticipate that Global Payments Inc. will post 11.08 EPS for the current year.

Global Payments Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.00 annualized dividend and a yield of 1.05%. Global Payments’s dividend payout ratio (DPR) is presently 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.