Global Payments Inc. (NYSE:GPN) Shares Sold by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. reduced its stake in Global Payments Inc. (NYSE:GPN) by 15.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,750 shares of the business services provider’s stock after selling 1,389 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Global Payments were worth $749,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of GPN. New Covenant Trust Company N.A. purchased a new stake in shares of Global Payments in the first quarter valued at about $31,000. LRI Investments LLC acquired a new position in Global Payments in the 1st quarter valued at about $32,000. POM Investment Strategies LLC acquired a new stake in shares of Global Payments during the 2nd quarter worth approximately $32,000. West Paces Advisors Inc. raised its position in shares of Global Payments by 54.5% during the 1st 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 during the period. Finally, North Star Investment Management Corp. raised its position in shares of Global Payments by 154.7% during the 1st 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 during the period. 89.76% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Global Payments

In related news, CAO David M. Sheffield sold 1,651 shares of the business’s 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 sale, the chief accounting officer now owns 20,531 shares in the company, valued at $2,068,087.63. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.98% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Evercore ISI cut their target price on Global Payments from $170.00 to $160.00 and set an “outperform” rating for the company in a research note on Tuesday, June 25th. BTIG Research downgraded Global Payments from a “buy” rating to a “neutral” rating in a research report on Wednesday, September 25th. Oppenheimer assumed coverage on shares of Global Payments in a report on Tuesday. They issued a “market perform” rating on the stock. Royal Bank of Canada lowered 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 note on Friday. Finally, BMO Capital Markets reduced their price target on shares of Global Payments from $126.00 to $122.00 and set a “market perform” rating on the stock in a research note on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $139.55.

Global Payments Stock Performance

Shares of Global Payments stock opened at $98.65 on Friday. The business has a 50-day simple moving average of $105.54 and a 200-day simple moving average of $108.19. 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 Inc. has a one year low of $91.60 and a one year high of $141.77. The company has a market cap of $25.18 billion, a PE ratio of 19.57, a P/E/G ratio of 0.71 and a beta of 0.98.

Global Payments (NYSE:GPN) last issued its quarterly earnings results on Wednesday, August 7th. The business services provider reported $2.93 earnings per share (EPS) 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 the consensus estimate of $2.32 billion. During the same quarter in the previous year, the firm earned $2.48 earnings per share. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. On average, equities research analysts forecast that Global Payments Inc. will post 11.07 EPS for the current fiscal year.

Global Payments Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend was Friday, September 13th. 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.