Strategic Wealth Partners Ltd. Has $2.86 Million Stock Holdings in Global Payments Inc. (NYSE:GPN)

Strategic Wealth Partners Ltd. grew its stake in Global Payments Inc. (NYSE:GPN) by 271.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,889 shares of the business services provider’s stock after buying an additional 20,386 shares during the period. Strategic Wealth Partners Ltd.’s holdings in Global Payments were worth $2,856,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. New Covenant Trust Company N.A. acquired a new stake in Global Payments during the first quarter worth approximately $31,000. LRI Investments LLC acquired a new stake in Global Payments during the first quarter worth approximately $32,000. POM Investment Strategies LLC acquired a new stake in Global Payments during the second quarter worth approximately $32,000. West Paces Advisors Inc. grew its stake in Global Payments by 54.5% during the first quarter. West Paces Advisors Inc. now owns 309 shares of the business services provider’s stock worth $41,000 after purchasing an additional 109 shares during the period. Finally, North Star Investment Management Corp. grew its stake in Global Payments by 154.7% during the first quarter. North Star Investment Management Corp. now owns 354 shares of the business services provider’s stock worth $47,000 after purchasing an additional 215 shares during the period. Institutional investors and hedge funds own 89.76% of the company’s stock.

Analyst Ratings Changes

GPN has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their target price on Global Payments from $111.00 to $118.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Evercore ISI reduced their price objective 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. StockNews.com cut Global Payments from a “buy” rating to a “hold” rating in a research note on Thursday, September 26th. Susquehanna reissued a “positive” rating and issued a $147.00 price objective on shares of Global Payments in a research note on Tuesday, September 17th. Finally, Monness Crespi & Hardt reduced their price objective on Global Payments from $165.00 to $155.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $139.55.

Insider Buying and Selling at Global Payments

In other Global Payments news, CAO David M. Sheffield sold 1,651 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $100.73, for a total value of $166,305.23. Following the sale, the chief accounting officer now directly 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.98% of the company’s stock.

Global Payments Stock Performance

Shares of Global Payments stock opened at $98.82 on Wednesday. The business’s fifty day simple moving average is $105.46 and its 200 day simple moving average is $107.60. The firm has a market capitalization of $25.22 billion, a P/E ratio of 19.61, a price-to-earnings-growth ratio of 0.71 and a beta of 0.98. Global Payments Inc. has a 12 month low of $91.60 and a 12 month high of $141.77. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.68.

Global Payments (NYSE:GPN) last issued its earnings results on Wednesday, August 7th. The business services provider reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.90 by $0.03. The firm had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.32 billion. Global Payments had a return on equity of 11.93% and a net margin of 14.26%. The business’s revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.48 earnings per share. As a group, analysts anticipate that Global Payments Inc. will post 11.07 EPS for the current year.

Global Payments Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were paid a $0.25 dividend. The ex-dividend date was Friday, September 13th. This represents a $1.00 annualized dividend and a dividend yield of 1.01%. Global Payments’s payout ratio is presently 19.84%.

Global Payments 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.