AE Wealth Management LLC Purchases 8,828 Shares of Global Payments Inc. (NYSE:GPN)

AE Wealth Management LLC grew its position in shares of Global Payments Inc. (NYSE:GPN) by 52.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,608 shares of the business services provider’s stock after buying an additional 8,828 shares during the quarter. AE Wealth Management LLC’s holdings in Global Payments were worth $2,476,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Pzena Investment Management LLC grew its position in Global Payments by 194.2% during the 2nd quarter. Pzena Investment Management LLC now owns 6,423,463 shares of the business services provider’s stock worth $621,149,000 after acquiring an additional 4,240,388 shares during the last quarter. Boston Partners grew its holdings in shares of Global Payments by 0.3% during the first quarter. Boston Partners now owns 4,797,677 shares of the business services provider’s stock worth $639,967,000 after purchasing an additional 12,196 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Global Payments by 10.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,957,914 shares of the business services provider’s stock valued at $189,307,000 after buying an additional 193,137 shares in the last quarter. Glenview Capital Management LLC raised its holdings in shares of Global Payments by 5.5% in the fourth quarter. Glenview Capital Management LLC now owns 1,948,128 shares of the business services provider’s stock valued at $247,412,000 after buying an additional 100,993 shares during the last quarter. Finally, Lyrical Asset Management LP lifted its position in Global Payments by 0.8% during the 4th quarter. Lyrical Asset Management LP now owns 1,764,123 shares of the business services provider’s stock worth $224,044,000 after buying an additional 14,235 shares in the last quarter. Institutional investors and hedge funds own 89.76% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on GPN. Susquehanna reaffirmed a “positive” rating and issued a $147.00 target price on shares of Global Payments in a research note on Tuesday, September 17th. Wells Fargo & Company began coverage on Global Payments in a report on Wednesday, June 12th. They set an “equal weight” rating and a $100.00 price objective on the stock. TD Cowen lowered their target price on Global Payments from $152.00 to $125.00 and set a “buy” rating for the company in a research note on Friday, June 21st. JPMorgan Chase & Co. upped their price target on Global Payments from $111.00 to $118.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Finally, William Blair upgraded Global Payments to a “strong-buy” rating in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Global Payments presently has a consensus rating of “Moderate Buy” and an average price target of $142.59.

Insider Buying and Selling at Global Payments

In other news, CAO David M. Sheffield sold 1,651 shares of the company’s stock in a transaction dated 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 transaction, the chief accounting officer now directly owns 20,531 shares of the company’s stock, valued at $2,068,087.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.98% of the company’s stock.

Global Payments Trading Down 2.0 %

NYSE GPN opened at $110.69 on Monday. Global Payments Inc. has a one year low of $91.60 and a one year high of $141.77. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a market cap of $28.25 billion, a P/E ratio of 21.96, a P/E/G ratio of 0.70 and a beta of 0.98. The stock’s 50-day moving average is $105.52 and its 200-day moving average is $110.01.

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

Global Payments Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date is Friday, September 13th. Global Payments’s dividend payout ratio (DPR) 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.