Edge Capital Group LLC Acquires 392 Shares of Global Payments Inc. (NYSE:GPN)

Edge Capital Group LLC boosted its holdings in shares of Global Payments Inc. (NYSE:GPN) by 5.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,646 shares of the business services provider’s stock after buying an additional 392 shares during the period. Edge Capital Group LLC’s holdings in Global Payments were worth $739,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC boosted its stake in Global Payments by 7.1% during the second quarter. EverSource Wealth Advisors LLC now owns 3,564 shares of the business services provider’s stock valued at $362,000 after buying an additional 237 shares during the period. 1832 Asset Management L.P. raised its position in Global Payments by 731,682.1% during the second quarter. 1832 Asset Management L.P. now owns 204,899 shares of the business services provider’s stock valued at $19,814,000 after purchasing an additional 204,871 shares in the last quarter. Frank Rimerman Advisors LLC raised its position in Global Payments by 86,450.0% during the second quarter. Frank Rimerman Advisors LLC now owns 3,462 shares of the business services provider’s stock valued at $335,000 after purchasing an additional 3,458 shares in the last quarter. ProShare Advisors LLC raised its position in Global Payments by 2.7% during the second quarter. ProShare Advisors LLC now owns 51,817 shares of the business services provider’s stock valued at $5,011,000 after purchasing an additional 1,375 shares in the last quarter. Finally, Summit Trail Advisors LLC raised its position in Global Payments by 18.3% during the second quarter. Summit Trail Advisors LLC now owns 3,435 shares of the business services provider’s stock valued at $332,000 after purchasing an additional 532 shares in the last quarter. Institutional investors own 89.76% of the company’s stock.

Global Payments Stock Down 2.0 %

Shares of NYSE:GPN opened at $110.69 on Monday. Global Payments Inc. has a 1 year low of $91.60 and a 1 year high of $141.77. The company has a market cap of $28.25 billion, a PE ratio of 21.96, a P/E/G ratio of 0.70 and a beta of 0.98. 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 stock’s 50-day moving average is $105.52 and its 200 day moving average is $110.01.

Global Payments (NYSE:GPN) last posted its quarterly earnings data on Wednesday, August 7th. The business services provider reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.90 by $0.03. The business had revenue of $2.57 billion for the quarter, compared to analysts’ expectations 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 firm posted $2.48 EPS. Sell-side analysts anticipate that Global Payments Inc. will post 11.07 EPS for the current year.

Global Payments Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, September 13th. This represents a $1.00 annualized dividend and a yield of 0.90%. Global Payments’s payout ratio is 19.84%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on GPN shares. Wells Fargo & Company started coverage on Global Payments in a research report on Wednesday, June 12th. They set an “equal weight” rating and a $100.00 price target on the stock. BNP Paribas upgraded Global Payments to a “strong sell” rating in a research report on Wednesday, September 4th. Stephens restated an “overweight” rating and set a $130.00 price target on shares of Global Payments in a research report on Wednesday, September 18th. JPMorgan Chase & Co. raised their price target on Global Payments from $111.00 to $118.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Finally, Susquehanna reiterated a “positive” rating and issued a $147.00 price objective on shares of Global Payments in a report on Tuesday, September 17th. One research analyst has rated the stock with a sell rating, five have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $142.59.

Insider Buying and Selling at Global Payments

In other Global Payments news, CAO David M. Sheffield sold 1,651 shares of Global Payments 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 sale, the chief accounting officer now directly owns 20,531 shares of the company’s stock, valued at approximately $2,068,087.63. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.98% of the company’s stock.

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.