Global Payments Inc. (NYSE:GPN) Stake Raised by Evergreen Capital Management LLC

Evergreen Capital Management LLC boosted its holdings in Global Payments Inc. (NYSE:GPN) by 2.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,329 shares of the business services provider’s stock after acquiring an additional 632 shares during the quarter. Evergreen Capital Management LLC’s holdings in Global Payments were worth $2,353,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Pzena Investment Management LLC raised its position in Global Payments by 194.2% in the second 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 in the last quarter. Boston Partners raised its holdings in Global Payments by 0.3% during the 1st quarter. Boston Partners now owns 4,797,677 shares of the business services provider’s stock worth $639,967,000 after buying an additional 12,196 shares during the period. Dimensional Fund Advisors LP raised its holdings in Global Payments by 10.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,957,914 shares of the business services provider’s stock worth $189,307,000 after buying an additional 193,137 shares during the period. Glenview Capital Management LLC raised its holdings in Global Payments by 5.5% during the 4th quarter. Glenview Capital Management LLC now owns 1,948,128 shares of the business services provider’s stock worth $247,412,000 after buying an additional 100,993 shares during the period. Finally, Lyrical Asset Management LP raised its holdings 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 during the period. 89.76% of the stock is currently owned by institutional investors.

Global Payments Stock Up 0.3 %

GPN opened at $110.99 on Tuesday. The stock has a market capitalization of $28.33 billion, a price-to-earnings ratio of 22.02, a P/E/G ratio of 0.70 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 has a 50 day moving average of $105.75 and a 200-day moving average of $109.88. 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 quarterly earnings data on Wednesday, August 7th. The business services provider reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.90 by $0.03. The company had revenue of $2.57 billion during 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 last year, the business earned $2.48 earnings per share. As a group, sell-side analysts anticipate that Global Payments Inc. will post 11.07 earnings per share for the current year.

Global Payments Announces Dividend

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

Insider Transactions at Global Payments

In other news, CAO David M. Sheffield sold 1,651 shares of Global Payments 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 transaction, the chief accounting officer now owns 20,531 shares in the company, valued at approximately $2,068,087.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on GPN. Stephens restated an “overweight” rating and set a $130.00 price objective on shares of Global Payments in a report on Wednesday, September 18th. BMO Capital Markets boosted their price objective on Global Payments from $124.00 to $126.00 and gave the stock a “market perform” rating in a report on Thursday, August 8th. Wells Fargo & Company began coverage on Global Payments in a research note on Wednesday, June 12th. They set an “equal weight” rating and a $100.00 target price on the stock. Keefe, Bruyette & Woods lowered their target price on Global Payments from $150.00 to $140.00 and set an “outperform” rating on the stock in a research note on Monday, July 8th. Finally, BNP Paribas raised Global Payments to a “strong sell” rating in a research note on Wednesday, September 4th. One analyst has rated the stock with a sell rating, five have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $142.59.

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.