Boyar Asset Management Inc. Boosts Stock Holdings in Global Payments Inc. $GPN

Key Points

• Boyar Asset Management Inc. increased its stake in Global Payments Inc. by 32.9%, owning 12,252 shares valued at approximately $981,000.
• Several institutional investors significantly increased their positions in Global Payments during the first quarter, with SG Americas Securities LLC owning over 1.5 million shares after a massive purchase.
• Global Payments announced a quarterly dividend of $0.25 per share, reflecting an annualized dividend of $1.00 and a yield of 1.1%.

Boyar Asset Management Inc. lifted its position in Global Payments Inc. (NYSE:GPN - Free Report) by 32.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,252 shares of the business services provider's stock after buying an additional 3,035 shares during the period. Boyar Asset Management Inc.'s holdings in Global Payments were worth $981,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of GPN. SG Americas Securities LLC grew its position in shares of Global Payments by 75,379.7% in the 1st quarter. SG Americas Securities LLC now owns 1,517,141 shares of the business services provider's stock worth $148,558,000 after buying an additional 1,515,131 shares during the last quarter. Nuveen LLC acquired a new stake in Global Payments during the 1st quarter valued at approximately $94,107,000. Amundi lifted its stake in Global Payments by 77.5% during the 1st quarter. Amundi now owns 2,001,585 shares of the business services provider's stock valued at $186,107,000 after acquiring an additional 874,175 shares during the period. National Bank of Canada FI lifted its stake in shares of Global Payments by 346.9% in the 1st quarter. National Bank of Canada FI now owns 912,667 shares of the business services provider's stock valued at $89,368,000 after purchasing an additional 708,451 shares during the period. Finally, Strs Ohio acquired a new position in shares of Global Payments in the 1st quarter valued at $66,441,000. Hedge funds and other institutional investors own 89.76% of the company's stock.

Analyst Upgrades and Downgrades

GPN has been the subject of several analyst reports. Evercore ISI boosted their target price on shares of Global Payments from $85.00 to $90.00 and gave the company an "in-line" rating in a research note on Friday, August 8th. UBS Group increased their target price on shares of Global Payments from $85.00 to $93.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Global Payments in a research report on Saturday, September 27th. B. Riley reissued a "buy" rating on shares of Global Payments in a report on Wednesday, July 16th. Finally, Mizuho raised shares of Global Payments from a "neutral" rating to an "outperform" rating and increased their target price for the stock from $86.00 to $114.00 in a research note on Friday, July 25th. Eight analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $103.75.

Insiders Place Their Bets

In other Global Payments news, General Counsel Dara L. Steele-Belkin sold 2,000 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $86.00, for a total transaction of $172,000.00. Following the sale, the general counsel owned 30,713 shares of the company's stock, valued at approximately $2,641,318. This trade represents a 6.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.01% of the company's stock.

Global Payments Stock Up 1.8%

Shares of Global Payments stock opened at $88.00 on Friday. Global Payments Inc. has a 52-week low of $65.93 and a 52-week high of $120.00. The company has a 50 day moving average of $85.37 and a 200 day moving average of $82.77. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $21.35 billion, a P/E ratio of 15.38, a P/E/G ratio of 0.82 and a beta of 0.98.

Global Payments (NYSE:GPN - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The business services provider reported $3.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.06 by $0.04. Global Payments had a net margin of 15.07% and a return on equity of 12.47%. The company had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter in the previous year, the firm earned $2.93 earnings per share. The firm's quarterly revenue was up 1.6% on a year-over-year basis. As a group, research analysts forecast that Global Payments Inc. will post 11.89 EPS for the current fiscal year.

Global Payments Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, September 12th. This represents a $1.00 dividend on an annualized basis and a yield of 1.1%. Global Payments's dividend payout ratio (DPR) is presently 17.48%.

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.

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