Janney Montgomery Scott LLC Buys 5,316 Shares of Global Payments Inc. $GPN

Key Points

• Janney Montgomery Scott LLC increased its stake in Global Payments Inc. by 20.2%, acquiring an additional 5,316 shares for a total holding of 31,608 shares valued at approximately $2.53 million.
• Several institutional investors have also recently increased their positions in Global Payments, contributing to 89.76% of the company's stock being owned by institutional investors.
• Global Payments announced a quarterly dividend of $0.25 per share, reflecting an annualized dividend of $1.00 and a yield of 1.1%.

Janney Montgomery Scott LLC raised its stake in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 20.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,608 shares of the business services provider's stock after acquiring an additional 5,316 shares during the quarter. Janney Montgomery Scott LLC's holdings in Global Payments were worth $2,530,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Perigon Wealth Management LLC boosted its position in Global Payments by 3.8% during the 1st quarter. Perigon Wealth Management LLC now owns 3,932 shares of the business services provider's stock valued at $385,000 after acquiring an additional 144 shares in the last quarter. Transcend Capital Advisors LLC boosted its position in shares of Global Payments by 7.9% in the 1st quarter. Transcend Capital Advisors LLC now owns 2,135 shares of the business services provider's stock worth $209,000 after purchasing an additional 157 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in shares of Global Payments by 5.5% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 3,027 shares of the business services provider's stock worth $242,000 after purchasing an additional 158 shares in the last quarter. Pinnacle Associates Ltd. boosted its position in shares of Global Payments by 4.1% in the 1st quarter. Pinnacle Associates Ltd. now owns 4,342 shares of the business services provider's stock worth $425,000 after purchasing an additional 171 shares in the last quarter. Finally, WESCAP Management Group Inc. boosted its position in shares of Global Payments by 2.5% in the 1st quarter. WESCAP Management Group Inc. now owns 7,102 shares of the business services provider's stock worth $695,000 after purchasing an additional 176 shares in the last quarter. Institutional investors own 89.76% of the company's stock.

Insider Buying and Selling at Global Payments

In other news, General Counsel Dara L. Steele-Belkin sold 2,000 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $86.00, for a total transaction of $172,000.00. Following the transaction, the general counsel directly owned 30,713 shares in the company, valued at $2,641,318. The trade was a 6.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.01% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on GPN shares. JPMorgan Chase & Co. raised their price objective on Global Payments from $85.00 to $95.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Truist Financial lifted their price objective on Global Payments from $79.00 to $83.00 and gave the company a "hold" rating in a research note on Thursday, July 17th. KeyCorp reiterated an "overweight" rating and set a $100.00 price objective (up previously from $90.00) on shares of Global Payments in a research note on Thursday, August 7th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Global Payments in a research note on Wednesday. Finally, B. Riley reiterated a "buy" rating on shares of Global Payments in a research note on Wednesday, July 16th. Eight analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. According to data from MarketBeat, Global Payments presently has an average rating of "Hold" and an average price target of $103.75.

Global Payments Trading Down 1.5%

Shares of Global Payments stock opened at $87.16 on Friday. The stock has a market cap of $21.15 billion, a P/E ratio of 15.24, a P/E/G ratio of 0.85 and a beta of 0.98. The stock's 50 day simple moving average is $85.80 and its 200-day simple moving average is $82.49. Global Payments Inc. has a 1-year low of $65.93 and a 1-year high of $120.00. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95.

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

Global Payments Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 12th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Friday, September 12th. Global Payments's payout ratio is currently 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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