Kempner Capital Management Inc. Invests $6.23 Million in Global Payments Inc. $GPN

Key Points

• Kempner Capital Management Inc. has invested $6.23 million in Global Payments Inc., acquiring 77,875 shares which now represents 3.3% of its total holdings.
• Global Payments' stock has recently seen multiple analyst upgrades, with price targets being increased, notably from $86.00 to $93.00 by Royal Bank Of Canada.
• The company declared a quarterly dividend of $0.25 per share, with a yield of 1.2%, to be paid on September 26th.

Kempner Capital Management Inc. acquired a new stake in shares of Global Payments Inc. (NYSE:GPN - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 77,875 shares of the business services provider's stock, valued at approximately $6,233,000. Global Payments comprises 3.3% of Kempner Capital Management Inc.'s holdings, making the stock its 8th largest position.

A number of other institutional investors have also added to or reduced their stakes in the company. NBC Securities Inc. acquired a new position in Global Payments in the 1st quarter valued at approximately $30,000. Larson Financial Group LLC grew its holdings in shares of Global Payments by 546.6% during the 1st quarter. Larson Financial Group LLC now owns 375 shares of the business services provider's stock worth $37,000 after purchasing an additional 317 shares in the last quarter. Zions Bancorporation National Association UT bought a new stake in shares of Global Payments during the first quarter valued at approximately $37,000. Quarry LP acquired a new position in shares of Global Payments in the first quarter valued at $42,000. Finally, Golden State Wealth Management LLC lifted its position in Global Payments by 4,866.7% in the first quarter. Golden State Wealth Management LLC now owns 447 shares of the business services provider's stock worth $44,000 after purchasing an additional 438 shares during the period. 89.76% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Royal Bank Of Canada boosted their price target on shares of Global Payments from $86.00 to $93.00 and gave the company a "sector perform" rating in a report on Thursday, August 7th. KeyCorp reiterated an "overweight" rating and set a $100.00 target price (up from $90.00) on shares of Global Payments in a research report on Thursday, August 7th. UBS Group increased their price target on shares of Global Payments from $85.00 to $93.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Evercore ISI lifted their price objective on Global Payments from $85.00 to $90.00 and gave the company an "in-line" rating in a report on Friday, August 8th. Finally, JPMorgan Chase & Co. upped their price objective on Global Payments from $85.00 to $95.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Nine investment analysts have rated the stock with a Buy rating and eighteen have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $110.70.

Insider Activity at Global Payments

In related 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 shares were sold at an average price of $86.00, for a total value of $172,000.00. Following the completion of the transaction, the general counsel owned 30,713 shares in the company, valued at $2,641,318. The trade was a 6.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.01% of the stock is owned by company insiders.

Global Payments Stock Down 0.8%

NYSE GPN opened at $86.24 on Wednesday. The stock's 50 day simple moving average is $84.98 and its 200 day simple moving average is $83.18. Global Payments Inc. has a one year low of $65.93 and a one year high of $120.00. The firm has a market cap of $20.92 billion, a PE ratio of 15.08, a price-to-earnings-growth ratio of 0.83 and a beta of 0.97. 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 announced its earnings results on Wednesday, August 6th. The business services provider reported $3.10 EPS for the quarter, topping the consensus estimate of $3.06 by $0.04. The company 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% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.93 earnings per share. As a group, sell-side analysts forecast that Global Payments Inc. will post 11.89 earnings per share for the current fiscal year.

Global Payments Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, September 12th. Global Payments's dividend payout ratio is 17.48%.

About Global Payments

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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