LGL Partners LLC Invests $643,000 in Global Payments Inc. $GPN

Key Points

• LGL Partners LLC invested $643,000 in Global Payments Inc., acquiring 6,563 shares in the company during the first quarter.
• Global Payments announced a quarterly dividend of $0.25 per share, reflecting a 1.1% dividend yield and a payout ratio of 17.48%.
• Analysts currently maintain a consensus target price of $112.21 for Global Payments, with ten analysts recommending a "Buy" rating on the stock.

LGL Partners LLC acquired a new position in shares of Global Payments Inc. (NYSE:GPN - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 6,563 shares of the business services provider's stock, valued at approximately $643,000.

Several other hedge funds have also modified their holdings of GPN. SG Americas Securities LLC raised its holdings in shares of Global Payments by 75,379.7% during 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 acquiring an additional 1,515,131 shares in the last quarter. Contour Asset Management LLC purchased a new stake in shares of Global Payments during the 4th quarter worth approximately $147,695,000. Nuveen LLC purchased a new stake in Global Payments during the 1st quarter valued at $94,107,000. National Bank of Canada FI lifted its position in Global Payments by 346.9% in the first quarter. National Bank of Canada FI now owns 912,667 shares of the business services provider's stock worth $89,368,000 after buying an additional 708,451 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Global Payments by 40.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,656,830 shares of the business services provider's stock worth $185,664,000 after buying an additional 479,791 shares during the period. 89.76% of the stock is owned by hedge funds and other institutional investors.

Global Payments Stock Up 0.7%

Shares of NYSE GPN opened at $88.88 on Tuesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market cap of $21.56 billion, a P/E ratio of 15.54, a PEG ratio of 0.85 and a beta of 0.96. Global Payments Inc. has a 1 year low of $65.93 and a 1 year high of $120.00. The firm has a 50-day simple moving average of $82.98 and a two-hundred day simple moving average of $84.94.

Global Payments (NYSE:GPN - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The business services provider reported $3.10 earnings per share for the quarter, beating the consensus estimate of $3.06 by $0.04. Global Payments had a net margin of 15.07% and a return on equity of 12.47%. The firm 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 posted $2.93 earnings per share. The company's revenue was up 1.6% on a year-over-year basis. Research analysts anticipate that Global Payments Inc. will post 11.89 earnings per share for the current 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 1.1%. The ex-dividend date of this dividend is Friday, September 12th. Global Payments's payout ratio is currently 17.48%.

Insider Buying and Selling at Global Payments

In other news, General Counsel Dara L. Steele-Belkin sold 2,000 shares of Global Payments 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 completion of the sale, the general counsel owned 30,713 shares of the company's stock, valued at approximately $2,641,318. The trade was a 6.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.01% of the company's stock.

Analysts Set New Price Targets

GPN has been the topic of a number of analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Global Payments from $85.00 to $95.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Mizuho upgraded shares of Global Payments from a "neutral" rating to an "outperform" rating and upped their price target for the company from $86.00 to $114.00 in a report on Friday, July 25th. TD Cowen downgraded shares of Global Payments from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 21st. Keefe, Bruyette & Woods raised their price objective on shares of Global Payments from $81.00 to $85.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 9th. Finally, Evercore ISI raised their price objective on shares of Global Payments from $85.00 to $90.00 and gave the stock an "in-line" rating in a research note on Friday, August 8th. Ten equities research analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $112.21.

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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