Malaga Cove Capital LLC Buys 6,933 Shares of Global Payments Inc. (NYSE:GPN)

Key Points

• Malaga Cove Capital LLC increased its stake in Global Payments by 85% during Q1, acquiring an additional 6,933 shares, bringing its total to 15,094 shares valued at approximately $1,478,000.
• Analysts generally maintain a "Hold" rating for Global Payments, with one "sell," seventeen "holds," and twelve "buys," while the average target price is set at $111.65.
• Global Payments announced a quarterly dividend of $0.25 per share, yielding 1.3%, with the ex-dividend date occurring on June 13th.

Malaga Cove Capital LLC raised its position in Global Payments Inc. (NYSE:GPN - Free Report) by 85.0% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 15,094 shares of the business services provider's stock after buying an additional 6,933 shares during the period. Malaga Cove Capital LLC's holdings in Global Payments were worth $1,478,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Optiver Holding B.V. bought a new position in Global Payments in the fourth quarter valued at about $28,000. NBC Securities Inc. bought a new position in shares of Global Payments in the 1st quarter valued at about $30,000. Larson Financial Group LLC grew its position 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 buying an additional 317 shares during the period. True Wealth Design LLC acquired a new stake in shares of Global Payments during the 4th quarter worth approximately $40,000. Finally, Golden State Wealth Management LLC raised its stake in shares of Global Payments by 4,866.7% during the first quarter. Golden State Wealth Management LLC now owns 447 shares of the business services provider's stock worth $44,000 after buying an additional 438 shares during the last quarter. 89.76% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on the stock. B. Riley reaffirmed a "buy" rating on shares of Global Payments in a report on Wednesday, July 16th. Williams Trading set a $75.00 price target on Global Payments in a research report on Friday, April 18th. JPMorgan Chase & Co. decreased their price objective on Global Payments from $115.00 to $85.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Wolfe Research restated a "peer perform" rating on shares of Global Payments in a report on Wednesday, April 23rd. Finally, Royal Bank Of Canada lowered shares of Global Payments from an "outperform" rating to a "sector perform" rating and set a $86.00 price target for the company. in a report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, Global Payments has an average rating of "Hold" and an average target price of $111.65.

Global Payments Trading Down 2.4%

Global Payments stock opened at $78.00 on Friday. The company has a market cap of $19.02 billion, a price-to-earnings ratio of 12.58, a P/E/G ratio of 0.77 and a beta of 0.93. The firm has a 50-day moving average of $79.20 and a 200-day moving average of $88.73. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.94 and a quick ratio of 0.94. Global Payments Inc. has a one year low of $65.93 and a one year high of $120.00.

Global Payments (NYSE:GPN - Get Free Report) last released its earnings results on Tuesday, May 6th. The business services provider reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.73 by $0.09. The business had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.20 billion. Global Payments had a return on equity of 12.33% and a net margin of 15.48%. Global Payments's revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.59 earnings per share. On average, equities analysts expect that Global Payments Inc. will post 11.89 earnings per share for the current fiscal year.

Global Payments Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Friday, June 13th. Global Payments's dividend payout ratio is 16.13%.

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.

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