Park Avenue Securities LLC Buys Shares of 9,574 Global Payments Inc. $GPN

Key Points

• Park Avenue Securities LLC acquired a new stake in Global Payments Inc., purchasing 9,574 shares valued at approximately $766,000 in the second quarter.
• Institutional investors own 89.76% of Global Payments, indicating strong interest from major financial players.
• The company recently reported $3.10 earnings per share for the quarter, beating estimates by $0.04, and announced a quarterly dividend of $0.25 per share.

Park Avenue Securities LLC bought 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 Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 9,574 shares of the business services provider's stock, valued at approximately $766,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. NBC Securities Inc. acquired a new stake in Global Payments during the 1st quarter valued at approximately $30,000. Larson Financial Group LLC boosted 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 buying an additional 317 shares in the last quarter. Zions Bancorporation National Association UT bought a new position in shares of Global Payments during the 1st quarter worth approximately $37,000. Quarry LP bought a new position in shares of Global Payments during the 1st quarter worth approximately $42,000. Finally, Golden State Wealth Management LLC boosted its holdings in shares of Global Payments by 4,866.7% during the 1st 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 in the last quarter. Institutional investors and hedge funds own 89.76% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. TD Cowen cut Global Payments from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 21st. Evercore ISI increased their price target on Global Payments from $85.00 to $90.00 and gave the stock an "in-line" rating in a report on Friday, August 8th. UBS Group increased their price target on Global Payments from $85.00 to $93.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. KeyCorp restated an "overweight" rating and set a $100.00 price target (up from $90.00) on shares of Global Payments in a report on Thursday, August 7th. Finally, Truist Financial increased their price target on Global Payments from $79.00 to $83.00 and gave the stock a "hold" rating in a report on Thursday, July 17th. Eight research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Global Payments presently has an average rating of "Hold" and an average target price of $103.75.

Global Payments Trading Down 0.6%

Shares of Global Payments stock opened at $84.43 on Friday. Global Payments Inc. has a 1 year low of $65.93 and a 1 year high of $120.00. The firm has a market cap of $20.48 billion, a PE ratio of 14.76, a P/E/G ratio of 0.80 and a beta of 0.97. The stock has a fifty day moving average price of $85.15 and a 200-day moving average price of $82.99. 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 quarterly earnings data 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 company had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.36 billion. Global Payments had a return on equity of 12.47% and a net margin of 15.07%.The firm's revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.93 EPS. Equities research analysts anticipate that Global Payments Inc. will post 11.89 EPS for the current year.

Global Payments Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were given a $0.25 dividend. The ex-dividend date was Friday, September 12th. This represents a $1.00 annualized dividend and a yield of 1.2%. Global Payments's payout ratio is presently 17.48%.

Insider Activity

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 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.01% of the company's stock.

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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