SCS Capital Management LLC Buys Shares of 6,816 Global Payments Inc. $GPN

Key Points

• SCS Capital Management LLC purchased 6,816 shares of Global Payments Inc. for approximately $667,000 during the first quarter.
• Global Payments reported $3.10 EPS for the quarter, beating analysts' estimates by $0.04, with a revenue of $2.36 billion.
• The company announced a quarterly dividend of $0.25 per share, with an ex-dividend date of September 12th.

SCS Capital Management LLC purchased a new position in Global Payments Inc. (NYSE:GPN - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 6,816 shares of the business services provider's stock, valued at approximately $667,000.

Other institutional investors have also recently made changes to their positions in the company. NBC Securities Inc. acquired a new stake in shares of Global Payments in the first quarter worth approximately $30,000. Larson Financial Group LLC boosted its stake in shares of Global Payments by 546.6% in the first quarter. Larson Financial Group LLC now owns 375 shares of the business services provider's stock worth $37,000 after acquiring an additional 317 shares during the last quarter. Zions Bancorporation National Association UT acquired a new stake in shares of Global Payments in the first quarter worth approximately $37,000. Quarry LP acquired a new stake in shares of Global Payments in the first quarter worth approximately $42,000. Finally, Golden State Wealth Management LLC boosted its stake in shares of 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 acquiring an additional 438 shares during the last quarter. 89.76% of the stock is owned by institutional investors and hedge funds.

Global Payments Price Performance

NYSE:GPN opened at $85.19 on Thursday. Global Payments Inc. has a 52 week low of $65.93 and a 52 week high of $120.00. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $20.67 billion, a P/E ratio of 14.89, a P/E/G ratio of 0.83 and a beta of 0.97. The stock's fifty day moving average is $83.98 and its two-hundred day moving average is $84.32.

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

Global Payments Announces Dividend

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

Insider Activity at Global Payments

In other news, General Counsel Dara L. Steele-Belkin sold 2,000 shares of the company'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 transaction, the general counsel directly owned 30,713 shares in the company, valued at approximately $2,641,318. This represents a 6.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.01% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on GPN shares. Wall Street Zen raised Global Payments from a "hold" rating to a "buy" rating in a research note on Thursday, May 15th. B. Riley restated a "buy" rating on shares of Global Payments in a report on Wednesday, July 16th. UBS Group increased their price target on Global Payments from $85.00 to $93.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. TD Cowen cut Global Payments from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 21st. Finally, Truist Financial increased their price target on Global Payments from $79.00 to $83.00 and gave the company a "hold" rating in a report on Thursday, July 17th. Ten analysts have rated the stock with a Buy rating and nineteen have issued a Hold rating to the stock. According to MarketBeat, Global Payments currently has an average rating of "Hold" and an average price target 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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