Sound Income Strategies LLC Has $4.88 Million Stake in Global Payments Inc. $GPN

Key Points

• Sound Income Strategies LLC increased its stake in Global Payments Inc. by 7.9%, holding 60,905 shares valued at approximately $4.88 million as of their latest SEC filing.
• Several hedge funds recently acquired new positions in Global Payments, contributing to 89.76% of the company's stock being owned by institutional investors.
• Global Payments reported an EPS of $3.10 for the latest quarter, exceeding expectations, with a revenue of $2.36 billion, indicating a 1.6% year-over-year increase.

Sound Income Strategies LLC raised its position in Global Payments Inc. (NYSE:GPN - Free Report) by 7.9% during the second quarter, according to its most recent filing with the SEC. The firm owned 60,905 shares of the business services provider's stock after purchasing an additional 4,478 shares during the period. Sound Income Strategies LLC's holdings in Global Payments were worth $4,875,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GPN. Brighton Jones LLC acquired a new position in shares of Global Payments in the 4th quarter worth approximately $725,000. Two Sigma Investments LP acquired a new position in shares of Global Payments in the 4th quarter worth approximately $1,006,000. Two Sigma Advisers LP acquired a new position in shares of Global Payments in the 4th quarter worth approximately $863,000. Wealth Enhancement Advisory Services LLC lifted its position in shares of Global Payments by 121.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 41,816 shares of the business services provider's stock worth $4,686,000 after purchasing an additional 22,920 shares during the period. Finally, Versant Capital Management Inc lifted its position in shares of Global Payments by 354.0% in the 1st quarter. Versant Capital Management Inc now owns 740 shares of the business services provider's stock worth $72,000 after purchasing an additional 577 shares during the period. Institutional investors and hedge funds own 89.76% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods boosted their price target on shares of Global Payments from $81.00 to $85.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 9th. KeyCorp reiterated an "overweight" rating and set a $100.00 target price (up previously from $90.00) on shares of Global Payments in a research report on Thursday, August 7th. UBS Group boosted their target price on shares of Global Payments from $85.00 to $93.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Royal Bank Of Canada boosted their target price on shares of Global Payments from $86.00 to $93.00 and gave the company a "sector perform" rating in a research report on Thursday, August 7th. Finally, JPMorgan Chase & Co. boosted their target price 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. Eight investment analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. Based on data from MarketBeat, Global Payments currently has an average rating of "Hold" and an average target price of $103.75.

Insider Buying and Selling

In other Global Payments news, General Counsel Dara L. Steele-Belkin sold 2,000 shares of the company's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $86.00, for a total transaction of $172,000.00. Following the sale, the general counsel directly owned 30,713 shares of the company's stock, valued at $2,641,318. This represents a 6.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.01% of the stock is currently owned by company insiders.

Global Payments Price Performance

GPN opened at $84.43 on Monday. The firm has a market cap of $20.48 billion, a P/E ratio of 14.76, a PEG ratio of 0.80 and a beta of 0.96. The firm has a 50-day moving average of $85.15 and a 200 day moving average of $82.93. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95. Global Payments Inc. has a fifty-two week low of $65.93 and a fifty-two week high of $120.00.

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

Global Payments Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, September 12th. This represents a $1.00 annualized dividend and a yield of 1.2%. 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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