6,332 Shares in Global Payments Inc. $GPN Purchased by United Services Automobile Association

Key Points

• United Services Automobile Association acquired a new stake of 6,332 shares in Global Payments Inc., valued at approximately $617,000, during the first quarter.
• Global Payments reported earnings of $3.10 per share, exceeding analyst estimates of $3.06, with quarterly revenue of $2.36 billion.
• The company announced a quarterly dividend of $0.25 per share, representing a 1.2% yield, with the ex-dividend date set for September 12th.

United Services Automobile Association purchased a new position in Global Payments Inc. (NYSE:GPN - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,332 shares of the business services provider's stock, valued at approximately $617,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC grew its stake in 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 purchasing an additional 438 shares during the period. Tradewinds LLC. purchased a new stake in Global Payments in the first quarter worth $685,000. Argyle Capital Management LLC grew its stake in Global Payments by 114.4% in the first quarter. Argyle Capital Management LLC now owns 18,305 shares of the business services provider's stock worth $1,792,000 after purchasing an additional 9,768 shares during the period. North Star Asset Management Inc. grew its stake in Global Payments by 3.3% in the fourth quarter. North Star Asset Management Inc. now owns 282,933 shares of the business services provider's stock worth $31,705,000 after purchasing an additional 8,947 shares during the period. Finally, Malaga Cove Capital LLC grew its stake in Global Payments by 85.0% in the first quarter. Malaga Cove Capital LLC now owns 15,094 shares of the business services provider's stock worth $1,478,000 after purchasing an additional 6,933 shares during the period. 89.76% of the stock is owned by hedge funds and other institutional investors.

Global Payments Stock Performance

Shares of NYSE GPN traded down $1.33 during trading on Friday, hitting $85.35. The company had a trading volume of 1,344,702 shares, compared to its average volume of 1,990,322. The stock has a 50 day simple moving average of $84.15 and a 200 day simple moving average of $83.96. 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 12 month low of $65.93 and a 12 month high of $120.00. The firm has a market capitalization of $20.71 billion, a P/E ratio of 14.92, a price-to-earnings-growth ratio of 0.83 and a beta of 0.97.

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

Global Payments Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, September 12th. This represents a $1.00 annualized dividend and a dividend yield of 1.2%. Global Payments's dividend payout ratio (DPR) is currently 17.48%.

Insider Activity

In related news, General Counsel Dara L. Steele-Belkin sold 2,000 shares of the stock in a transaction dated Thursday, August 7th. The stock was 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 in the company, valued at approximately $2,641,318. This trade represents a 6.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.01% of the company's stock.

Analyst Ratings Changes

GPN has been the topic of a number of recent research reports. UBS Group increased their target price on Global Payments from $85.00 to $93.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. Royal Bank Of Canada increased their target price on Global Payments from $86.00 to $93.00 and gave the stock a "sector perform" rating in a research note on Thursday, August 7th. KeyCorp reissued an "overweight" rating and issued a $100.00 target price (up from $90.00) on shares of Global Payments in a research note on Thursday, August 7th. JPMorgan Chase & Co. increased their target price on Global Payments from $85.00 to $95.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. Finally, B. Riley reissued a "buy" rating on shares of Global Payments in a research note on Wednesday, July 16th. Ten investment analysts have rated the stock with a Buy rating and nineteen have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $112.21.

Global Payments Company 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.