Biltmore Wealth Management LLC Has $438,000 Holdings in Global Payments Inc (NYSE:GPN)

Biltmore Wealth Management LLC cut its stake in Global Payments Inc (NYSE:GPN) by 9.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,584 shares of the business services provider’s stock after selling 258 shares during the period. Global Payments comprises approximately 0.3% of Biltmore Wealth Management LLC’s holdings, making the stock its 27th largest holding. Biltmore Wealth Management LLC’s holdings in Global Payments were worth $438,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Lone Pine Capital LLC raised its holdings in shares of Global Payments by 52.7% in the 1st quarter. Lone Pine Capital LLC now owns 4,954,572 shares of the business services provider’s stock worth $714,598,000 after buying an additional 1,709,354 shares in the last quarter. Bank of New York Mellon Corp grew its position in Global Payments by 6.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,515,894 shares of the business services provider’s stock worth $426,747,000 after acquiring an additional 154,884 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Global Payments by 18.6% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,795,430 shares of the business services provider’s stock worth $304,541,000 after acquiring an additional 281,375 shares during the last quarter. California Public Employees Retirement System grew its position in Global Payments by 4.0% during the 2nd quarter. California Public Employees Retirement System now owns 1,509,350 shares of the business services provider’s stock worth $256,016,000 after acquiring an additional 58,744 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in Global Payments by 99.9% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,452,546 shares of the business services provider’s stock worth $209,501,000 after acquiring an additional 725,797 shares during the last quarter. 86.81% of the stock is owned by institutional investors and hedge funds.

In other Global Payments news, Director William I. Jacobs sold 7,224 shares of Global Payments stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $174.90, for a total value of $1,263,477.60. Following the sale, the director now owns 32,117 shares of the company’s stock, valued at approximately $5,617,263.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William I. Jacobs sold 500 shares of Global Payments stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $171.46, for a total value of $85,730.00. Following the completion of the sale, the director now directly owns 24,393 shares in the company, valued at approximately $4,182,423.78. The disclosure for this sale can be found here. Insiders have sold a total of 8,224 shares of company stock worth $1,436,788 in the last ninety days. 0.88% of the stock is currently owned by company insiders.

A number of equities research analysts recently commented on GPN shares. Loop Capital started coverage on Global Payments in a research report on Tuesday, September 22nd. They set a “buy” rating and a $199.00 price target on the stock. Truist Financial increased their price target on Global Payments from $210.00 to $235.00 and gave the stock a “buy” rating in a research report on Tuesday, August 4th. They noted that the move was a valuation call. Goldman Sachs Group initiated coverage on Global Payments in a research report on Tuesday, July 14th. They issued a “buy” rating and a $197.00 price objective on the stock. Mizuho initiated coverage on Global Payments in a research report on Wednesday, August 26th. They issued a “neutral” rating and a $165.00 price objective on the stock. Finally, Guggenheim increased their price objective on Global Payments from $191.00 to $212.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. Six analysts have rated the stock with a hold rating and thirty have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $201.59.

Shares of Global Payments stock opened at $177.06 on Friday. The company has a market capitalization of $52.98 billion, a PE ratio of 119.64, a PEG ratio of 1.51 and a beta of 1.10. Global Payments Inc has a 12 month low of $105.54 and a 12 month high of $209.62. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.31. The stock’s fifty day simple moving average is $176.20 and its 200 day simple moving average is $169.72.

Global Payments (NYSE:GPN) last issued its quarterly earnings data on Monday, August 3rd. The business services provider reported $1.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.04 by $0.27. The business had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.47 billion. Global Payments had a return on equity of 5.61% and a net margin of 5.68%. The firm’s revenue was up 71.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.51 EPS. Analysts predict that Global Payments Inc will post 5.96 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 24th. Investors of record on Thursday, September 10th were paid a dividend of $0.195 per share. This represents a $0.78 annualized dividend and a yield of 0.44%. The ex-dividend date was Wednesday, September 9th. Global Payments’s payout ratio is presently 13.31%.

Global Payments Profile

Global Payments Inc provides payment technology and software solutions for card, electronic, check, and digital-based payments. The company operates in three segments: North America, Europe, and Asia-Pacific. It offers authorization services, settlement and funding services, customer support and help-desk functions, chargeback resolution, terminal rental, sales and deployment, payment security services, consolidated billing and statements, and online reporting services.

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Institutional Ownership by Quarter for Global Payments (NYSE:GPN)

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