Ameritas Advisory Services LLC Purchases 2,790 Shares of Global Payments Inc. $GPN

Ameritas Advisory Services LLC grew its position in Global Payments Inc. (NYSE:GPN) by 34.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,886 shares of the business services provider’s stock after acquiring an additional 2,790 shares during the quarter. Ameritas Advisory Services LLC’s holdings in Global Payments were worth $871,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of GPN. SG Americas Securities LLC lifted its position in shares of Global Payments by 75,379.7% during the 1st quarter. SG Americas Securities LLC now owns 1,517,141 shares of the business services provider’s stock worth $148,558,000 after buying an additional 1,515,131 shares during the period. Nuveen LLC bought a new position in shares of Global Payments during the 1st quarter worth approximately $94,107,000. Amundi lifted its position in shares of Global Payments by 77.5% during the 1st quarter. Amundi now owns 2,001,585 shares of the business services provider’s stock worth $186,107,000 after buying an additional 874,175 shares during the period. National Bank of Canada FI lifted its position in shares of Global Payments by 346.9% during the 1st quarter. National Bank of Canada FI now owns 912,667 shares of the business services provider’s stock worth $89,368,000 after buying an additional 708,451 shares during the period. Finally, Strs Ohio bought a new position in shares of Global Payments during the 1st quarter worth approximately $66,441,000. Institutional investors own 89.76% of the company’s stock.

Insider Activity at Global Payments

In other news, General Counsel Dara L. Steele-Belkin sold 2,000 shares of Global Payments stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $86.00, for a total value of $172,000.00. Following the completion of the sale, the general counsel directly owned 30,713 shares of the company’s stock, valued at approximately $2,641,318. This trade represents a 6.11% decrease in their position. 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.

Global Payments Stock Up 1.8%

NYSE GPN opened at $88.00 on Monday. The stock has a fifty day moving average of $85.37 and a 200-day moving average of $82.56. The stock has a market capitalization of $21.35 billion, a P/E ratio of 15.38, a price-to-earnings-growth ratio of 0.84 and a beta of 0.98. Global Payments Inc. has a 52 week low of $65.93 and a 52 week high of $120.00. 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 (NYSE:GPN) last released its earnings results 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 company had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.36 billion. Global Payments had a return on equity of 12.47% and a net margin of 15.07%.The business’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period last year, the firm earned $2.93 EPS. On average, equities research analysts forecast that Global Payments Inc. will post 11.89 EPS for the current year.

Global Payments Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 12th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, September 12th. Global Payments’s dividend payout ratio (DPR) is 17.48%.

Analysts Set New Price Targets

Several equities analysts recently commented on GPN shares. Truist Financial raised their target price on Global Payments from $79.00 to $83.00 and gave the stock a “hold” rating in a research report on Thursday, July 17th. KeyCorp restated 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. Mizuho raised Global Payments from a “neutral” rating to an “outperform” rating and raised their price target for the company from $86.00 to $114.00 in a report on Friday, July 25th. JPMorgan Chase & Co. raised their price target on Global Payments from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Thursday, August 7th. Finally, Royal Bank Of Canada raised their price target on Global Payments from $86.00 to $93.00 and gave the company a “sector perform” rating in a report on Thursday, August 7th. Eight analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. According to MarketBeat.com, Global Payments currently has a consensus rating of “Hold” and an average price target of $103.75.

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.