Global Payments Inc. $GPN Shares Acquired by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC lifted its position in shares of Global Payments Inc. (NYSE:GPN) by 9.3% during the second quarter, Holdings Channel reports. The firm owned 84,190 shares of the business services provider’s stock after acquiring an additional 7,161 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Global Payments were worth $6,739,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in GPN. Pzena Investment Management LLC increased its position in shares of Global Payments by 32.6% during the second quarter. Pzena Investment Management LLC now owns 11,050,253 shares of the business services provider’s stock worth $884,462,000 after purchasing an additional 2,716,156 shares in the last quarter. Nuveen LLC acquired a new position in Global Payments in the 1st quarter valued at about $94,107,000. Amundi increased its position in Global Payments by 77.5% in the 1st quarter. Amundi now owns 2,001,585 shares of the business services provider’s stock valued at $186,107,000 after acquiring an additional 874,175 shares during the period. National Bank of Canada FI increased its position in Global Payments by 346.9% in the 1st quarter. National Bank of Canada FI now owns 912,667 shares of the business services provider’s stock valued at $89,368,000 after acquiring an additional 708,451 shares during the period. Finally, Strs Ohio acquired a new position in Global Payments in the 1st quarter valued at about $66,441,000. Institutional investors and hedge funds own 89.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Truist Financial boosted their price target on Global Payments from $79.00 to $83.00 and gave the company a “hold” rating in a research report on Thursday, July 17th. TD Cowen cut Global Payments from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 21st. Royal Bank Of Canada boosted their price target on Global Payments from $86.00 to $93.00 and gave the company a “sector perform” rating in a research report on Thursday, August 7th. UBS Group boosted their price target on Global Payments from $85.00 to $93.00 and gave the company a “neutral” rating in a research report on Thursday, August 7th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Global Payments in a research report on Wednesday, October 8th. Eight research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. Based on data from MarketBeat, Global Payments currently has a consensus rating of “Hold” and a consensus price target of $103.75.

Global Payments Stock Performance

NYSE GPN opened at $84.24 on Tuesday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. The business’s 50 day moving average is $86.01 and its two-hundred day moving average is $82.05. Global Payments Inc. has a 12-month low of $65.93 and a 12-month high of $120.00. The stock has a market capitalization of $20.44 billion, a price-to-earnings ratio of 14.73, a PEG ratio of 0.79 and a beta of 0.98.

Global Payments (NYSE:GPN) last released its earnings results on Wednesday, August 6th. The business services provider reported $3.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.06 by $0.04. The company had revenue of $2.36 billion for 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 firm’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.93 EPS. Research analysts expect that Global Payments Inc. will post 11.89 EPS for the current year.

Global Payments Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 12th were paid 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 dividend yield of 1.2%. Global Payments’s payout ratio is 17.48%.

Insider Activity at Global Payments

In other news, General Counsel Dara L. Steele-Belkin sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $86.00, for a total transaction of $172,000.00. Following the sale, the general counsel owned 30,713 shares of the company’s stock, valued at $2,641,318. The trade was a 6.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.01% of the stock is owned by company insiders.

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.