Oxbow Advisors LLC purchased a new stake in shares of Global Payments Inc. (NYSE:GPN – Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,350 shares of the business services provider’s stock, valued at approximately $533,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in GPN. Strive Financial Group LLC acquired a new position in shares of Global Payments during the 4th quarter worth about $25,000. DV Equities LLC acquired a new stake in Global Payments in the 4th quarter valued at approximately $26,000. Johnson Financial Group Inc. bought a new position in Global Payments in the 3rd quarter worth approximately $35,000. Torren Management LLC bought a new position in Global Payments in the 4th quarter worth approximately $34,000. Finally, Hantz Financial Services Inc. lifted its holdings in shares of Global Payments by 87.5% during the fourth quarter. Hantz Financial Services Inc. now owns 478 shares of the business services provider’s stock worth $37,000 after buying an additional 223 shares during the last quarter. 89.76% of the stock is owned by institutional investors and hedge funds.
Global Payments Stock Up 0.1%
NYSE GPN opened at $90.50 on Wednesday. Global Payments Inc. has a 1-year low of $61.16 and a 1-year high of $95.58. The company has a market capitalization of $23.95 billion, a price-to-earnings ratio of -30.37, a PEG ratio of 0.54 and a beta of 0.74. The stock’s 50 day moving average is $78.14 and its two-hundred day moving average is $73.43. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.90.
Global Payments Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 11th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.1%. The ex-dividend date is Friday, September 11th. Global Payments’s dividend payout ratio is currently -33.56%.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on GPN. Susquehanna set a $111.00 price objective on Global Payments and gave the company a “positive” rating in a research report on Wednesday, June 3rd. Keefe, Bruyette & Woods boosted their target price on shares of Global Payments from $76.00 to $95.00 and gave the stock a “market perform” rating in a research report on Thursday, August 6th. Truist Financial upped their target price on shares of Global Payments from $76.00 to $79.00 and gave the company a “hold” rating in a research note on Friday, July 24th. Wolfe Research raised shares of Global Payments from a “peer perform” rating to an “outperform” rating and set a $110.00 price target for the company in a report on Thursday, August 6th. Finally, HC Wainwright began coverage on shares of Global Payments in a research report on Thursday, August 6th. They issued a “buy” rating on the stock. Ten investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $90.68.
View Our Latest Stock Report on Global Payments
Global Payments Company Profile
Global Payments Inc (NYSE: GPN) is a worldwide provider of payment technology and software solutions that enables commerce for merchants, issuers and enterprises. The company develops and operates payment processing networks, point-of-sale systems and cloud-based software that facilitate electronic transactions across in-store, online and mobile channels. Its services span merchant acquiring, payment gateway services, omnichannel commerce platforms, and solutions for recurring and subscription billing.
Global Payments offers a range of products and services including integrated payment terminals and point-of-sale software, e-commerce and gateway technologies, fraud prevention and tokenization tools, and business analytics and reporting.
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