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

Ameritas Advisory Services LLC lifted its stake in Global Payments Inc. (NYSE:GPN) by 34.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,886 shares of the business services provider’s stock after purchasing an additional 2,790 shares during the period. Ameritas Advisory Services LLC’s holdings in Global Payments were worth $871,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

Several research firms have weighed in on GPN. Truist Financial lifted their target price on Global Payments from $79.00 to $83.00 and gave the stock a “hold” rating in a report on Thursday, July 17th. 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 report on Thursday, August 7th. Weiss Ratings restated a “hold (c-)” rating on shares of Global Payments in a report on Saturday, September 27th. KeyCorp restated an “overweight” rating and issued a $100.00 price target (up from $90.00) on shares of Global Payments in a report on Thursday, August 7th. Finally, JPMorgan Chase & Co. boosted 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. Eight equities 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.com, Global Payments has an average rating of “Hold” and an average price target of $103.75.

Global Payments Price Performance

NYSE:GPN opened at $88.00 on Monday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95. The stock’s 50-day simple moving average is $85.37 and its 200 day simple moving average is $82.56. The company has a market cap of $21.35 billion, a P/E ratio of 15.38, a P/E/G 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.

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, beating analysts’ consensus estimates of $3.06 by $0.04. The business had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.36 billion. Global Payments had a return on equity of 12.47% and a net margin of 15.07%.Global Payments’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.93 earnings per share. As a group, sell-side analysts forecast that Global Payments Inc. will post 11.89 EPS for the current fiscal year.

Global Payments Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Friday, September 12th. Global Payments’s payout ratio is 17.48%.

Insiders Place Their Bets

In other Global Payments 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 transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.01% of the stock is currently owned by company insiders.

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.