Wilmington Savings Fund Society FSB Sells 7,088 Shares of Global Payments Inc. $GPN

Wilmington Savings Fund Society FSB cut its position in shares of Global Payments Inc. (NYSE:GPN) by 16.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,744 shares of the business services provider’s stock after selling 7,088 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in Global Payments were worth $2,861,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. LRI Investments LLC grew its position in Global Payments by 53.4% during the 2nd quarter. LRI Investments LLC now owns 382 shares of the business services provider’s stock worth $31,000 after acquiring an additional 133 shares during the last quarter. Perigon Wealth Management LLC grew its position in Global Payments by 3.8% during the 1st quarter. Perigon Wealth Management LLC now owns 3,932 shares of the business services provider’s stock worth $385,000 after acquiring an additional 144 shares during the last quarter. Transcend Capital Advisors LLC grew its position in Global Payments by 7.9% during the 1st quarter. Transcend Capital Advisors LLC now owns 2,135 shares of the business services provider’s stock worth $209,000 after acquiring an additional 157 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its position in Global Payments by 5.5% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 3,027 shares of the business services provider’s stock worth $242,000 after acquiring an additional 158 shares during the last quarter. Finally, Valeo Financial Advisors LLC grew its position in Global Payments by 5.1% during the 2nd quarter. Valeo Financial Advisors LLC now owns 3,320 shares of the business services provider’s stock worth $266,000 after acquiring an additional 161 shares during the last quarter. 89.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Keefe, Bruyette & Woods raised their price target on Global Payments from $81.00 to $85.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 9th. KeyCorp restated an “overweight” rating and set a $100.00 price target (up from $90.00) on shares of Global Payments in a research report on Thursday, August 7th. UBS Group increased their price objective on Global Payments from $85.00 to $93.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. TD Cowen cut Global Payments from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 21st. Finally, Evercore ISI increased their price objective on Global Payments from $85.00 to $90.00 and gave the stock an “in-line” rating in a report on Friday, August 8th. Eight research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $103.75.

Global Payments Trading Up 2.6%

GPN opened at $86.44 on Wednesday. The stock has a market cap of $20.97 billion, a PE ratio of 15.11, a PEG ratio of 0.80 and a beta of 0.98. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. The business has a 50 day moving average of $86.16 and a 200-day moving average of $82.08. 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 EPS for the quarter, beating analysts’ consensus estimates 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 firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.93 EPS. Equities research analysts predict that Global Payments Inc. will post 11.89 earnings per share for the current fiscal 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 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Friday, September 12th. Global Payments’s dividend payout ratio (DPR) is presently 17.48%.

Insider Activity at Global Payments

In other news, General Counsel Dara L. Steele-Belkin sold 2,000 shares of the firm’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 value of $172,000.00. Following the completion of the transaction, the general counsel owned 30,713 shares in the company, valued at $2,641,318. This trade represents a 6.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.01% of the stock is currently owned by 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.