Teacher Retirement System of Texas Buys 11,651 Shares of Global Payments Inc. $GPN

Teacher Retirement System of Texas boosted its stake in Global Payments Inc. (NYSE:GPN) by 25.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 57,583 shares of the business services provider’s stock after purchasing an additional 11,651 shares during the quarter. Teacher Retirement System of Texas’ holdings in Global Payments were worth $4,609,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in GPN. LRI Investments LLC boosted its stake in Global Payments by 53.4% in the 2nd quarter. LRI Investments LLC now owns 382 shares of the business services provider’s stock worth $31,000 after purchasing an additional 133 shares during the period. Larson Financial Group LLC boosted its stake in Global Payments by 546.6% in the 1st quarter. Larson Financial Group LLC now owns 375 shares of the business services provider’s stock worth $37,000 after purchasing an additional 317 shares during the period. Zions Bancorporation National Association UT bought a new position in Global Payments in the 1st quarter worth about $37,000. Quarry LP bought a new position in Global Payments in the 1st quarter worth about $42,000. Finally, WPG Advisers LLC bought a new position in Global Payments in the 1st quarter worth about $49,000. Institutional investors own 89.76% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on GPN shares. TD Cowen downgraded Global Payments from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 21st. Truist Financial lifted 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. UBS Group lifted 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. JPMorgan Chase & Co. lifted their price target on Global Payments from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Thursday, August 7th. Finally, B. Riley reiterated a “buy” rating on shares of Global Payments in a research report on Wednesday, July 16th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and fourteen have given a Hold rating to the company. Based on data from MarketBeat.com, Global Payments currently has a consensus rating of “Hold” and an average target price of $103.37.

Insiders Place Their Bets

In related 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 value of $172,000.00. Following the completion of the sale, the general counsel owned 30,713 shares in the company, valued at $2,641,318. The trade was a 6.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.01% of the stock is owned by insiders.

Global Payments Stock Performance

NYSE:GPN opened at $77.68 on Friday. The business has a 50 day moving average of $86.00 and a 200 day moving average of $81.72. The company has a market capitalization of $18.85 billion, a price-to-earnings ratio of 13.58, a PEG ratio of 0.76 and a beta of 0.98. Global Payments Inc. has a 1-year low of $65.93 and a 1-year high of $120.00. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95.

Global Payments (NYSE:GPN) last released its earnings results on Wednesday, August 6th. The business services provider reported $3.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.06 by $0.04. The company had revenue of $2.36 billion during 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.93 EPS. On average, sell-side analysts predict that Global Payments Inc. will post 11.89 earnings per share for the current fiscal year.

Global Payments 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.