Aurdan Capital Management LLC Trims Holdings in Global Payments Inc. $GPN

Aurdan Capital Management LLC lessened its holdings in shares of Global Payments Inc. (NYSE:GPN) by 13.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,372 shares of the business services provider’s stock after selling 2,320 shares during the period. Aurdan Capital Management LLC’s holdings in Global Payments were worth $1,150,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. iA Global Asset Management Inc. increased its holdings in Global Payments by 624.3% during the 2nd quarter. iA Global Asset Management Inc. now owns 29,089 shares of the business services provider’s stock valued at $2,328,000 after purchasing an additional 25,073 shares during the period. Palogic Value Management L.P. increased its holdings in Global Payments by 7.7% during the 2nd quarter. Palogic Value Management L.P. now owns 13,905 shares of the business services provider’s stock valued at $1,113,000 after purchasing an additional 1,000 shares during the period. Versor Investments LP increased its holdings in Global Payments by 382.8% during the 2nd quarter. Versor Investments LP now owns 11,591 shares of the business services provider’s stock valued at $928,000 after purchasing an additional 9,190 shares during the period. Geneva Capital Management LLC increased its holdings in Global Payments by 1.1% during the 2nd quarter. Geneva Capital Management LLC now owns 53,910 shares of the business services provider’s stock valued at $4,315,000 after purchasing an additional 592 shares during the period. Finally, Assetmark Inc. boosted its position in Global Payments by 82.0% during the 2nd quarter. Assetmark Inc. now owns 8,738 shares of the business services provider’s stock valued at $699,000 after acquiring an additional 3,938 shares in the last quarter. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Global Payments Stock Performance

Shares of GPN opened at $77.68 on Friday. 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’s 50 day moving average price is $86.00 and its 200-day moving average price is $81.70. Global Payments Inc. has a 52 week low of $65.93 and a 52 week high of $120.00. The stock has a market cap of $18.85 billion, a P/E ratio of 13.58, a P/E/G ratio of 0.76 and a beta of 0.98.

Global Payments (NYSE:GPN) last issued its quarterly earnings results on Wednesday, August 6th. The business services provider reported $3.10 EPS for the quarter, topping analysts’ consensus estimates of $3.06 by $0.04. Global Payments had a return on equity of 12.47% and a net margin of 15.07%.The firm had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $2.36 billion. During the same period in the previous year, the firm posted $2.93 EPS. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. Equities research analysts anticipate that Global Payments Inc. will post 11.89 earnings per share for the current fiscal year.

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 value of $172,000.00. Following the sale, the general counsel directly 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 document filed with the SEC, which is available through the SEC website. 1.01% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

GPN has been the topic of several research reports. Evercore ISI lifted their price objective on Global Payments from $85.00 to $90.00 and gave the company an “in-line” rating in a research report on Friday, August 8th. Truist Financial lifted their price objective on Global Payments from $79.00 to $83.00 and gave the company a “hold” rating in a research report on Thursday, July 17th. Royal Bank Of Canada lifted their price objective 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 lifted their price objective 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 reaffirmed a “hold (c-)” rating on shares of Global Payments in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and fourteen have given a Hold rating to the company’s stock. According to data from MarketBeat, Global Payments has an average rating of “Hold” and a consensus price target of $103.37.

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.