QRG Capital Management Inc. Purchases 9,535 Shares of Global Payments Inc. $GPN

QRG Capital Management Inc. raised its position in shares of Global Payments Inc. (NYSE:GPN) by 209.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,093 shares of the business services provider’s stock after acquiring an additional 9,535 shares during the period. QRG Capital Management Inc.’s holdings in Global Payments were worth $1,128,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in GPN. NBC Securities Inc. bought a new stake in shares of Global Payments during the first quarter worth approximately $30,000. Larson Financial Group LLC boosted its holdings in shares of Global Payments by 546.6% during the first quarter. Larson Financial Group LLC now owns 375 shares of the business services provider’s stock worth $37,000 after acquiring an additional 317 shares during the period. Zions Bancorporation National Association UT acquired a new stake in shares of Global Payments in the first quarter valued at approximately $37,000. Quarry LP acquired a new stake in shares of Global Payments in the first quarter valued at approximately $42,000. Finally, Golden State Wealth Management LLC raised its position in shares of Global Payments by 4,866.7% in the first quarter. Golden State Wealth Management LLC now owns 447 shares of the business services provider’s stock valued at $44,000 after buying an additional 438 shares in the last quarter. Institutional investors own 89.76% of the company’s stock.

Global Payments Stock Performance

NYSE GPN opened at $88.55 on Thursday. The firm’s fifty day moving average price is $85.66 and its two-hundred day moving average price is $82.58. The stock has a market cap of $21.48 billion, a PE ratio of 15.48, a PEG ratio of 0.84 and a beta of 0.98. Global Payments Inc. has a fifty-two week low of $65.93 and a fifty-two week high of $120.00. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95.

Global Payments (NYSE:GPN) last posted 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 firm had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $2.36 billion. Global Payments had a net margin of 15.07% and a return on equity of 12.47%. The company’s revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.93 earnings per share. On average, equities analysts expect that Global Payments Inc. will post 11.89 EPS for the current fiscal year.

Global Payments Announces Dividend

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

Insider Buying and Selling at Global Payments

In related news, General Counsel Dara L. Steele-Belkin sold 2,000 shares of the business’s stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $86.00, for a total value of $172,000.00. Following the sale, 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 document filed with the SEC, which is available through the SEC website. 1.01% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

GPN has been the subject of a number of analyst reports. KeyCorp reiterated an “overweight” rating and issued a $100.00 price target (up from $90.00) on shares of Global Payments in a research report on Thursday, August 7th. B. Riley reiterated a “buy” rating on shares of Global Payments in a research report on Wednesday, July 16th. JPMorgan Chase & Co. lifted their price target on shares of Global Payments from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Thursday, August 7th. Royal Bank Of Canada lifted their price target on shares of Global Payments from $86.00 to $93.00 and gave the company a “sector perform” rating in a research report on Thursday, August 7th. Finally, TD Cowen downgraded shares of Global Payments from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 21st. Eight analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $103.75.

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.