Global Payments Inc. $GPN Shares Sold by Camelot Portfolios LLC

Camelot Portfolios LLC lessened its holdings in shares of Global Payments Inc. (NYSE:GPN) by 9.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,199 shares of the business services provider’s stock after selling 353 shares during the period. Camelot Portfolios LLC’s holdings in Global Payments were worth $256,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. NBC Securities Inc. purchased a new stake in shares of Global Payments in the first quarter valued at $30,000. Larson Financial Group LLC grew its stake in shares of Global Payments by 546.6% in the first quarter. Larson Financial Group LLC now owns 375 shares of the business services provider’s stock valued at $37,000 after buying an additional 317 shares in the last quarter. Zions Bancorporation National Association UT acquired a new stake in Global Payments during the 1st quarter valued at approximately $37,000. Quarry LP acquired a new stake in Global Payments during the 1st quarter valued at approximately $42,000. Finally, Golden State Wealth Management LLC grew its position in shares of Global Payments by 4,866.7% in the 1st quarter. Golden State Wealth Management LLC now owns 447 shares of the business services provider’s stock worth $44,000 after acquiring an additional 438 shares in the last quarter. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on GPN shares. TD Cowen lowered Global Payments from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 21st. B. Riley reaffirmed a “buy” rating on shares of Global Payments in a research note on Wednesday, July 16th. Evercore ISI lifted their target price on Global Payments from $85.00 to $90.00 and gave the company an “in-line” rating in a research note on Friday, August 8th. UBS Group lifted their target price on Global Payments from $85.00 to $93.00 and gave the company a “neutral” rating in a research note on Thursday, August 7th. Finally, Mizuho raised Global Payments from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $86.00 to $114.00 in a research note on Friday, July 25th. Eight analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. According to MarketBeat.com, Global Payments has a consensus rating of “Hold” and a consensus target price of $103.75.

Insiders Place Their Bets

In related news, General Counsel Dara L. Steele-Belkin sold 2,000 shares of the company’s stock in a transaction 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 directly owned 30,713 shares of the company’s stock, valued at approximately $2,641,318. The trade was a 6.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.01% of the company’s stock.

Global Payments Stock Down 0.6%

Shares of Global Payments stock opened at $84.43 on Friday. The stock’s fifty day moving average is $85.15 and its 200-day moving average is $82.99. The firm has a market capitalization of $20.48 billion, a PE ratio of 14.76, a price-to-earnings-growth ratio of 0.80 and a beta of 0.97. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. Global Payments Inc. has a 12-month low of $65.93 and a 12-month high of $120.00.

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

Global Payments Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Friday, September 12th. Global Payments’s payout ratio is presently 17.48%.

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.