Praxis Investment Management Inc. Sells 700 Shares of Global Payments Inc. $GPN

Praxis Investment Management Inc. lowered its position in Global Payments Inc. (NYSE:GPN) by 13.6% during the 2nd quarter, Holdings Channel reports. The firm owned 4,430 shares of the business services provider’s stock after selling 700 shares during the quarter. Praxis Investment Management Inc.’s holdings in Global Payments were worth $355,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Golden State Wealth Management LLC grew its stake in 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 worth $44,000 after purchasing an additional 438 shares in the last quarter. Tradewinds LLC. bought a new position in Global Payments in the first quarter worth approximately $685,000. Argyle Capital Management LLC grew its stake in Global Payments by 114.4% in the first quarter. Argyle Capital Management LLC now owns 18,305 shares of the business services provider’s stock worth $1,792,000 after purchasing an additional 9,768 shares in the last quarter. Malaga Cove Capital LLC grew its stake in Global Payments by 85.0% in the first quarter. Malaga Cove Capital LLC now owns 15,094 shares of the business services provider’s stock worth $1,478,000 after purchasing an additional 6,933 shares in the last quarter. Finally, Teacher Retirement System of Texas grew its stake in Global Payments by 1,828.3% in the first quarter. Teacher Retirement System of Texas now owns 45,932 shares of the business services provider’s stock worth $4,498,000 after purchasing an additional 43,550 shares in the last quarter. Institutional investors own 89.76% of the company’s stock.

Insider Activity at Global Payments

In other news, General Counsel Dara L. Steele-Belkin sold 2,000 shares of the 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 completion of the sale, the general counsel owned 30,713 shares in the company, valued at approximately $2,641,318. This represents a 6.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.01% of the company’s stock.

Global Payments Stock Performance

Shares of GPN opened at $85.40 on Friday. Global Payments Inc. has a 12 month low of $65.93 and a 12 month high of $120.00. The stock has a fifty day moving average price of $86.30 and a 200-day moving average price of $81.79. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. The firm has a market cap of $20.72 billion, a PE ratio of 14.93, a P/E/G ratio of 0.82 and a beta of 0.98.

Global Payments (NYSE:GPN) last issued its quarterly earnings data on Wednesday, August 6th. The business services provider reported $3.10 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $2.36 billion. During the same quarter in the prior year, the business 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 predict that Global Payments Inc. will post 11.89 earnings per share for the current fiscal year.

Global Payments Dividend Announcement

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

Wall Street Analyst Weigh In

GPN has been the topic of several recent research reports. B. Riley reaffirmed a “buy” rating on shares of Global Payments in a research report on Wednesday, July 16th. Truist Financial increased their target price on Global Payments from $79.00 to $83.00 and gave the company a “hold” rating in a research report on Thursday, July 17th. Evercore ISI increased their target price 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. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Global Payments in a research report on Wednesday, October 8th. Finally, KeyCorp reaffirmed an “overweight” rating and set a $100.00 target price (up previously from $90.00) on shares of Global Payments in a research report on Thursday, August 7th. Eight investment 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.com, the company presently has a consensus rating of “Hold” and an average target price of $103.75.

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.