KLP Kapitalforvaltning AS Buys 4,200 Shares of Global Payments Inc. $GPN

KLP Kapitalforvaltning AS grew its stake in shares of Global Payments Inc. (NYSE:GPN) by 4.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 98,937 shares of the business services provider’s stock after acquiring an additional 4,200 shares during the period. KLP Kapitalforvaltning AS’s holdings in Global Payments were worth $7,919,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Perigon Wealth Management LLC raised its position in shares of Global Payments by 3.8% during the 1st quarter. Perigon Wealth Management LLC now owns 3,932 shares of the business services provider’s stock worth $385,000 after purchasing an additional 144 shares during the last quarter. Transcend Capital Advisors LLC raised its position in shares of Global Payments by 7.9% during the 1st quarter. Transcend Capital Advisors LLC now owns 2,135 shares of the business services provider’s stock worth $209,000 after purchasing an additional 157 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in Global Payments by 5.5% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 3,027 shares of the business services provider’s stock valued at $242,000 after acquiring an additional 158 shares in the last quarter. Valeo Financial Advisors LLC grew its stake in Global Payments by 5.1% during the 2nd quarter. Valeo Financial Advisors LLC now owns 3,320 shares of the business services provider’s stock valued at $266,000 after acquiring an additional 161 shares in the last quarter. Finally, Pinnacle Associates Ltd. grew its stake in Global Payments by 4.1% during the 1st quarter. Pinnacle Associates Ltd. now owns 4,342 shares of the business services provider’s stock valued at $425,000 after acquiring an additional 171 shares in the last quarter. Institutional investors own 89.76% of the company’s stock.

Global Payments Stock Performance

Global Payments stock opened at $87.16 on Friday. The firm has a 50 day simple moving average of $85.80 and a 200-day simple moving average of $82.49. 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. The stock has a market cap of $21.15 billion, a price-to-earnings ratio of 15.24, a price-to-earnings-growth ratio of 0.85 and a beta of 0.98.

Global Payments (NYSE:GPN) last posted its quarterly earnings results on Wednesday, August 6th. The business services provider reported $3.10 earnings per share for the quarter, beating the consensus estimate of $3.06 by $0.04. Global Payments had a net margin of 15.07% and a return on equity of 12.47%. The business had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.36 billion. During the same quarter in the prior year, the company posted $2.93 EPS. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. On average, analysts expect that Global Payments Inc. will post 11.89 EPS for the current year.

Global Payments Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 26th. Stockholders 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 dividend payout ratio is 17.48%.

Analyst Ratings Changes

GPN has been the subject of several research reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Global Payments in a research note on Wednesday. Keefe, Bruyette & Woods upped their price objective on shares of Global Payments from $81.00 to $85.00 and gave the company a “market perform” rating in a research note on Wednesday, July 9th. KeyCorp reaffirmed an “overweight” rating and set a $100.00 price objective (up previously from $90.00) on shares of Global Payments in a research note on Thursday, August 7th. TD Cowen cut shares of Global Payments from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 21st. Finally, Truist Financial upped their price objective on shares of Global Payments from $79.00 to $83.00 and gave the company a “hold” rating in a research note on Thursday, July 17th. Eight analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $103.75.

Insider Buying and Selling at Global Payments

In related news, General Counsel Dara L. Steele-Belkin sold 2,000 shares of the stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $86.00, for a total transaction of $172,000.00. Following the completion of the transaction, the general counsel owned 30,713 shares of the company’s stock, valued at approximately $2,641,318. This trade represents a 6.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.01% of the company’s stock.

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.