Pinnacle Wealth Planning Services Inc. Buys New Position in Global Payments Inc. (NYSE:GPN)

Pinnacle Wealth Planning Services Inc. acquired a new stake in shares of Global Payments Inc. (NYSE:GPN) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,572 shares of the business services provider’s stock, valued at approximately $210,000.

Other hedge funds have also recently bought and sold shares of the company. Turtle Creek Wealth Advisors LLC acquired a new stake in Global Payments during the 4th quarter valued at approximately $30,000. McGlone Suttner Wealth Management Inc. acquired a new stake in Global Payments during the 4th quarter valued at approximately $41,000. West Paces Advisors Inc. grew its position in shares of Global Payments by 54.5% in the 1st quarter. West Paces Advisors Inc. now owns 309 shares of the business services provider’s stock worth $41,000 after acquiring an additional 109 shares in the last quarter. North Star Investment Management Corp. grew its position in shares of Global Payments by 154.7% in the 1st quarter. North Star Investment Management Corp. now owns 354 shares of the business services provider’s stock worth $47,000 after acquiring an additional 215 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its position in shares of Global Payments by 26.7% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 34,922 shares of the business services provider’s stock worth $48,000 after acquiring an additional 7,369 shares in the last quarter. Institutional investors and hedge funds own 89.76% of the company’s stock.

Insider Buying and Selling

In related news, VP Andrea M. Carter sold 3,300 shares of Global Payments stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $111.34, for a total value of $367,422.00. Following the transaction, the vice president now directly owns 25,209 shares in the company, valued at approximately $2,806,770.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.98% of the company’s stock.

Global Payments Price Performance

Shares of NYSE GPN traded down $0.52 during mid-day trading on Friday, reaching $100.64. The company had a trading volume of 1,921,818 shares, compared to its average volume of 2,166,875. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.68. The stock has a market cap of $25.69 billion, a PE ratio of 19.97, a P/E/G ratio of 0.64 and a beta of 0.98. The company has a 50-day moving average price of $99.33 and a two-hundred day moving average price of $118.48. Global Payments Inc. has a 1-year low of $91.60 and a 1-year high of $141.77.

Global Payments (NYSE:GPN) last issued its earnings results on Wednesday, May 1st. The business services provider reported $2.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.41 by $0.07. The business had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.17 billion. Global Payments had a return on equity of 11.72% and a net margin of 13.40%. On average, equities analysts anticipate that Global Payments Inc. will post 11.09 earnings per share for the current year.

Global Payments Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date was Friday, June 14th. Global Payments’s payout ratio is 19.84%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on GPN shares. Mizuho decreased their target price on Global Payments from $129.00 to $105.00 and set a “neutral” rating for the company in a research report on Wednesday, May 15th. Citigroup decreased their target price on Global Payments from $163.00 to $155.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. StockNews.com lowered Global Payments from a “buy” rating to a “hold” rating in a research report on Monday, June 10th. KeyCorp reduced their price objective on Global Payments from $155.00 to $145.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. Finally, Barclays reduced their price objective on Global Payments from $160.00 to $145.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $145.32.

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.