Global Payments Inc. (NYSE:GPN) Shares Purchased by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co boosted its position in shares of Global Payments Inc. (NYSE:GPN) by 12.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 267,483 shares of the business services provider’s stock after purchasing an additional 29,289 shares during the period. CANADA LIFE ASSURANCE Co owned 0.10% of Global Payments worth $35,775,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Turtle Creek Wealth Advisors LLC purchased a new position in Global Payments during the 4th quarter worth approximately $30,000. West Paces Advisors Inc. boosted its stake in shares of Global Payments by 54.5% during the 1st quarter. West Paces Advisors Inc. now owns 309 shares of the business services provider’s stock valued at $41,000 after buying an additional 109 shares during the period. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Global Payments during the 4th quarter valued at $41,000. North Star Investment Management Corp. boosted its stake in shares of Global Payments by 154.7% during the 1st quarter. North Star Investment Management Corp. now owns 354 shares of the business services provider’s stock valued at $47,000 after buying an additional 215 shares during the period. Finally, CVA Family Office LLC acquired a new stake in shares of Global Payments during the 4th quarter valued at $50,000. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on GPN shares. Robert W. Baird decreased their target price on shares of Global Payments from $182.00 to $150.00 and set an “outperform” rating for the company in a research note on Thursday, May 2nd. Evercore ISI reduced their price objective on shares of Global Payments from $170.00 to $160.00 and set an “outperform” rating for the company in a research note on Tuesday, June 25th. Barclays reduced their price objective on shares of Global Payments from $160.00 to $145.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. Morgan Stanley lifted their price objective on shares of Global Payments from $160.00 to $164.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Global Payments from $150.00 to $140.00 and set an “outperform” rating for the company in a research note on Monday, July 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat.com, Global Payments currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.32.

Insider Buying and Selling

In related news, VP Andrea M. Carter sold 3,300 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $111.34, for a total transaction of $367,422.00. Following the transaction, the vice president now directly owns 25,209 shares of the company’s stock, valued at $2,806,770.06. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.98% of the stock is owned by insiders.

Global Payments Stock Performance

Shares of NYSE GPN traded up $1.08 during mid-day trading on Thursday, reaching $99.46. 709,302 shares of the company were exchanged, compared to its average volume of 2,309,613. The company’s 50-day simple moving average is $98.73 and its 200-day simple moving average is $117.92. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $25.39 billion, a P/E ratio of 19.81, a P/E/G ratio of 0.64 and a beta of 0.98. Global Payments Inc. has a twelve month low of $91.60 and a twelve month high of $141.77.

Global Payments (NYSE:GPN) last posted 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 company had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.17 billion. Global Payments had a net margin of 13.40% and a return on equity of 11.72%. As a group, research analysts predict that Global Payments Inc. will post 11.09 earnings per share for the current year.

Global Payments Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date was Friday, June 14th. Global Payments’s dividend payout ratio is presently 19.84%.

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.