Sound Income Strategies LLC Boosts Holdings in Global Payments Inc. (NYSE:GPN)

Sound Income Strategies LLC boosted its position in shares of Global Payments Inc. (NYSE:GPN) by 12.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 31,732 shares of the business services provider’s stock after purchasing an additional 3,397 shares during the quarter. Sound Income Strategies LLC’s holdings in Global Payments were worth $4,241,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of GPN. Norges Bank purchased a new stake in Global Payments in the 4th quarter valued at about $365,933,000. Ameriprise Financial Inc. raised its position in shares of Global Payments by 338.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,288,108 shares of the business services provider’s stock worth $379,416,000 after purchasing an additional 2,537,941 shares during the period. Alkeon Capital Management LLC grew its position in shares of Global Payments by 119.0% during the third quarter. Alkeon Capital Management LLC now owns 1,085,772 shares of the business services provider’s stock worth $125,287,000 after acquiring an additional 590,000 shares during the last quarter. Kodai Capital Management LP acquired a new stake in shares of Global Payments in the fourth quarter valued at approximately $69,029,000. Finally, ANTIPODES PARTNERS Ltd bought a new stake in Global Payments during the 4th quarter valued at $68,677,000. 89.76% of the stock is currently owned by institutional investors and hedge funds.

Global Payments Trading Down 0.5 %

GPN traded down $0.51 during trading on Wednesday, reaching $95.14. The company had a trading volume of 2,202,394 shares, compared to its average volume of 2,357,265. The stock has a market cap of $24.28 billion, a P/E ratio of 18.88, a PEG ratio of 0.61 and a beta of 0.98. Global Payments Inc. has a 52 week low of $91.60 and a 52 week high of $141.77. The business has a 50 day simple moving average of $106.73 and a 200-day simple moving average of $122.10. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.68.

Global Payments (NYSE:GPN) last released its earnings results on Wednesday, May 1st. The business services provider reported $2.48 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $0.07. Global Payments had a return on equity of 11.72% and a net margin of 13.40%. The firm had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.17 billion. On average, equities analysts anticipate that Global Payments Inc. will post 11.08 EPS for the current fiscal year.

Global Payments Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend is Friday, June 14th. Global Payments’s dividend payout ratio is presently 19.84%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. TD Cowen lowered their price target on Global Payments from $152.00 to $125.00 and set a “buy” rating on the stock in a research report on Friday, June 21st. BMO Capital Markets dropped their target price on Global Payments from $143.00 to $128.00 and set a “market perform” rating on the stock in a research report on Thursday, May 2nd. Keefe, Bruyette & Woods decreased their target price on Global Payments from $158.00 to $150.00 and set an “outperform” rating for the company in a research report on Thursday, May 2nd. Susquehanna lowered their price target on Global Payments from $160.00 to $157.00 and set a “positive” rating on the stock in a research note on Thursday, May 2nd. Finally, Citigroup reduced their price target on shares of Global Payments from $163.00 to $155.00 and set a “buy” rating on the stock 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 given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $145.68.

Insiders Place Their Bets

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

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.