26,700 Shares in Global Payments Inc. (NYSE:GPN) Purchased by Ovata Capital Management Ltd

Ovata Capital Management Ltd acquired a new stake in shares of Global Payments Inc. (NYSE:GPN) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 26,700 shares of the business services provider’s stock, valued at approximately $2,582,000. Global Payments makes up about 1.4% of Ovata Capital Management Ltd’s investment portfolio, making the stock its 15th biggest position.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Pzena Investment Management LLC boosted its stake in shares of Global Payments by 194.2% during the 2nd quarter. Pzena Investment Management LLC now owns 6,423,463 shares of the business services provider’s stock valued at $621,149,000 after buying an additional 4,240,388 shares during the last quarter. Franklin Resources Inc. boosted its stake in Global Payments by 2.7% during the 4th quarter. Franklin Resources Inc. now owns 5,087,801 shares of the business services provider’s stock valued at $646,151,000 after acquiring an additional 132,635 shares during the last quarter. Boston Partners boosted its stake in Global Payments by 0.3% during the 1st quarter. Boston Partners now owns 4,797,677 shares of the business services provider’s stock valued at $639,967,000 after acquiring an additional 12,196 shares during the last quarter. Norges Bank acquired a new position in Global Payments during the 4th quarter worth $365,933,000. Finally, Glenview Capital Management LLC increased its position in shares of Global Payments by 5.5% in the 4th quarter. Glenview Capital Management LLC now owns 1,948,128 shares of the business services provider’s stock worth $247,412,000 after purchasing an additional 100,993 shares during the last quarter. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Global Payments news, CAO David M. Sheffield sold 1,651 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $100.73, for a total transaction of $166,305.23. Following the completion of the transaction, the chief accounting officer now directly owns 20,531 shares of the company’s stock, valued at approximately $2,068,087.63. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.98% of the stock is owned by corporate insiders.

Global Payments Trading Down 1.0 %

NYSE:GPN opened at $108.96 on Friday. The stock has a market cap of $27.81 billion, a price-to-earnings ratio of 21.62, a PEG ratio of 0.71 and a beta of 0.98. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.92 and a current ratio of 0.92. Global Payments Inc. has a 1 year low of $91.60 and a 1 year high of $141.77. The business has a fifty day moving average of $102.41 and a 200-day moving average of $111.88.

Global Payments (NYSE:GPN) last posted its quarterly earnings data on Wednesday, August 7th. The business services provider reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.90 by $0.03. The business had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.32 billion. Global Payments had a net margin of 14.26% and a return on equity of 11.93%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.48 earnings per share. Equities analysts predict that Global Payments Inc. will post 11.07 earnings per share for the current year.

Global Payments Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.92%. Global Payments’s dividend payout ratio is presently 19.84%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Wells Fargo & Company began coverage on shares of Global Payments in a research report on Wednesday, June 12th. They set an “equal weight” rating and a $100.00 price target on the stock. Stephens reduced their target price on Global Payments from $145.00 to $130.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Evercore ISI lowered their price target on Global Payments from $170.00 to $160.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. Royal Bank of Canada dropped their price target on Global Payments from $172.00 to $158.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, William Blair raised shares of Global Payments to a “strong-buy” rating in a report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Global Payments presently has a consensus rating of “Moderate Buy” and an average price target of $140.71.

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.