Norway Savings Bank acquired a new stake in Global Payments Inc (NYSE:GPN) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 275 shares of the business services provider’s stock, valued at approximately $49,000.

Other large investors have also bought and sold shares of the company. Lone Pine Capital LLC grew its position in shares of Global Payments by 52.7% in the first quarter. Lone Pine Capital LLC now owns 4,954,572 shares of the business services provider’s stock valued at $714,598,000 after purchasing an additional 1,709,354 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Global Payments by 6.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,515,894 shares of the business services provider’s stock valued at $426,747,000 after acquiring an additional 154,884 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Global Payments by 18.6% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,795,430 shares of the business services provider’s stock worth $304,541,000 after acquiring an additional 281,375 shares during the period. California Public Employees Retirement System boosted its position in shares of Global Payments by 4.0% in the second quarter. California Public Employees Retirement System now owns 1,509,350 shares of the business services provider’s stock worth $256,016,000 after acquiring an additional 58,744 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in Global Payments by 99.9% in the first quarter. The Manufacturers Life Insurance Company now owns 1,452,546 shares of the business services provider’s stock valued at $209,501,000 after purchasing an additional 725,797 shares during the period. Hedge funds and other institutional investors own 86.81% of the company’s stock.

In other news, Director William I. Jacobs sold 7,224 shares of Global Payments stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $174.90, for a total transaction of $1,263,477.60. Following the sale, the director now owns 32,117 shares of the company’s stock, valued at approximately $5,617,263.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William I. Jacobs sold 500 shares of the business’s stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $175.16, for a total value of $87,580.00. Following the sale, the director now owns 23,893 shares in the company, valued at $4,185,097.88. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,224 shares of company stock valued at $1,436,788. Corporate insiders own 0.88% of the company’s stock.

Several analysts have recently issued reports on the stock. Barclays boosted their price objective on shares of Global Payments from $195.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday, September 21st. Goldman Sachs Group assumed coverage on Global Payments in a research note on Tuesday, July 14th. They set a “buy” rating and a $197.00 price target for the company. Sanford C. Bernstein started coverage on Global Payments in a report on Tuesday, August 18th. They issued an “outperform” rating and a $201.00 price objective on the stock. Raymond James reissued a “buy” rating and set a $206.00 target price on shares of Global Payments in a research report on Monday, October 5th. Finally, Truist Financial lifted their price target on shares of Global Payments from $210.00 to $235.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. They noted that the move was a valuation call. Six analysts have rated the stock with a hold rating and thirty have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $201.59.

Shares of Global Payments stock opened at $177.06 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.31. Global Payments Inc has a 1-year low of $105.54 and a 1-year high of $209.62. The firm has a fifty day simple moving average of $176.20 and a 200-day simple moving average of $169.72. The stock has a market capitalization of $52.98 billion, a price-to-earnings ratio of 119.64, a PEG ratio of 1.51 and a beta of 1.10.

Global Payments (NYSE:GPN) last posted its quarterly earnings data on Monday, August 3rd. The business services provider reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.27. The business had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.47 billion. Global Payments had a return on equity of 5.61% and a net margin of 5.68%. The firm’s revenue was up 71.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.51 EPS. As a group, research analysts predict that Global Payments Inc will post 5.96 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, September 24th. Investors of record on Thursday, September 10th were given a dividend of $0.195 per share. This represents a $0.78 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend was Wednesday, September 9th. Global Payments’s dividend payout ratio (DPR) is currently 13.31%.

Global Payments Company Profile

Global Payments Inc provides payment technology and software solutions for card, electronic, check, and digital-based payments. The company operates in three segments: North America, Europe, and Asia-Pacific. It offers authorization services, settlement and funding services, customer support and help-desk functions, chargeback resolution, terminal rental, sales and deployment, payment security services, consolidated billing and statements, and online reporting services.

Further Reading: Net Margin – Understanding the Different Kinds of Profit

Institutional Ownership by Quarter for Global Payments (NYSE:GPN)

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