Pallas Capital Advisors LLC Buys 482 Shares of Global Payments Inc. (NYSE:GPN)

Pallas Capital Advisors LLC boosted its stake in shares of Global Payments Inc. (NYSE:GPN) by 11.0% during the third quarter, Holdings Channel reports. The fund owned 4,872 shares of the business services provider’s stock after acquiring an additional 482 shares during the period. Pallas Capital Advisors LLC’s holdings in Global Payments were worth $485,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Cromwell Holdings LLC bought a new stake in Global Payments during the 3rd quarter worth about $25,000. New Covenant Trust Company N.A. bought a new stake in Global Payments during the 1st quarter worth about $31,000. LRI Investments LLC bought a new stake in Global Payments during the 1st quarter worth about $32,000. POM Investment Strategies LLC bought a new stake in Global Payments during the 2nd quarter worth about $32,000. Finally, Whittier Trust Co. of Nevada Inc. grew its holdings in Global Payments by 59.6% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 383 shares of the business services provider’s stock worth $39,000 after acquiring an additional 143 shares during the last quarter. Institutional investors own 89.76% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on GPN shares. Susquehanna reaffirmed a “positive” rating and issued a $147.00 target price on shares of Global Payments in a research note on Tuesday, September 17th. Stephens reduced their target price on shares of Global Payments from $130.00 to $125.00 and set an “overweight” rating on the stock in a research note on Friday, October 18th. StockNews.com lowered shares of Global Payments from a “buy” rating to a “hold” rating in a research note on Thursday, September 26th. TD Cowen reduced their target price on shares of Global Payments from $125.00 to $122.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Finally, Morgan Stanley reduced their target price on shares of Global Payments from $164.00 to $156.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $137.52.

Insider Activity

In related news, CAO David M. Sheffield sold 1,651 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $100.73, for a total transaction of $166,305.23. Following the transaction, the chief accounting officer now directly owns 20,531 shares in the company, valued at approximately $2,068,087.63. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.98% of the stock is owned by corporate insiders.

Global Payments Price Performance

NYSE GPN opened at $103.37 on Thursday. 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 Inc. has a 12-month low of $91.60 and a 12-month high of $141.77. The company has a market capitalization of $26.39 billion, a PE ratio of 20.51, a price-to-earnings-growth ratio of 0.74 and a beta of 0.98. The firm’s 50 day moving average is $104.84 and its 200-day moving average is $104.37.

Global Payments (NYSE:GPN) last posted its quarterly earnings data on Wednesday, August 7th. The business services provider reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.90 by $0.03. Global Payments had a net margin of 14.26% and a return on equity of 11.93%. The company had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same period last year, the company earned $2.48 earnings per share. The firm’s revenue was up 4.7% compared to the same quarter last year. Equities research analysts anticipate that Global Payments Inc. will post 11.06 earnings per share for the current fiscal year.

Global Payments Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.97%. Global Payments’s dividend payout ratio (DPR) 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.