Global Payments Inc. (NYSE:GPN) Shares Purchased by Opal Wealth Advisors LLC

Opal Wealth Advisors LLC increased its position in shares of Global Payments Inc. (NYSE:GPN) by 14.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,367 shares of the business services provider’s stock after purchasing an additional 303 shares during the period. Opal Wealth Advisors LLC’s holdings in Global Payments were worth $242,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GPN. New Covenant Trust Company N.A. acquired a new stake in Global Payments during the first quarter worth about $31,000. LRI Investments LLC acquired a new stake in shares of Global Payments during the first quarter valued at about $32,000. POM Investment Strategies LLC acquired a new stake in shares of Global Payments during the second quarter valued at about $32,000. West Paces Advisors Inc. increased its position in shares of Global Payments by 54.5% during the first quarter. West Paces Advisors Inc. now owns 309 shares of the business services provider’s stock valued at $41,000 after acquiring an additional 109 shares during the last quarter. Finally, North Star Investment Management Corp. increased its position in shares of Global Payments by 154.7% during the first quarter. North Star Investment Management Corp. now owns 354 shares of the business services provider’s stock valued at $47,000 after acquiring an additional 215 shares during the last quarter. 89.76% of the stock is currently owned by institutional investors and hedge funds.

Global Payments Stock Down 1.1 %

Shares of NYSE:GPN opened at $101.74 on Thursday. The company has a market capitalization of $25.97 billion, a PE ratio of 20.19, a P/E/G ratio of 0.74 and a beta of 0.98. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.68. Global Payments Inc. has a twelve month low of $91.60 and a twelve month high of $141.77. The firm has a 50 day simple moving average of $105.94 and a 200-day simple moving average of $106.20.

Global Payments (NYSE:GPN) last announced its earnings results on Wednesday, August 7th. The business services provider reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.90 by $0.03. The business had revenue of $2.57 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the previous year, the company posted $2.48 EPS. On average, equities analysts predict that Global Payments Inc. will post 11.07 EPS for the current fiscal year.

Global Payments Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.98%. Global Payments’s payout ratio is 19.84%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Evercore ISI dropped their price target on shares of Global Payments from $170.00 to $160.00 and set an “outperform” rating for the company in a research report on Tuesday, June 25th. KeyCorp dropped their price target on shares of Global Payments from $145.00 to $135.00 and set an “overweight” rating for the company in a research report on Wednesday, September 25th. StockNews.com cut shares of Global Payments from a “buy” rating to a “hold” rating in a research report on Thursday, September 26th. BTIG Research lowered shares of Global Payments from a “buy” rating to a “neutral” rating in a research note on Wednesday, September 25th. Finally, Seaport Res Ptn lowered shares of Global Payments from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, Global Payments currently has a consensus rating of “Moderate Buy” and a consensus price target of $138.70.

Insider Activity

In other news, CAO David M. Sheffield sold 1,651 shares of Global Payments stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $100.73, for a total value of $166,305.23. Following the transaction, the chief accounting officer now directly owns 20,531 shares of the company’s stock, valued at $2,068,087.63. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.98% of the company’s stock.

Global Payments 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.