Aurora Investment Counsel Purchases 224 Shares of Global Payments Inc. (NYSE:GPN)

Aurora Investment Counsel increased its position in shares of Global Payments Inc. (NYSE:GPNGet Rating) by 3.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,750 shares of the business services provider’s stock after purchasing an additional 224 shares during the quarter. Aurora Investment Counsel’s holdings in Global Payments were worth $857,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quent Capital LLC lifted its position in Global Payments by 44.5% during the first quarter. Quent Capital LLC now owns 1,201 shares of the business services provider’s stock worth $164,000 after purchasing an additional 370 shares during the period. Raymond James & Associates lifted its holdings in shares of Global Payments by 14.9% in the first quarter. Raymond James & Associates now owns 526,808 shares of the business services provider’s stock worth $72,090,000 after acquiring an additional 68,190 shares during the last quarter. Kentucky Retirement Systems lifted its holdings in shares of Global Payments by 0.8% in the first quarter. Kentucky Retirement Systems now owns 18,150 shares of the business services provider’s stock worth $2,484,000 after acquiring an additional 141 shares during the last quarter. Seven Eight Capital LP bought a new position in shares of Global Payments in the first quarter worth about $254,000. Finally, Forum Financial Management LP lifted its holdings in shares of Global Payments by 6.8% in the first quarter. Forum Financial Management LP now owns 3,416 shares of the business services provider’s stock worth $467,000 after acquiring an additional 217 shares during the last quarter. Institutional investors own 85.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Truist Financial increased their target price on shares of Global Payments from $130.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, November 1st. Susquehanna dropped their target price on shares of Global Payments from $240.00 to $210.00 and set a “positive” rating for the company in a report on Tuesday, November 1st. Keefe, Bruyette & Woods dropped their target price on shares of Global Payments from $155.00 to $150.00 in a report on Monday, October 10th. Raymond James dropped their target price on shares of Global Payments from $160.00 to $158.00 and set an “outperform” rating for the company in a report on Tuesday, November 1st. Finally, Stephens dropped their target price on shares of Global Payments from $155.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday, November 1st. Nine research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $158.63.

Global Payments Stock Up 1.0 %

Shares of GPN traded up $0.99 during trading hours on Thursday, reaching $100.17. The stock had a trading volume of 1,362,951 shares, compared to its average volume of 3,136,589. Global Payments Inc. has a 12 month low of $93.99 and a 12 month high of $153.76. The firm has a 50-day simple moving average of $110.44 and a 200 day simple moving average of $118.33. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $27.09 billion, a price-to-earnings ratio of 455.34, a P/E/G ratio of 0.71 and a beta of 1.03.

Global Payments (NYSE:GPNGet Rating) last issued its quarterly earnings data on Monday, October 31st. The business services provider reported $2.48 earnings per share for the quarter, meeting the consensus estimate of $2.48. Global Payments had a return on equity of 9.85% and a net margin of 0.79%. The business had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.04 billion. During the same period last year, the business earned $2.00 EPS. The business’s revenue was up 3.8% on a year-over-year basis. Equities research analysts predict that Global Payments Inc. will post 8.9 earnings per share for the current fiscal year.

Global Payments Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Friday, December 16th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend is Thursday, December 15th. Global Payments’s dividend payout ratio (DPR) is presently 454.57%.

Global Payments announced that its Board of Directors has initiated a share buyback plan on Monday, August 1st that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the business services provider to reacquire up to 4.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Insider Activity

In other Global Payments news, Director M Troy Woods bought 5,247 shares of the firm’s stock in a transaction dated Friday, November 4th. The stock was purchased at an average cost of $95.26 per share, with a total value of $499,829.22. Following the transaction, the director now directly owns 287,688 shares in the company, valued at approximately $27,405,158.88. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.19% of the company’s stock.

Global Payments Company Profile

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Global Payments Inc provides payment technology and software solutions for card, electronic, check, and digital-based payments in the Americas, Europe, and the Asia-Pacific. It operates through three segments: Merchant Solutions, Issuer Solutions, and Business and Consumer Solutions. The Merchant Solutions segment 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 on-line reporting services.

Further Reading

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

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