Koa Wealth Management LLC Boosts Stock Position in Global Payments Inc. (NYSE:GPN)

Koa Wealth Management LLC grew its holdings in Global Payments Inc. (NYSE:GPN) by 165.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,185 shares of the business services provider’s stock after buying an additional 11,336 shares during the period. Global Payments makes up 1.5% of Koa Wealth Management LLC’s portfolio, making the stock its 22nd largest holding. Koa Wealth Management LLC’s holdings in Global Payments were worth $1,758,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in GPN. New Covenant Trust Company N.A. purchased a new stake in Global Payments during the 1st quarter valued at $31,000. LRI Investments LLC bought a new position in Global Payments during the first quarter valued at $32,000. West Paces Advisors Inc. increased its position in 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. North Star Investment Management Corp. raised its stake in shares of Global Payments by 154.7% in 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 period. Finally, CENTRAL TRUST Co lifted its holdings in shares of Global Payments by 30.9% in the 1st quarter. CENTRAL TRUST Co now owns 453 shares of the business services provider’s stock worth $61,000 after acquiring an additional 107 shares during the last quarter. 89.76% of the stock is currently owned by institutional investors.

Global Payments Stock Performance

Shares of NYSE:GPN traded down $0.12 on Thursday, hitting $109.23. 1,108,744 shares of the company were exchanged, compared to its average volume of 2,284,687. The firm has a market capitalization of $27.88 billion, a P/E ratio of 21.70, a price-to-earnings-growth ratio of 0.63 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 1-year low of $91.60 and a 1-year high of $141.77. The stock’s 50 day moving average price is $98.97 and its 200 day moving average price is $113.76.

Global Payments (NYSE:GPN) last announced its quarterly earnings data on Wednesday, August 7th. The business services provider reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.90 by $0.03. Global Payments had a return on equity of 11.72% and a net margin of 13.40%. The firm had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.32 billion. During the same period last year, the business posted $2.48 earnings per share. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. Sell-side analysts predict that Global Payments Inc. will post 11.09 EPS for the current year.

Global Payments Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Monness Crespi & Hardt reduced their price target on Global Payments from $175.00 to $165.00 and set a “buy” rating on the stock in a report on Friday, May 3rd. Wells Fargo & Company started coverage on Global Payments in a research note on Wednesday, June 12th. They issued an “equal weight” rating and a $100.00 target price on the stock. Stephens lowered their target price on shares of Global Payments from $145.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Morgan Stanley upped their price target on shares of Global Payments from $160.00 to $164.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Finally, Susquehanna decreased their price objective on shares of Global Payments from $157.00 to $147.00 and set a “positive” rating for the company in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Global Payments currently has an average rating of “Moderate Buy” and a consensus price target of $141.48.

Insider Transactions at Global Payments

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

About Global Payments

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.