Global Payments Inc. (NYSE:GPN) Shares Acquired by Sound Income Strategies LLC

Sound Income Strategies LLC boosted its stake in Global Payments Inc. (NYSE:GPN) by 15.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 52,062 shares of the business services provider’s stock after purchasing an additional 7,076 shares during the quarter. Sound Income Strategies LLC’s holdings in Global Payments were worth $5,834,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cromwell Holdings LLC acquired a new stake in shares of Global Payments in the third quarter valued at about $25,000. Beaird Harris Wealth Management LLC purchased a new position in Global Payments in the 3rd quarter valued at about $25,000. Capital Performance Advisors LLP acquired a new stake in Global Payments in the 3rd quarter worth about $33,000. Whittier Trust Co. of Nevada Inc. increased its stake 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 buying an additional 143 shares in the last quarter. Finally, Quarry LP raised its holdings in shares of Global Payments by 134.4% during the second quarter. Quarry LP now owns 511 shares of the business services provider’s stock valued at $49,000 after acquiring an additional 293 shares during the last quarter. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Global Payments Price Performance

GPN stock opened at $107.76 on Friday. The business’s fifty day moving average price is $113.57 and its 200 day moving average price is $107.40. 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 $27.42 billion, a PE ratio of 20.29, a P/E/G ratio of 0.78 and a beta of 1.00. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65.

Global Payments Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.00 annualized dividend and a dividend yield of 0.93%. Global Payments’s dividend payout ratio is presently 18.83%.

Wall Street Analyst Weigh In

Several brokerages recently commented on GPN. Stephens cut Global Payments from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $125.00 to $120.00 in a research report on Friday, January 10th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $122.00 target price (down previously from $155.00) on shares of Global Payments in a report on Thursday, January 9th. Keefe, Bruyette & Woods raised their price target on shares of Global Payments from $130.00 to $140.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Barclays increased their price objective on shares of Global Payments from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Finally, Oppenheimer assumed coverage on Global Payments in a research report on Tuesday, October 1st. They issued a “market perform” rating for the company. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Global Payments presently has an average rating of “Hold” and a consensus target price of $135.71.

Insider Activity

In related news, Director Robert H. B. Baldwin, Jr. bought 5,800 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was purchased at an average cost of $116.00 per share, for a total transaction of $672,800.00. Following the completion of the acquisition, the director now owns 42,738 shares in the company, valued at approximately $4,957,608. This trade represents a 15.70 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 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.