Truvestments Capital LLC Buys 617 Shares of Global Payments Inc. (NYSE:GPN)

Truvestments Capital LLC lifted its holdings in Global Payments Inc. (NYSE:GPN) by 20.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,684 shares of the business services provider’s stock after buying an additional 617 shares during the period. Truvestments Capital LLC’s holdings in Global Payments were worth $492,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in GPN. Raymond James & Associates increased its holdings in shares of Global Payments by 3.7% in the 4th quarter. Raymond James & Associates now owns 364,909 shares of the business services provider’s stock worth $46,343,000 after buying an additional 12,980 shares during the last quarter. CVA Family Office LLC bought a new position in Global Payments during the 4th quarter valued at about $50,000. Raymond James Financial Services Advisors Inc. grew its holdings in Global Payments by 2.0% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 44,137 shares of the business services provider’s stock valued at $5,605,000 after purchasing an additional 863 shares during the last quarter. Tectonic Advisors LLC bought a new position in Global Payments during the 4th quarter valued at about $232,000. Finally, Planned Solutions Inc. bought a new position in Global Payments during the 4th quarter valued at about $65,000. 89.76% of the stock is currently owned by institutional investors.

Insider Transactions at Global Payments

In related news, VP Andrea M. Carter sold 3,300 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $111.34, for a total transaction of $367,422.00. Following the completion of the sale, the vice president now directly owns 25,209 shares in the company, valued at $2,806,770.06. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Citigroup cut their price target on shares of Global Payments from $163.00 to $155.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Morgan Stanley boosted their price objective on shares of Global Payments from $160.00 to $164.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. BMO Capital Markets cut their price target on shares of Global Payments from $143.00 to $128.00 and set a “market perform” rating on the stock in a research note on Thursday, May 2nd. KeyCorp cut their price target on shares of Global Payments from $155.00 to $145.00 and set an “overweight” rating on the stock in a research note on Thursday, May 2nd. Finally, Robert W. Baird cut their price objective on shares of Global Payments from $182.00 to $150.00 and set an “outperform” rating on the stock in a research note on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $145.32.

Global Payments Price Performance

Shares of NYSE:GPN traded up $2.45 during midday trading on Friday, hitting $101.19. The company’s stock had a trading volume of 1,778,747 shares, compared to its average volume of 1,989,694. The business’s 50 day simple moving average is $98.36 and its 200 day simple moving average is $117.47. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market cap of $25.83 billion, a P/E ratio of 20.08, a price-to-earnings-growth ratio of 0.63 and a beta of 0.98. Global Payments Inc. has a 12-month low of $91.60 and a 12-month high of $141.77.

Global Payments (NYSE:GPN) last posted its quarterly earnings results on Wednesday, May 1st. The business services provider reported $2.48 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.07. The firm had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.17 billion. Global Payments had a net margin of 13.40% and a return on equity of 11.72%. On average, analysts forecast that Global Payments Inc. will post 11.09 EPS for the current year.

Global Payments Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend was Friday, June 14th. Global Payments’s dividend payout ratio is currently 19.84%.

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.