Power Wealth Management LLC Takes $668,000 Position in Global Payments Inc. (NYSE:GPN)

Power Wealth Management LLC purchased a new position in Global Payments Inc. (NYSE:GPN) in the 4th quarter, Holdings Channel.com reports. The firm purchased 5,263 shares of the business services provider’s stock, valued at approximately $668,000.

Other hedge funds also recently modified their holdings of the company. Coldstream Capital Management Inc. boosted its stake in Global Payments by 3.8% in the 3rd quarter. Coldstream Capital Management Inc. now owns 2,485 shares of the business services provider’s stock valued at $287,000 after purchasing an additional 91 shares during the period. Fulton Bank N.A. boosted its holdings in Global Payments by 1.7% in the fourth quarter. Fulton Bank N.A. now owns 5,409 shares of the business services provider’s stock worth $687,000 after acquiring an additional 93 shares in the last quarter. Stratos Wealth Partners LTD. lifted its stake in Global Payments by 2.0% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 4,707 shares of the business services provider’s stock valued at $543,000 after acquiring an additional 94 shares in the last quarter. Wedmont Private Capital lifted its stake in Global Payments by 0.7% during the 4th quarter. Wedmont Private Capital now owns 13,740 shares of the business services provider’s stock valued at $1,828,000 after acquiring an additional 98 shares in the last quarter. Finally, KB Financial Partners LLC raised its stake in shares of Global Payments by 2.9% during the 3rd quarter. KB Financial Partners LLC now owns 4,069 shares of the business services provider’s stock worth $470,000 after purchasing an additional 113 shares during the period. Institutional investors and hedge funds own 89.76% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GPN. Royal Bank of Canada upped their target price on Global Payments from $154.00 to $172.00 and gave the stock an “outperform” rating in a research note on Thursday, February 15th. TD Cowen dropped their price objective on Global Payments from $160.00 to $152.00 and set a “buy” rating on the stock in a research report on Thursday. Morgan Stanley lifted their price objective on Global Payments from $160.00 to $164.00 and gave the company an “overweight” rating in a research report on Thursday. UBS Group lifted their target price on Global Payments from $130.00 to $145.00 and gave the company a “neutral” rating in a research note on Thursday, February 15th. Finally, Wedbush boosted their price objective on Global Payments from $130.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, January 10th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $150.00.

Global Payments Trading Up 0.8 %

NYSE GPN traded up $0.83 during trading hours on Friday, reaching $111.37. The company had a trading volume of 3,191,218 shares, compared to its average volume of 2,029,470. Global Payments Inc. has a 1-year low of $95.12 and a 1-year high of $141.77. The company has a current ratio of 0.92, a quick ratio of 0.99 and a debt-to-equity ratio of 0.68. The stock has a 50-day moving average of $127.50 and a 200 day moving average of $124.69. The stock has a market capitalization of $28.43 billion, a P/E ratio of 22.10, a price-to-earnings-growth ratio of 0.72 and a beta of 0.97.

Global Payments (NYSE:GPN) last issued its earnings results on Wednesday, February 14th. The business services provider reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.64 by $0.01. The business had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.18 billion. Global Payments had a net margin of 13.40% and a return on equity of 11.72%. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.30 earnings per share. As a group, research analysts anticipate that Global Payments Inc. will post 10.95 earnings per share for the current fiscal year.

Global Payments Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, June 14th. This represents a $1.00 annualized dividend and a yield of 0.90%. Global Payments’s dividend payout ratio (DPR) is 19.84%.

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.