Park Place Capital Corp Reduces Position in Global Payments Inc. (NYSE:GPN)

Park Place Capital Corp decreased its holdings in Global Payments Inc. (NYSE:GPN) by 48.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 323 shares of the business services provider’s stock after selling 300 shares during the quarter. Park Place Capital Corp’s holdings in Global Payments were worth $43,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Talbot Financial LLC lifted its position in Global Payments by 7.5% during the first quarter. Talbot Financial LLC now owns 50,183 shares of the business services provider’s stock valued at $6,707,000 after buying an additional 3,494 shares during the period. Miracle Mile Advisors LLC purchased a new position in Global Payments during the first quarter valued at $203,000. Oliver Luxxe Assets LLC lifted its position in Global Payments by 0.3% during the first quarter. Oliver Luxxe Assets LLC now owns 34,435 shares of the business services provider’s stock valued at $4,603,000 after buying an additional 108 shares during the period. WoodTrust Financial Corp bought a new position in shares of Global Payments during the first quarter valued at $200,000. Finally, Hengehold Capital Management LLC bought a new position in shares of Global Payments during the first quarter valued at $243,000. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. StockNews.com downgraded Global Payments from a “buy” rating to a “hold” rating in a report on Monday, June 10th. KeyCorp reduced their price objective on Global Payments from $155.00 to $145.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. TD Cowen reduced their price objective on Global Payments from $152.00 to $125.00 and set a “buy” rating for the company in a report on Friday, June 21st. Morgan Stanley raised their target price on Global Payments from $160.00 to $164.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Finally, Susquehanna dropped their target price on Global Payments from $160.00 to $157.00 and set a “positive” rating on the stock in a research report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $145.68.

Global Payments Stock Performance

NYSE:GPN opened at $95.67 on Tuesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.92 and a quick ratio of 0.92. Global Payments Inc. has a 1 year low of $91.60 and a 1 year high of $141.77. The stock’s 50 day simple moving average is $105.12 and its two-hundred day simple moving average is $121.48. The company has a market cap of $24.42 billion, a price-to-earnings ratio of 18.98, a PEG ratio of 0.62 and a beta of 0.98.

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

Global Payments Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date was Friday, June 14th. Global Payments’s payout ratio is 19.84%.

Insiders Place Their Bets

In other Global Payments news, VP Andrea M. Carter sold 3,300 shares of Global Payments stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $111.34, for a total value of $367,422.00. Following the sale, the vice president now owns 25,209 shares of the company’s stock, valued at approximately $2,806,770.06. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.98% of the company’s stock.

Global Payments Company 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.