Global Payments Inc. (NYSE:GPN) Shares Purchased by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. increased its holdings in Global Payments Inc. (NYSE:GPN) by 9.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,139 shares of the business services provider’s stock after purchasing an additional 782 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Global Payments were worth $1,222,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Global Payments during the 4th quarter worth approximately $30,000. LRI Investments LLC acquired a new position in Global Payments during the first quarter worth $32,000. West Paces Advisors Inc. lifted its holdings 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 purchasing an additional 109 shares in the last quarter. North Star Investment Management Corp. grew its position 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 purchasing an additional 215 shares during the period. Finally, CENTRAL TRUST Co grew its position in shares of Global Payments by 30.9% in the first quarter. CENTRAL TRUST Co now owns 453 shares of the business services provider’s stock valued at $61,000 after purchasing an additional 107 shares during the period. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Insiders Place Their Bets

In related news, VP Andrea M. Carter sold 3,300 shares of the business’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $111.34, for a total transaction of $367,422.00. Following the completion of the transaction, the vice president now directly owns 25,209 shares of the company’s stock, valued at approximately $2,806,770.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.98% of the stock is owned by company insiders.

Global Payments Stock Performance

Shares of Global Payments stock opened at $102.00 on Thursday. The stock has a market capitalization of $26.04 billion, a price-to-earnings ratio of 20.17, a price-to-earnings-growth ratio of 0.65 and a beta of 0.98. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.92 and a quick ratio of 0.92. The business has a 50-day moving average of $98.04 and a 200 day moving average of $116.84. 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 data on Wednesday, May 1st. The business services provider reported $2.48 EPS for the quarter, beating the consensus estimate of $2.41 by $0.07. Global Payments had a net margin of 13.40% and a return on equity of 11.72%. The business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.17 billion. As a group, sell-side analysts forecast that Global Payments Inc. will post 11.09 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on GPN. Barclays decreased their price target on shares of Global Payments from $160.00 to $145.00 and set an “overweight” rating on the stock in a research note on Thursday, May 2nd. BMO Capital Markets decreased their price objective on Global Payments from $143.00 to $128.00 and set a “market perform” rating on the stock in a report on Thursday, May 2nd. Morgan Stanley increased their target price on shares of Global Payments from $160.00 to $164.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Wells Fargo & Company began coverage on shares of Global Payments in a report on Wednesday, June 12th. They issued an “equal weight” rating and a $100.00 price objective for the company. Finally, Robert W. Baird lowered their target price on Global Payments from $182.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday, May 2nd. One 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.32.

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.