Public Sector Pension investment Board decreased its stake in shares of Global Payments Inc. (NYSE:GPN) by 50.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,200 shares of the business services provider’s stock after selling 17,200 shares during the quarter. Public Sector Pension investment Board’s holdings in Global Payments were worth $1,554,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Thompson Davis & CO. Inc. boosted its stake in shares of Global Payments by 0.8% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 1,197 shares of the business services provider’s stock worth $108,000 after acquiring an additional 10 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Global Payments by 0.3% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 11,329 shares of the business services provider’s stock worth $1,023,000 after acquiring an additional 34 shares during the period. Xact Kapitalforvaltning AB boosted its stake in shares of Global Payments by 0.3% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 11,990 shares of the business services provider’s stock worth $1,083,000 after acquiring an additional 41 shares during the period. First Personal Financial Services boosted its stake in shares of Global Payments by 1.7% during the 2nd quarter. First Personal Financial Services now owns 2,875 shares of the business services provider’s stock worth $260,000 after acquiring an additional 47 shares during the period. Finally, Keybank National Association OH boosted its stake in shares of Global Payments by 1.5% during the 2nd quarter. Keybank National Association OH now owns 3,792 shares of the business services provider’s stock worth $342,000 after acquiring an additional 56 shares during the period. Institutional investors own 97.84% of the company’s stock.

GPN has been the subject of several research analyst reports. Barclays PLC lifted their target price on Global Payments from $98.00 to $105.00 and gave the stock an “overweight” rating in a research note on Friday, August 4th. Credit Suisse Group reiterated an “outperform” rating and set a $97.00 target price (up from $91.00) on shares of Global Payments in a research note on Thursday, July 13th. Robert W. Baird reiterated a “buy” rating and set a $106.00 target price on shares of Global Payments in a research note on Tuesday, September 5th. William Blair reiterated an “outperform” rating on shares of Global Payments in a research note on Monday, July 24th. Finally, J P Morgan Chase & Co lifted their target price on Global Payments from $106.00 to $107.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 12th. One analyst has rated the stock with a sell rating, four have given a hold rating and twenty have given a buy rating to the company. Global Payments has a consensus rating of “Buy” and a consensus price target of $98.26.

Shares of Global Payments Inc. (NYSE:GPN) opened at 94.48 on Thursday. The stock’s 50 day moving average price is $95.36 and its 200-day moving average price is $88.50. Global Payments Inc. has a 52-week low of $64.63 and a 52-week high of $98.14. The company has a market capitalization of $14.41 billion, a P/E ratio of 73.30 and a beta of 1.11.

Global Payments (NYSE:GPN) last posted its quarterly earnings results on Thursday, August 3rd. The business services provider reported $0.94 EPS for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.07. Global Payments had a return on equity of 18.32% and a net margin of 6.65%. The firm had revenue of $847.90 million during the quarter, compared to analyst estimates of $837.76 million. During the same period last year, the company earned $0.76 earnings per share. The business’s revenue for the quarter was up 18.4% on a year-over-year basis. On average, equities analysts expect that Global Payments Inc. will post $3.95 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.04%. The ex-dividend date is Thursday, September 14th. Global Payments’s payout ratio is currently 2.45%.

In other news, Director Alan M. Silberstein sold 600 shares of the firm’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $97.70, for a total value of $58,620.00. Following the completion of the transaction, the director now directly owns 46,693 shares of the company’s stock, valued at $4,561,906.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert H. B. Baldwin, Jr. sold 8,200 shares of the firm’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $97.61, for a total value of $800,402.00. Following the completion of the transaction, the director now directly owns 172,497 shares of the company’s stock, valued at $16,837,432.17. The disclosure for this sale can be found here. Insiders sold 141,749 shares of company stock valued at $13,421,277 over the last ninety days. Corporate insiders own 0.93% of the company’s stock.

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Global Payments Company Profile

Global Payments Inc is a provider of payment technology services. The Company provides payment and digital commerce solutions. The Company operates through three segments: North America, Europe and Asia-Pacific. The Company’s segments primarily provide payment solutions for credit cards, debit cards, electronic payments and check-related services.

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Institutional Ownership by Quarter for Global Payments (NYSE:GPN)

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