Vanguard Personalized Indexing Management LLC Sells 887 Shares of Global Payments Inc. $GPN

Vanguard Personalized Indexing Management LLC trimmed its holdings in Global Payments Inc. (NYSE:GPN) by 5.7% in the second quarter, HoldingsChannel reports. The fund owned 14,731 shares of the business services provider’s stock after selling 887 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Global Payments were worth $1,180,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in GPN. Nuveen LLC purchased a new stake in Global Payments during the first quarter valued at about $94,107,000. Amundi boosted its holdings in Global Payments by 77.5% during the 1st quarter. Amundi now owns 2,001,585 shares of the business services provider’s stock valued at $186,107,000 after acquiring an additional 874,175 shares during the period. National Bank of Canada FI grew its position in Global Payments by 346.9% during the 1st quarter. National Bank of Canada FI now owns 912,667 shares of the business services provider’s stock worth $89,368,000 after acquiring an additional 708,451 shares during the last quarter. Strs Ohio purchased a new position in Global Payments in the 1st quarter worth approximately $66,441,000. Finally, Focused Investors LLC lifted its position in Global Payments by 33.9% in the second quarter. Focused Investors LLC now owns 1,167,900 shares of the business services provider’s stock valued at $93,479,000 after purchasing an additional 295,600 shares during the last quarter. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Insider Buying and Selling

In other Global Payments news, General Counsel Dara L. Steele-Belkin sold 2,000 shares of the firm’s stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $86.00, for a total transaction of $172,000.00. Following the completion of the transaction, the general counsel owned 30,713 shares of the company’s stock, valued at approximately $2,641,318. This trade represents a 6.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.01% of the company’s stock.

Wall Street Analysts Forecast Growth

GPN has been the topic of several analyst reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Global Payments in a research note on Wednesday, October 8th. Truist Financial boosted their price objective on shares of Global Payments from $79.00 to $83.00 and gave the company a “hold” rating in a research report on Thursday, July 17th. Royal Bank Of Canada increased their target price on shares of Global Payments from $86.00 to $93.00 and gave the stock a “sector perform” rating in a report on Thursday, August 7th. KeyCorp restated an “overweight” rating and set a $100.00 price target (up previously from $90.00) on shares of Global Payments in a report on Thursday, August 7th. Finally, TD Cowen lowered Global Payments from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 21st. Eight analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $103.75.

Global Payments Price Performance

GPN stock opened at $85.40 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. Global Payments Inc. has a 1 year low of $65.93 and a 1 year high of $120.00. The firm has a 50-day moving average of $86.30 and a 200 day moving average of $81.79. The company has a market cap of $20.72 billion, a P/E ratio of 14.93, a PEG ratio of 0.82 and a beta of 0.98.

Global Payments (NYSE:GPN) last posted its earnings results on Wednesday, August 6th. The business services provider reported $3.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.06 by $0.04. Global Payments had a return on equity of 12.47% and a net margin of 15.07%.The firm had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter in the prior year, the business earned $2.93 EPS. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. On average, sell-side analysts forecast that Global Payments Inc. will post 11.89 EPS for the current year.

Global Payments Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were issued a $0.25 dividend. The ex-dividend date was Friday, September 12th. This represents a $1.00 dividend on an annualized basis and a yield of 1.2%. Global Payments’s dividend payout ratio is 17.48%.

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.