Global Payments Inc. $GPN Shares Sold by TD Asset Management Inc

TD Asset Management Inc decreased its position in shares of Global Payments Inc. (NYSE:GPN) by 6.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 116,262 shares of the business services provider’s stock after selling 7,378 shares during the quarter. TD Asset Management Inc’s holdings in Global Payments were worth $9,306,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in GPN. Sequoia Financial Advisors LLC lifted its position in shares of Global Payments by 9.3% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 84,190 shares of the business services provider’s stock valued at $6,739,000 after buying an additional 7,161 shares in the last quarter. Yousif Capital Management LLC lifted its position in shares of Global Payments by 0.5% during the 2nd quarter. Yousif Capital Management LLC now owns 33,587 shares of the business services provider’s stock valued at $2,688,000 after buying an additional 181 shares in the last quarter. Pzena Investment Management LLC lifted its position in shares of Global Payments by 32.6% during the 2nd quarter. Pzena Investment Management LLC now owns 11,050,253 shares of the business services provider’s stock valued at $884,462,000 after buying an additional 2,716,156 shares in the last quarter. Welch Group LLC lifted its position in shares of Global Payments by 15.4% during the 2nd quarter. Welch Group LLC now owns 5,835 shares of the business services provider’s stock valued at $467,000 after buying an additional 777 shares in the last quarter. Finally, Leith Wheeler Investment Counsel Ltd. lifted its position in shares of Global Payments by 51.9% during the 2nd quarter. Leith Wheeler Investment Counsel Ltd. now owns 556,578 shares of the business services provider’s stock valued at $44,549,000 after buying an additional 190,189 shares in the last quarter. Institutional investors and hedge funds own 89.76% of the company’s stock.

Global Payments Stock Up 2.1%

Shares of GPN opened at $85.40 on Monday. Global Payments Inc. has a 52-week low of $65.93 and a 52-week high of $120.00. The company has a market capitalization of $20.72 billion, a PE ratio of 14.93, a price-to-earnings-growth ratio of 0.82 and a beta of 0.98. The stock has a fifty day simple moving average of $86.30 and a two-hundred day simple moving average of $81.71. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61.

Global Payments (NYSE:GPN) last issued its earnings results on Wednesday, August 6th. The business services provider reported $3.10 earnings per share (EPS) 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 business had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same period last year, the company earned $2.93 EPS. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. As a group, equities analysts forecast that Global Payments Inc. will post 11.89 EPS for the current year.

Global Payments Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, September 12th. Global Payments’s dividend payout ratio (DPR) is presently 17.48%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GPN. JPMorgan Chase & Co. increased their target price on Global Payments from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Thursday, August 7th. TD Cowen lowered Global Payments from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 21st. KeyCorp reiterated an “overweight” rating and set a $100.00 target price (up previously from $90.00) on shares of Global Payments in a research report on Thursday, August 7th. Evercore ISI increased their target price on Global Payments from $85.00 to $90.00 and gave the company an “in-line” rating in a research report on Friday, August 8th. Finally, Keefe, Bruyette & Woods raised their price objective on Global Payments from $81.00 to $85.00 and gave the company a “market perform” rating in a report on Wednesday, July 9th. Eight investment analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $103.75.

Insider Activity

In related news, General Counsel Dara L. Steele-Belkin sold 2,000 shares of the firm’s stock in a transaction dated 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 sale, the general counsel directly owned 30,713 shares of the company’s stock, valued at approximately $2,641,318. This trade represents a 6.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.01% of the company’s stock.

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.