State of New Jersey Common Pension Fund D Has $6.58 Million Holdings in Global Payments Inc. $GPN

State of New Jersey Common Pension Fund D lowered its stake in Global Payments Inc. (NYSE:GPN) by 1.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 82,175 shares of the business services provider’s stock after selling 1,623 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Global Payments were worth $6,577,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of GPN. Brighton Jones LLC acquired a new stake in shares of Global Payments in the 4th quarter valued at $725,000. GAMMA Investing LLC raised its holdings in Global Payments by 76.0% during the 1st quarter. GAMMA Investing LLC now owns 3,728 shares of the business services provider’s stock worth $365,000 after purchasing an additional 1,610 shares during the last quarter. Golden State Wealth Management LLC raised its holdings in Global Payments by 4,866.7% during the 1st quarter. Golden State Wealth Management LLC now owns 447 shares of the business services provider’s stock worth $44,000 after purchasing an additional 438 shares during the last quarter. Perigon Wealth Management LLC raised its stake in shares of Global Payments by 3.8% during the first quarter. Perigon Wealth Management LLC now owns 3,932 shares of the business services provider’s stock worth $385,000 after buying an additional 144 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its stake in shares of Global Payments by 216.7% during the first quarter. Robeco Institutional Asset Management B.V. now owns 29,724 shares of the business services provider’s stock worth $2,911,000 after buying an additional 20,338 shares during the last quarter. Institutional investors and hedge funds own 89.76% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the stock. B. Riley reiterated a “buy” rating on shares of Global Payments in a research report on Wednesday, July 16th. Evercore ISI upped their price objective on Global Payments from $85.00 to $90.00 and gave the company an “in-line” rating in a report on Friday, August 8th. Citigroup upgraded Global Payments to a “strong-buy” rating in a report on Thursday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Global Payments in a research note on Saturday. Finally, Royal Bank Of Canada upped their price target on Global Payments from $86.00 to $93.00 and gave the company a “sector perform” rating in a research note on Thursday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and fourteen have issued a Hold rating to the company. According to MarketBeat, Global Payments presently has an average rating of “Hold” and an average target price of $103.37.

Insider Activity

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

Global Payments Stock Down 0.1%

Shares of GPN stock opened at $87.42 on Monday. The firm has a fifty day moving average of $86.53 and a 200-day moving average of $81.85. 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 Inc. has a 12-month low of $65.93 and a 12-month high of $120.00. The company has a market capitalization of $21.21 billion, a price-to-earnings ratio of 15.28, a P/E/G ratio of 0.83 and a beta of 0.98.

Global Payments (NYSE:GPN) last issued its quarterly earnings data on Wednesday, August 6th. The business services provider reported $3.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.06 by $0.04. The company had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.36 billion. Global Payments had a net margin of 15.07% and a return on equity of 12.47%. The firm’s revenue was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.93 earnings per share. As a group, equities research analysts predict that Global Payments Inc. will post 11.89 earnings per share for the current fiscal year.

Global Payments Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, September 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.1%. Global Payments’s dividend payout ratio (DPR) is presently 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.