Global Payments Inc. (NYSE:GPN) Shares Sold by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale decreased its stake in shares of Global Payments Inc. (NYSE:GPN) by 8.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 61,907 shares of the business services provider’s stock after selling 6,024 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Global Payments were worth $5,862,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Assenagon Asset Management S.A. boosted its holdings in shares of Global Payments by 1.9% in the first quarter. Assenagon Asset Management S.A. now owns 4,752 shares of the business services provider’s stock valued at $635,000 after acquiring an additional 90 shares in the last quarter. Fidelis Capital Partners LLC boosted its stake in Global Payments by 5.1% during the 1st quarter. Fidelis Capital Partners LLC now owns 1,930 shares of the business services provider’s stock valued at $258,000 after purchasing an additional 93 shares in the last quarter. CENTRAL TRUST Co increased its position in shares of Global Payments by 30.9% during the 1st 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. Oliver Luxxe Assets LLC raised its stake in shares of Global Payments by 0.3% in the 1st quarter. Oliver Luxxe Assets LLC now owns 34,435 shares of the business services provider’s stock worth $4,603,000 after buying an additional 108 shares in the last quarter. Finally, West Paces Advisors Inc. lifted its holdings in shares of Global Payments by 54.5% in the first quarter. West Paces Advisors Inc. now owns 309 shares of the business services provider’s stock valued at $41,000 after buying an additional 109 shares during the period. 89.76% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CAO David M. Sheffield sold 1,651 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $100.73, for a total transaction of $166,305.23. Following the transaction, the chief accounting officer now owns 20,531 shares in the company, valued at approximately $2,068,087.63. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.98% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on GPN shares. Evercore ISI lowered their target price on Global Payments from $170.00 to $160.00 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. JPMorgan Chase & Co. increased their target price on shares of Global Payments from $111.00 to $118.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Stephens decreased their price target on shares of Global Payments from $145.00 to $130.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Royal Bank of Canada cut their price objective on Global Payments from $172.00 to $158.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Finally, Wells Fargo & Company assumed coverage on Global Payments in a report on Wednesday, June 12th. They issued an “equal weight” rating and a $100.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $140.96.

Global Payments Trading Up 0.9 %

Shares of NYSE:GPN opened at $112.07 on Wednesday. Global Payments Inc. has a 12-month low of $91.60 and a 12-month high of $141.77. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $28.61 billion, a P/E ratio of 22.24, a price-to-earnings-growth ratio of 0.70 and a beta of 0.98. The firm has a fifty day moving average of $104.60 and a two-hundred day moving average of $110.36.

Global Payments (NYSE:GPN) last issued its earnings results on Wednesday, August 7th. The business services provider reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.90 by $0.03. The firm had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.32 billion. Global Payments had a return on equity of 11.93% and a net margin of 14.26%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.48 earnings per share. On average, equities analysts expect that Global Payments Inc. will post 11.07 EPS for the current fiscal year.

Global Payments Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date is Friday, September 13th. Global Payments’s dividend payout ratio (DPR) is presently 19.84%.

Global Payments 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.