Global Payments Inc. (NYSE:GPN) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC decreased its holdings in shares of Global Payments Inc. (NYSE:GPN) by 5.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 32,190 shares of the business services provider’s stock after selling 1,949 shares during the period. Mutual of America Capital Management LLC’s holdings in Global Payments were worth $3,113,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Robeco Institutional Asset Management B.V. lifted its holdings in Global Payments by 26.7% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 34,922 shares of the business services provider’s stock valued at $48,000 after acquiring an additional 7,369 shares during the period. Corient Private Wealth LLC boosted its holdings in Global Payments by 4.1% during the fourth quarter. Corient Private Wealth LLC now owns 22,795 shares of the business services provider’s stock worth $2,895,000 after buying an additional 904 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its position in Global Payments by 28.2% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 14,978 shares of the business services provider’s stock worth $1,902,000 after buying an additional 3,294 shares during the period. Commerce Bank increased its holdings in Global Payments by 10.6% in the fourth quarter. Commerce Bank now owns 13,893 shares of the business services provider’s stock valued at $1,764,000 after buying an additional 1,331 shares in the last quarter. Finally, Orion Portfolio Solutions LLC lifted its position in shares of Global Payments by 6.2% during the 4th quarter. Orion Portfolio Solutions LLC now owns 10,634 shares of the business services provider’s stock valued at $1,415,000 after acquiring an additional 621 shares during the period. 89.76% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Global Payments

In related news, CAO David M. Sheffield sold 1,651 shares of the firm’s 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 completion of the sale, the chief accounting officer now directly owns 20,531 shares of the company’s stock, valued at approximately $2,068,087.63. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.98% of the company’s stock.

Analysts Set New Price Targets

GPN has been the subject of several research analyst reports. Susquehanna reaffirmed a “positive” rating and issued a $147.00 price objective on shares of Global Payments in a research note on Tuesday, September 17th. BMO Capital Markets boosted their price objective on shares of Global Payments from $124.00 to $126.00 and gave the stock a “market perform” rating in a research report on Thursday, August 8th. Wells Fargo & Company began coverage on shares of Global Payments in a report on Wednesday, June 12th. They set an “equal weight” rating and a $100.00 target price for the company. Stephens reaffirmed an “overweight” rating and issued a $130.00 price target on shares of Global Payments in a report on Wednesday, September 18th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Global Payments from $111.00 to $118.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Global Payments presently has an average rating of “Moderate Buy” and an average price target of $142.59.

Global Payments Trading Up 0.3 %

NYSE GPN opened at $110.99 on Tuesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.92 and a current ratio of 0.92. Global Payments Inc. has a one year low of $91.60 and a one year high of $141.77. The company’s 50 day moving average price is $105.75 and its 200 day moving average price is $109.88. The firm has a market capitalization of $28.33 billion, a price-to-earnings ratio of 22.02, a PEG ratio of 0.70 and a beta of 0.98.

Global Payments (NYSE:GPN) last announced its quarterly earnings results on Wednesday, August 7th. The business services provider reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.90 by $0.03. The firm had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.32 billion. Global Payments had a net margin of 14.26% and a return on equity of 11.93%. The firm’s revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the company earned $2.48 EPS. On average, sell-side analysts predict that Global Payments Inc. will post 11.07 EPS for the current year.

Global Payments Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.90%. Global Payments’s dividend payout ratio is currently 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.