Mattson Financial Services LLC Sells 150 Shares of Global Payments Inc. (NYSE:GPN)

Mattson Financial Services LLC reduced its stake in shares of Global Payments Inc. (NYSE:GPN) by 0.8% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 19,028 shares of the business services provider’s stock after selling 150 shares during the period. Mattson Financial Services LLC’s holdings in Global Payments were worth $1,840,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Pzena Investment Management LLC increased its holdings in Global Payments by 194.2% during the 2nd quarter. Pzena Investment Management LLC now owns 6,423,463 shares of the business services provider’s stock worth $621,149,000 after purchasing an additional 4,240,388 shares in the last quarter. Boston Partners increased its holdings in Global Payments by 0.3% during the 1st quarter. Boston Partners now owns 4,797,677 shares of the business services provider’s stock worth $639,967,000 after purchasing an additional 12,196 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Global Payments by 10.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,957,914 shares of the business services provider’s stock worth $189,307,000 after purchasing an additional 193,137 shares in the last quarter. Glenview Capital Management LLC increased its holdings in Global Payments by 5.5% during the 4th quarter. Glenview Capital Management LLC now owns 1,948,128 shares of the business services provider’s stock worth $247,412,000 after purchasing an additional 100,993 shares in the last quarter. Finally, Davis Asset Management L.P. increased its holdings in Global Payments by 18.2% during the 2nd quarter. Davis Asset Management L.P. now owns 1,300,000 shares of the business services provider’s stock worth $125,710,000 after purchasing an additional 200,000 shares in the last quarter. 89.76% of the stock is owned by institutional investors.

Insider Activity

In other news, CAO David M. Sheffield sold 1,651 shares of the company’s stock in a transaction dated 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 transaction, the chief accounting officer now directly owns 20,531 shares of the company’s stock, valued at approximately $2,068,087.63. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.98% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. BTIG Research lowered Global Payments from a “buy” rating to a “neutral” rating in a report on Wednesday, September 25th. Monness Crespi & Hardt reduced their target price on Global Payments from $165.00 to $155.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Keefe, Bruyette & Woods reduced their target price on Global Payments from $150.00 to $140.00 and set an “outperform” rating for the company in a report on Monday, July 8th. Stephens reaffirmed an “overweight” rating and issued a $130.00 target price on shares of Global Payments in a report on Wednesday, September 18th. Finally, Evercore ISI reduced their target price on Global Payments from $170.00 to $160.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, Global Payments currently has a consensus rating of “Moderate Buy” and a consensus target price of $139.55.

Global Payments Stock Performance

Global Payments stock opened at $98.82 on Wednesday. Global Payments Inc. has a fifty-two week low of $91.60 and a fifty-two week high of $141.77. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a market cap of $25.22 billion, a P/E ratio of 19.61, a price-to-earnings-growth ratio of 0.71 and a beta of 0.98. The firm’s fifty day moving average price is $105.46 and its 200-day moving average price is $107.60.

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

Global Payments Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend was Friday, September 13th. Global Payments’s dividend payout ratio 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.