Moors & Cabot Inc. Sells 197 Shares of Global Payments Inc. (NYSE:GPN)

Moors & Cabot Inc. lessened its holdings in shares of Global Payments Inc. (NYSE:GPN) by 1.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 11,516 shares of the business services provider’s stock after selling 197 shares during the period. Moors & Cabot Inc.’s holdings in Global Payments were worth $1,114,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Janney Montgomery Scott LLC lifted its stake in shares of Global Payments by 67.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 25,716 shares of the business services provider’s stock valued at $3,266,000 after acquiring an additional 10,330 shares during the period. Robeco Institutional Asset Management B.V. lifted its stake in shares of Global Payments by 26.7% during 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. Dynamic Technology Lab Private Ltd acquired a new position in shares of Global Payments during the fourth quarter valued at $587,000. Gladstone Institutional Advisory LLC lifted its stake in shares of Global Payments by 9.9% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 2,060 shares of the business services provider’s stock valued at $262,000 after acquiring an additional 186 shares during the period. Finally, Coldstream Capital Management Inc. lifted its stake in shares of Global Payments by 6.9% during the fourth quarter. Coldstream Capital Management Inc. now owns 2,656 shares of the business services provider’s stock valued at $337,000 after acquiring an additional 171 shares during the period. Institutional investors own 89.76% of the company’s stock.

Global Payments Stock Down 0.7 %

NYSE:GPN opened at $111.26 on Thursday. 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 company has a market cap of $28.40 billion, a PE ratio of 22.08, a PEG ratio of 0.70 and a beta of 0.98. Global Payments Inc. has a 52-week low of $91.60 and a 52-week high of $141.77. The stock has a 50-day simple moving average of $104.93 and a 200 day simple moving average of $110.37.

Global Payments (NYSE:GPN) last posted its quarterly earnings data on Wednesday, August 7th. The business services provider reported $2.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.90 by $0.03. The business had revenue of $2.57 billion during 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%. Global Payments’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the company earned $2.48 earnings per share. On average, sell-side analysts expect that Global Payments Inc. will post 11.07 EPS for the current fiscal year.

Global Payments Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued 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 payout ratio is presently 19.84%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. BMO Capital Markets increased their target price on Global Payments from $124.00 to $126.00 and gave the company a “market perform” rating in a research note on Thursday, August 8th. Royal Bank of Canada cut their target price on Global Payments from $172.00 to $158.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Susquehanna reissued a “positive” rating and issued a $147.00 target price on shares of Global Payments in a research note on Tuesday. Evercore ISI cut their target price on Global Payments from $170.00 to $160.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. Finally, TD Cowen cut their target price on Global Payments from $152.00 to $125.00 and set a “buy” rating on the stock in a research note on Friday, June 21st. One investment analyst has rated the stock with a sell rating, five have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Global Payments presently has a consensus rating of “Moderate Buy” and an average target price of $142.59.

Insider Buying and Selling at Global Payments

In other Global Payments news, CAO David M. Sheffield sold 1,651 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $100.73, for a total value of $166,305.23. Following the completion of the transaction, the chief accounting officer now directly owns 20,531 shares in the company, valued at $2,068,087.63. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.98% of the company’s stock.

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.