Global Payments Inc. (NYSE:GPN) Shares Sold by Texas Permanent School Fund Corp

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Texas Permanent School Fund Corp reduced its holdings in Global Payments Inc. (NYSE:GPN – Free Report) by 22.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,991 shares of the business services provider’s stock after selling 11,834 shares during the period. Texas Permanent School Fund Corp’s holdings in Global Payments were worth $4,061,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of GPN. New Covenant Trust Company NA acquired a new position in shares of Global Payments in the first quarter valued at approximately $31,000. LRI Investments LLC purchased a new position in Global Payments in the first quarter valued at approximately $32,000. POM Investment Strategies LLC purchased a new position in Global Payments in the second quarter valued at about $32,000. West Paces Advisors Inc. boosted its holdings in Global Payments by 54.5% in the first quarter. West Paces Advisors Inc. now owns 309 shares of the business services provider’s stock worth $41,000 after buying an additional 109 shares during the last quarter. Finally, North Star Investment Management Corp. lifted its position in shares of Global Payments by 154.7% in the first quarter. North Star Investment Management Corp. now owns 354 shares of the business services provider’s stock worth $47,000 after purchasing an additional 215 shares during the last quarter. 89.76% of shares are held by hedge funds and other institutional investors.

Insider buying and selling at Global Payments

In other news, CAO David M. Sheffield sold 1,651 shares of the business’s stock in a transaction that occurred 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 sale, the chief accounting officer now owns 20,531 shares of the company’s stock, valued at approximately $2,068,087.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available via this hyperlink. 0.98% of shares are currently held by corporate insiders.

Global payments stocks rose 1.2%

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Shares of Global Payments stock opened at $110.44 on Friday. The stock’s 50-day moving average price is $103.96 and its 200-day moving average price is $110.91. Global Payments Inc. has a 1 year low of $91.60 and a 1 year high of $141.77. The company has a market cap of $28.10 billion, a PE ratio of 21.91, a price-to-earnings-growth ratio of 0.70 and a beta of 0.98. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.92, and a quick ratio of 0.92.

Global Payments (NYSE:GPN – Get Your Free Report ) last posted its earnings results on Wednesday, August 7th. The business services provider reported $2.93 EPS for the quarter, topping the consensus estimate of $2.90 by $0.03. The company had revenue of $2.57 billion for 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 company’s revenue increased by 4.7% year-on-year. During the same period in the previous year, the firm earned $2.48 EPS. On average, sell-side analysts predict that Global Payments Inc. will post 11.07 EPS for the current fiscal year.

Global Payments Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, September 13. This represents a dividend of $1.00 on an annualized basis and a yield of 0.91%. Global Payments’ dividend payout ratio (DPR) is currently 19.84%.

Analyst upgrades and downgrades

A number of research analysts have recently commented on the stock. Keefe, Bruyette & Woods decreased their price target on shares of Global Payments from $150.00 to $140.00 and set an “outperform” rating on the stock in a research report on Monday, July 8th. Stephens cut their price target on Global Payments from $145.00 to $130.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Wells Fargo & Company initiated coverage on Global Payments in a report on Wednesday, June 12th. They issued an “equal weight” rating and a $100.00 price target for the company. BMO Capital Markets upped their target price on Global Payments from $124.00 to $126.00 and gave the stock a “market perform” rating in a research note on Thursday, August 8th. Finally, Evercore ISI cut their price objective on Global Payments from $170.00 to $160.00 and set an “outperform” rating for the company in a research note on Tuesday, June 25th . Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $140.96.

Read the latest stock report on GPN

Global payment profile

(Free Report)

Global Payments Inc provides payment technology and software solutions for card, check and digital payments in the Americas, Europe and Asia-Pacific. It operates through two segments, Merchant Solutions and Issuer Solutions. The Merchant Solutions segment offers authorization, settlement and financing, customer support, chargeback resolution, terminal rental, sales and implementation, payment security and consolidated billing and reporting services.