Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp lessened its holdings in Global Payments Inc (NYSE:GPN) by 12.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 59,510 shares of the business services provider’s stock after selling 8,443 shares during the quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp’s holdings in Global Payments were worth $6,637,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Point72 Asia Hong Kong Ltd increased its holdings in Global Payments by 8,133.3% in the 1st quarter. Point72 Asia Hong Kong Ltd now owns 1,235 shares of the business services provider’s stock valued at $138,000 after buying an additional 1,220 shares during the period. SWS Partners bought a new stake in Global Payments in the 4th quarter valued at $163,000. Tower Research Capital LLC TRC increased its holdings in Global Payments by 2,412.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,658 shares of the business services provider’s stock valued at $166,000 after buying an additional 1,592 shares during the period. Quantitative Systematic Strategies LLC bought a new stake in Global Payments in the 1st quarter valued at $202,000. Finally, TLP Group LLC increased its holdings in Global Payments by 3,067.2% in the 1st quarter. TLP Group LLC now owns 1,932 shares of the business services provider’s stock valued at $215,000 after buying an additional 1,871 shares during the period. 96.26% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:GPN opened at $114.40 on Friday. Global Payments Inc has a 12 month low of $87.86 and a 12 month high of $119.69. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a market cap of $18.30 billion, a price-to-earnings ratio of 27.57, a P/E/G ratio of 1.37 and a beta of 1.11.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 15th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date is Thursday, June 14th. Global Payments’s dividend payout ratio is currently 2.99%.
In other Global Payments news, Director William I. Jacobs sold 10,181 shares of the company’s stock in a transaction dated Thursday, June 14th. The shares were sold at an average price of $119.06, for a total transaction of $1,212,149.86. Following the transaction, the director now directly owns 37,000 shares in the company, valued at approximately $4,405,220. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Alan M. Silberstein sold 600 shares of the company’s stock in a transaction dated Wednesday, April 18th. The shares were sold at an average price of $112.10, for a total transaction of $67,260.00. Following the transaction, the director now owns 45,297 shares in the company, valued at $5,077,793.70. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,629 shares of company stock worth $3,230,896. Insiders own 0.98% of the company’s stock.
Several brokerages have issued reports on GPN. Zacks Investment Research lowered shares of Global Payments from a “buy” rating to a “hold” rating in a report on Tuesday, April 17th. Goldman Sachs Group lowered shares of Global Payments from a “buy” rating to a “neutral” rating and set a $88.00 price target on the stock. in a report on Monday, June 18th. Cowen reissued a “buy” rating and issued a $127.00 price target on shares of Global Payments in a report on Thursday, March 1st. Raymond James began coverage on shares of Global Payments in a report on Friday, June 15th. They issued a “market perform” rating on the stock. Finally, ValuEngine raised shares of Global Payments from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have given a buy rating to the stock. Global Payments has a consensus rating of “Buy” and a consensus target price of $111.44.
About Global Payments
Global Payments Inc provides payment technology and software solutions for credit cards, debit cards, electronic payments, and check-related services. It offers authorization services, settlement and funding services, customer support and help-desk functions, chargeback resolution, terminal rental, sales and deployment, payment security services, consolidated billing and statements, online reporting, industry compliance, and payment card industry security services.
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