Sumitomo Mitsui Trust Holdings Inc. Sells 43,700 Shares of Global Payments Inc. (NYSE:GPN)

Sumitomo Mitsui Trust Holdings Inc. decreased its holdings in Global Payments Inc. (NYSE:GPN) by 6.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 626,410 shares of the business services provider’s stock after selling 43,700 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Global Payments were worth $60,574,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of Global Payments by 70.4% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 564 shares of the business services provider’s stock worth $72,000 after purchasing an additional 233 shares during the period. Lake Street Advisors Group LLC acquired a new stake in shares of Global Payments in the 4th quarter valued at $210,000. McKinley Carter Wealth Services Inc. boosted its holdings in shares of Global Payments by 35.4% in the 4th quarter. McKinley Carter Wealth Services Inc. now owns 46,953 shares of the business services provider’s stock valued at $5,963,000 after purchasing an additional 12,273 shares in the last quarter. Cibc World Markets Corp boosted its holdings in shares of Global Payments by 29.1% in the 4th quarter. Cibc World Markets Corp now owns 82,672 shares of the business services provider’s stock valued at $10,499,000 after purchasing an additional 18,615 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Global Payments by 6.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 255,468 shares of the business services provider’s stock valued at $32,064,000 after purchasing an additional 15,655 shares in the last quarter. Institutional investors own 89.76% of the company’s stock.

Insider Activity at Global Payments

In related news, CAO David M. Sheffield sold 1,651 shares of the business’s stock in a transaction dated 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 sale, the chief accounting officer now directly 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 accessible through this link. 0.98% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

GPN has been the topic of a number of research analyst reports. Morgan Stanley raised their target price on Global Payments from $160.00 to $164.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Citigroup reduced their target price on Global Payments from $163.00 to $155.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. BMO Capital Markets raised their target price on Global Payments from $124.00 to $126.00 and gave the company a “market perform” rating in a report on Thursday, August 8th. Monness Crespi & Hardt cut their price objective on Global Payments from $175.00 to $165.00 and set a “buy” rating on the stock in a report on Friday, May 3rd. Finally, StockNews.com downgraded Global Payments from a “buy” rating to a “hold” rating in a report on Monday, June 10th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $141.20.

Global Payments Trading Up 0.0 %

Shares of GPN stock traded up $0.05 during mid-day trading on Friday, hitting $108.83. The company’s stock had a trading volume of 2,093,390 shares, compared to its average volume of 2,310,126. The company’s fifty day simple moving average is $98.20 and its 200-day simple moving average is $114.30. Global Payments Inc. has a 52 week low of $91.60 and a 52 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 company has a market cap of $27.78 billion, a PE ratio of 21.59, a P/E/G ratio of 0.63 and a beta of 0.98.

Global Payments (NYSE:GPN) last posted its quarterly earnings data on Wednesday, August 7th. The business services provider reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.90 by $0.03. Global Payments had a return on equity of 11.72% and a net margin of 13.40%. The firm had revenue of $2.57 billion during the quarter, compared to analyst estimates of $2.32 billion. During the same period last year, the company posted $2.48 EPS. The business’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, equities research analysts expect that Global Payments Inc. will post 11.09 earnings per share for the current fiscal year.

Global Payments Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend is Friday, September 13th. Global Payments’s payout ratio is 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.