Mn Services Vermogensbeheer B.V. Sells 2,500 Shares of Global Payments Inc. (NYSE:GPN)

Mn Services Vermogensbeheer B.V. lessened its stake in Global Payments Inc. (NYSE:GPN) by 2.4% during the third quarter, HoldingsChannel reports. The firm owned 99,800 shares of the business services provider’s stock after selling 2,500 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Global Payments were worth $10,222,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Cromwell Holdings LLC bought a new stake in shares of Global Payments in the 3rd quarter worth approximately $25,000. New Covenant Trust Company N.A. bought a new stake in Global Payments during the 1st quarter valued at $31,000. LRI Investments LLC bought a new stake in Global Payments during the 1st quarter valued at $32,000. POM Investment Strategies LLC bought a new stake in Global Payments during the 2nd quarter valued at $32,000. Finally, Whittier Trust Co. of Nevada Inc. raised its holdings in Global Payments by 59.6% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 383 shares of the business services provider’s stock valued at $39,000 after acquiring an additional 143 shares during the period. Institutional investors own 89.76% of the company’s stock.

Insider Activity at Global Payments

In other Global Payments 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 value of $166,305.23. Following the transaction, the chief accounting officer now directly owns 20,531 shares in the company, valued at $2,068,087.63. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.98% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on GPN shares. Susquehanna restated a “positive” rating and set a $147.00 price target on shares of Global Payments in a research report on Tuesday, September 17th. TD Cowen cut their target price on shares of Global Payments from $125.00 to $122.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. BNP Paribas upgraded shares of Global Payments to a “strong sell” rating in a research report on Wednesday, September 4th. Oppenheimer began coverage on shares of Global Payments in a research report on Tuesday, October 1st. They issued a “market perform” rating for the company. Finally, Sanford C. Bernstein cut Global Payments from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $135.00 to $112.00 in a research note on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Global Payments has a consensus rating of “Moderate Buy” and an average price target of $136.50.

Global Payments Stock Up 2.1 %

Shares of NYSE GPN opened at $107.37 on Wednesday. The stock has a market capitalization of $27.33 billion, a price-to-earnings ratio of 20.22, a P/E/G ratio of 0.80 and a beta of 0.97. Global Payments Inc. has a 12-month low of $91.60 and a 12-month high of $141.77. The firm’s 50-day moving average price is $104.45 and its 200-day moving average price is $103.75. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65.

Global Payments (NYSE:GPN) last issued its quarterly earnings results on Wednesday, August 7th. The business services provider reported $2.93 EPS for the quarter, beating the consensus estimate of $2.90 by $0.03. The company had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.32 billion. Global Payments had a net margin of 13.61% and a return on equity of 11.94%. The firm’s revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.48 EPS. On average, equities research analysts anticipate that Global Payments Inc. will post 11.05 EPS for the current fiscal year.

Global Payments Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, December 13th. This represents a $1.00 annualized dividend and a yield of 0.93%. Global Payments’s payout ratio is 18.83%.

About Global Payments

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.