Global Payments Inc. $GPN Shares Sold by TD Asset Management Inc

TD Asset Management Inc reduced its position in Global Payments Inc. (NYSE:GPN) by 6.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 116,262 shares of the business services provider’s stock after selling 7,378 shares during the quarter. TD Asset Management Inc’s holdings in Global Payments were worth $9,306,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Larson Financial Group LLC grew its position in Global Payments by 546.6% in the 1st quarter. Larson Financial Group LLC now owns 375 shares of the business services provider’s stock valued at $37,000 after acquiring an additional 317 shares in the last quarter. Zions Bancorporation National Association UT acquired a new position in Global Payments in the 1st quarter valued at about $37,000. LRI Investments LLC grew its position in Global Payments by 53.4% in the 2nd quarter. LRI Investments LLC now owns 382 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 133 shares in the last quarter. Quarry LP acquired a new position in Global Payments in the 1st quarter valued at about $42,000. Finally, Golden State Wealth Management LLC grew its position in Global Payments by 4,866.7% in the 1st quarter. Golden State Wealth Management LLC now owns 447 shares of the business services provider’s stock valued at $44,000 after acquiring an additional 438 shares in the last quarter. 89.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on GPN. TD Cowen downgraded Global Payments from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 21st. KeyCorp reaffirmed an “overweight” rating and issued a $100.00 target price (up from $90.00) on shares of Global Payments in a research report on Thursday, August 7th. B. Riley reissued a “buy” rating on shares of Global Payments in a research report on Wednesday, July 16th. UBS Group boosted their price objective on Global Payments from $85.00 to $93.00 and gave the stock a “neutral” rating in a research report on Thursday, August 7th. Finally, JPMorgan Chase & Co. boosted their price objective on Global Payments from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Thursday, August 7th. Eight research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company’s stock. According to MarketBeat, Global Payments currently has an average rating of “Hold” and a consensus target price of $103.75.

Insiders Place Their Bets

In related news, General Counsel Dara L. Steele-Belkin sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $86.00, for a total transaction of $172,000.00. Following the completion of the sale, the general counsel owned 30,713 shares in the company, valued at $2,641,318. The trade was a 6.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.01% of the stock is currently owned by insiders.

Global Payments Stock Performance

Shares of Global Payments stock opened at $85.40 on Monday. The business has a 50-day simple moving average of $86.30 and a 200-day simple moving average of $81.71. The company has a market cap of $20.72 billion, a PE ratio of 14.93, a P/E/G ratio of 0.82 and a beta of 0.98. Global Payments Inc. has a one year low of $65.93 and a one year high of $120.00. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95.

Global Payments (NYSE:GPN) last posted its earnings results on Wednesday, August 6th. The business services provider reported $3.10 earnings per share for the quarter, topping the consensus estimate of $3.06 by $0.04. The firm had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.36 billion. Global Payments had a return on equity of 12.47% and a net margin of 15.07%.The firm’s revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.93 earnings per share. On average, equities research analysts forecast that Global Payments Inc. will post 11.89 EPS for the current fiscal year.

Global Payments Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, September 12th. This represents a $1.00 annualized dividend and a yield of 1.2%. Global Payments’s payout ratio is presently 17.48%.

Global Payments Company 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.