Contravisory Investment Management Inc. Sells 1,931 Shares of Global Payments Inc. (NYSE:GPN)


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Contravisory Investment Management Inc. cut its stake in shares of Global Payments Inc. (NYSE:GPN) by 27.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,037 shares of the business services provider’s stock after selling 1,931 shares during the quarter. Contravisory Investment Management Inc.’s holdings in Global Payments were worth $1,085,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently made changes to their positions in the company. Price Wealth LLC bought a new stake in Global Payments during the third quarter valued at approximately $36,000. Smithfield Trust Co. grew its holdings in shares of Global Payments by 50.0% during the 3rd quarter. Smithfield Trust Co. now owns 210 shares of the business services provider’s stock valued at $37,000 after purchasing an additional 70 shares during the last quarter. James Investment Research Inc. purchased a new position in Global Payments in the 3rd quarter worth $45,000. Norway Savings Bank purchased a new position in Global Payments in the 3rd quarter worth $49,000. Finally, Asset Dedication LLC lifted its stake in Global Payments by 1,181.8% in the third quarter. Asset Dedication LLC now owns 282 shares of the business services provider’s stock worth $50,000 after purchasing an additional 260 shares during the last quarter. Institutional investors and hedge funds own 79.70% of the company’s stock.

Shares of NYSE GPN traded down $1.49 during trading on Wednesday, hitting $199.05. The company had a trading volume of 1,150,601 shares, compared to its average volume of 1,382,413. The stock has a 50 day simple moving average of $201.11 and a 200 day simple moving average of $181.10. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.13 and a current ratio of 1.13. Global Payments Inc. has a 12 month low of $105.54 and a 12 month high of $215.70. The firm has a market capitalization of $59.58 billion, a P/E ratio of 119.37, a price-to-earnings-growth ratio of 1.73 and a beta of 1.17.

Global Payments (NYSE:GPN) last issued its earnings results on Thursday, October 29th. The business services provider reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.05. The company had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.73 billion. Global Payments had a return on equity of 6.46% and a net margin of 6.75%. The firm’s quarterly revenue was up 73.4% on a year-over-year basis. During the same quarter last year, the company earned $1.70 EPS. As a group, analysts predict that Global Payments Inc. will post 6.03 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 31st. Investors of record on Thursday, December 17th were paid a dividend of $0.195 per share. This represents a $0.78 annualized dividend and a yield of 0.39%. The ex-dividend date of this dividend was Wednesday, December 16th. Global Payments’s dividend payout ratio (DPR) is presently 13.31%.

In related news, Director William I. Jacobs sold 500 shares of the company’s stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $175.16, for a total transaction of $87,580.00. Following the completion of the sale, the director now directly owns 23,893 shares in the company, valued at approximately $4,185,097.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Thompson Turner sold 1,064 shares of the firm’s stock in a transaction dated Wednesday, November 11th. The shares were sold at an average price of $190.53, for a total value of $202,723.92. Following the sale, the director now directly owns 4,773 shares in the company, valued at approximately $909,399.69. The disclosure for this sale can be found here. Insiders have sold a total of 2,064 shares of company stock worth $386,769 in the last three months. 0.88% of the stock is owned by corporate insiders.

GPN has been the topic of a number of recent research reports. Oppenheimer reaffirmed a “buy” rating and set a $207.00 price objective on shares of Global Payments in a research note on Friday, October 30th. Barclays raised their price objective on Global Payments from $183.00 to $225.00 and gave the company an “overweight” rating in a research note on Monday, December 21st. Compass Point initiated coverage on Global Payments in a research note on Wednesday, September 16th. They set a “buy” rating and a $220.00 price objective on the stock. Rosenblatt Securities reaffirmed a “buy” rating on shares of Global Payments in a research note on Monday, November 30th. Finally, Truist reduced their price objective on Global Payments from $235.00 to $200.00 in a research note on Friday, October 30th. Five analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $203.69.

Global Payments Company Profile

Global Payments Inc provides payment technology and software solutions for card, electronic, check, and digital-based payments in North America, Europe, the Asia-Pacific, and Latin America. The company operates through three segments: Merchant Solutions, Issuer Solutions, and Business and Consumer Solutions.

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Institutional Ownership by Quarter for Global Payments (NYSE:GPN)

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