Independent Advisor Alliance Has $520,000 Stock Position in Global Payments Inc. (NYSE:GPN)

Independent Advisor Alliance lowered its stake in Global Payments Inc. (NYSE:GPNGet Rating) by 10.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,802 shares of the business services provider’s stock after selling 459 shares during the quarter. Independent Advisor Alliance’s holdings in Global Payments were worth $520,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. IFM Investors Pty Ltd lifted its stake in shares of Global Payments by 16.0% in the 1st quarter. IFM Investors Pty Ltd now owns 44,041 shares of the business services provider’s stock valued at $6,027,000 after purchasing an additional 6,070 shares during the period. MUFG Americas Holdings Corp bought a new stake in shares of Global Payments in the 1st quarter valued at $25,000. Hazlett Burt & Watson Inc. bought a new stake in shares of Global Payments in the 1st quarter valued at $27,000. Berkeley Capital Partners LLC bought a new stake in shares of Global Payments in the 1st quarter valued at $690,000. Finally, S&CO Inc. increased its position in shares of Global Payments by 2.4% in the 1st quarter. S&CO Inc. now owns 35,682 shares of the business services provider’s stock valued at $4,882,000 after buying an additional 851 shares in the last quarter. Institutional investors and hedge funds own 84.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Oppenheimer lowered their price objective on shares of Global Payments from $152.00 to $144.00 and set an “outperform” rating for the company in a research report on Tuesday. The Goldman Sachs Group assumed coverage on shares of Global Payments in a research report on Tuesday, May 17th. They issued a “neutral” rating and a $151.00 price objective for the company. Keefe, Bruyette & Woods lowered their price objective on shares of Global Payments from $175.00 to $155.00 in a research report on Monday, July 11th. Citigroup lowered their price objective on shares of Global Payments from $195.00 to $180.00 in a research report on Monday, April 25th. Finally, Barclays lowered their price objective on shares of Global Payments from $182.00 to $160.00 in a research report on Tuesday, May 3rd. Six equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat, Global Payments has a consensus rating of “Moderate Buy” and an average target price of $175.03.

Global Payments Trading Down 0.5 %

Shares of GPN stock opened at $128.00 on Friday. Global Payments Inc. has a 12-month low of $105.52 and a 12-month high of $179.27. The firm has a 50 day moving average price of $118.40 and a two-hundred day moving average price of $129.16. The company has a market capitalization of $35.48 billion, a PE ratio of 711.15, a price-to-earnings-growth ratio of 0.88 and a beta of 1.04. The company has a quick ratio of 1.06, a current ratio of 0.87 and a debt-to-equity ratio of 0.45.

Global Payments (NYSE:GPNGet Rating) last announced its earnings results on Monday, August 1st. The business services provider reported $2.36 EPS for the quarter, topping the consensus estimate of $2.34 by $0.02. Global Payments had a net margin of 0.87% and a return on equity of 9.24%. The company had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.09 billion. During the same period last year, the firm earned $1.92 earnings per share. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. As a group, analysts predict that Global Payments Inc. will post 9 earnings per share for the current year.

Global Payments Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 16th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $1.00 annualized dividend and a dividend yield of 0.78%. Global Payments’s dividend payout ratio is presently 555.59%.

Global Payments declared that its Board of Directors has initiated a share repurchase plan on Monday, August 1st that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the business services provider to repurchase up to 4.2% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Global Payments

In other news, EVP David Lawrence Green sold 16,252 shares of the firm’s stock in a transaction that occurred on Friday, June 3rd. The shares were sold at an average price of $130.10, for a total transaction of $2,114,385.20. Following the transaction, the executive vice president now directly owns 97,818 shares of the company’s stock, valued at $12,726,121.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.19% of the company’s stock.

Global Payments Company Profile

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Global Payments Inc provides payment technology and software solutions for card, electronic, check, and digital-based payments in the Americas, Europe, and the Asia-Pacific. It operates through three segments: Merchant Solutions, Issuer Solutions, and Business and Consumer Solutions. The Merchant Solutions segment 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, and on-line reporting services.

See Also

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

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