Advisors Asset Management Inc. Decreases Stake in Global Payments Inc. (GPN)

Advisors Asset Management Inc. reduced its holdings in shares of Global Payments Inc. (NYSE:GPN) by 8.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,751 shares of the business services provider’s stock after selling 2,246 shares during the quarter. Advisors Asset Management Inc.’s holdings in Global Payments were worth $2,257,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of GPN. Janus Henderson Group PLC grew its stake in shares of Global Payments by 11,779.8% during the 2nd quarter. Janus Henderson Group PLC now owns 2,292,798 shares of the business services provider’s stock worth $207,086,000 after acquiring an additional 2,273,498 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Global Payments by 162.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,284,298 shares of the business services provider’s stock worth $296,636,000 after acquiring an additional 2,030,880 shares in the last quarter. Capital International Investors bought a new position in shares of Global Payments during the 2nd quarter worth approximately $173,900,000. Capital Guardian Trust Co. bought a new position in shares of Global Payments during the 2nd quarter worth approximately $49,793,000. Finally, Vanguard Group Inc. grew its stake in shares of Global Payments by 3.0% during the 2nd quarter. Vanguard Group Inc. now owns 15,211,802 shares of the business services provider’s stock worth $1,373,930,000 after acquiring an additional 448,864 shares in the last quarter. 91.13% of the stock is owned by institutional investors.

In other Global Payments news, Director Alan M. Silberstein sold 600 shares of the firm’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $97.70, for a total transaction of $58,620.00. Following the completion of the sale, the director now owns 46,693 shares of the company’s stock, valued at approximately $4,561,906.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert H. B. Baldwin, Jr. sold 8,200 shares of the firm’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $97.61, for a total value of $800,402.00. Following the sale, the director now directly owns 172,497 shares of the company’s stock, valued at approximately $16,837,432.17. The disclosure for this sale can be found here. Insiders have sold a total of 37,800 shares of company stock valued at $3,750,676 in the last ninety days. Insiders own 0.93% of the company’s stock.

Shares of Global Payments Inc. (NYSE:GPN) traded up $1.04 during trading on Monday, reaching $103.47. The company’s stock had a trading volume of 266,000 shares, compared to its average volume of 1,112,893. Global Payments Inc. has a fifty-two week low of $65.91 and a fifty-two week high of $104.83. The firm has a market cap of $16,470.00, a P/E ratio of 27.81, a price-to-earnings-growth ratio of 1.90 and a beta of 1.14. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.27.

Global Payments (NYSE:GPN) last announced its quarterly earnings results on Wednesday, November 8th. The business services provider reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.12. Global Payments had a return on equity of 18.50% and a net margin of 7.14%. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $917.31 million. During the same quarter last year, the firm posted $0.89 EPS. The company’s quarterly revenue was up 9.1% on a year-over-year basis. sell-side analysts expect that Global Payments Inc. will post 3.81 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.04%. The ex-dividend date is Thursday, December 14th. Global Payments’s dividend payout ratio is 2.27%.

GPN has been the subject of several research reports. Credit Suisse Group reaffirmed an “outperform” rating on shares of Global Payments in a research note on Tuesday, September 5th. Deutsche Bank AG reissued a “buy” rating and issued a $115.00 price objective (up previously from $100.00) on shares of Global Payments in a report on Tuesday, October 10th. Robert W. Baird reissued a “buy” rating and issued a $106.00 price objective on shares of Global Payments in a report on Tuesday, September 5th. Zacks Investment Research raised Global Payments from a “hold” rating to a “buy” rating and set a $110.00 price objective for the company in a report on Wednesday, October 11th. Finally, Barclays PLC increased their price objective on Global Payments from $105.00 to $116.00 and gave the company an “overweight” rating in a report on Wednesday, October 11th. Two analysts have rated the stock with a sell rating, five have given a hold rating and twenty-three have issued a buy rating to the company. Global Payments has a consensus rating of “Buy” and a consensus price target of $105.01.

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About Global Payments

Global Payments Inc is a provider of payment technology services. The Company provides payment and digital commerce solutions. The Company operates through three segments: North America, Europe and Asia-Pacific. The Company’s segments primarily provide payment solutions for credit cards, debit cards, electronic payments and check-related services.

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

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