Tokio Marine Asset Management Co. Ltd. Purchases 735 Shares of Global Payments Inc. (NYSE:GPN)

Tokio Marine Asset Management Co. Ltd. increased its position in Global Payments Inc. (NYSE:GPN) by 10.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,750 shares of the business services provider’s stock after purchasing an additional 735 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Global Payments were worth $759,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Optiver Holding B.V. bought a new position in shares of Global Payments in the 4th quarter worth $28,000. NBC Securities Inc. purchased a new position in Global Payments during the 1st quarter worth $30,000. True Wealth Design LLC purchased a new position in Global Payments during the 4th quarter worth $40,000. Larson Financial Group LLC boosted its holdings in Global Payments by 546.6% during the 1st quarter. Larson Financial Group LLC now owns 375 shares of the business services provider’s stock worth $37,000 after acquiring an additional 317 shares during the last quarter. Finally, Zions Bancorporation National Association UT purchased a new position in Global Payments during the 1st quarter worth $37,000. 89.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

GPN has been the topic of a number of analyst reports. Jefferies Financial Group downgraded shares of Global Payments from a “buy” rating to a “hold” rating and set a $75.00 price objective on the stock. in a report on Friday, April 18th. B. Riley reaffirmed a “buy” rating on shares of Global Payments in a report on Wednesday, July 16th. Keefe, Bruyette & Woods lifted their target price on Global Payments from $81.00 to $85.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 9th. Mizuho upgraded Global Payments from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $86.00 to $114.00 in a research note on Friday, July 25th. Finally, JPMorgan Chase & Co. lifted their target price on Global Payments from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Thursday, August 7th. One research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $112.21.

Insider Buying and Selling

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 shares were sold at an average price of $86.00, for a total transaction of $172,000.00. Following the completion of the transaction, the general counsel owned 30,713 shares of the company’s stock, valued at approximately $2,641,318. The trade was a 6.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.01% of the company’s stock.

Global Payments Trading Down 0.4%

Shares of GPN opened at $86.83 on Friday. The business’s 50-day moving average price is $80.67 and its 200-day moving average price is $86.93. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. Global Payments Inc. has a twelve month low of $65.93 and a twelve month high of $120.00. The stock has a market cap of $21.07 billion, a PE ratio of 15.18, a P/E/G ratio of 0.83 and a beta of 0.93.

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

Global Payments Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, September 12th. This represents a $1.00 annualized dividend and a yield of 1.2%. Global Payments’s payout ratio is currently 17.48%.

Global Payments 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.