Oppenheimer Asset Management Inc. Cuts Stake in Global Payments Inc. $GPN

Oppenheimer Asset Management Inc. trimmed its position in shares of Global Payments Inc. (NYSE:GPN) by 31.5% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 55,192 shares of the business services provider’s stock after selling 25,371 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Global Payments were worth $4,418,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of GPN. Pzena Investment Management LLC lifted its stake in Global Payments by 32.6% during the 2nd quarter. Pzena Investment Management LLC now owns 11,050,253 shares of the business services provider’s stock valued at $884,462,000 after acquiring an additional 2,716,156 shares during the period. Amundi lifted its stake in Global Payments by 77.5% during the 1st quarter. Amundi now owns 2,001,585 shares of the business services provider’s stock valued at $186,107,000 after acquiring an additional 874,175 shares during the period. Dimensional Fund Advisors LP lifted its stake in Global Payments by 2.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,955,393 shares of the business services provider’s stock valued at $191,451,000 after acquiring an additional 49,029 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Global Payments by 0.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,624,288 shares of the business services provider’s stock valued at $159,050,000 after acquiring an additional 9,755 shares during the period. Finally, AQR Capital Management LLC lifted its stake in Global Payments by 6.1% during the 1st quarter. AQR Capital Management LLC now owns 1,458,570 shares of the business services provider’s stock valued at $140,402,000 after acquiring an additional 84,285 shares during the period. 89.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Global Payments news, General Counsel Dara L. Steele-Belkin sold 2,000 shares of the firm’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 sale, the general counsel owned 30,713 shares in the company, valued at approximately $2,641,318. This trade represents a 6.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.01% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on GPN shares. KeyCorp cut shares of Global Payments from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, October 22nd. Mizuho upgraded shares of Global Payments from a “neutral” rating to an “outperform” rating and upped their target price for the company from $86.00 to $114.00 in a research note on Friday, July 25th. Evercore ISI upped their target price on shares of Global Payments from $85.00 to $90.00 and gave the company an “in-line” rating in a research note on Friday, August 8th. Weiss Ratings restated a “hold (c-)” rating on shares of Global Payments in a research note on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Global Payments from $81.00 to $85.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 9th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and fourteen have issued a Hold rating to the company. According to data from MarketBeat, Global Payments has a consensus rating of “Hold” and a consensus target price of $103.37.

Global Payments Price Performance

Shares of NYSE:GPN opened at $85.81 on Wednesday. The firm’s 50 day moving average price is $86.52 and its 200-day moving average price is $81.84. Global Payments Inc. has a twelve month low of $65.93 and a twelve month high of $120.00. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $20.82 billion, a PE ratio of 15.00, a price-to-earnings-growth ratio of 0.83 and a beta of 0.98.

Global Payments (NYSE:GPN) last issued its quarterly earnings data 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. Global Payments had a net margin of 15.07% and a return on equity of 12.47%. The firm had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $2.36 billion. During the same quarter in the prior year, the business earned $2.93 EPS. The business’s quarterly revenue was up 1.6% on a year-over-year basis. Equities research analysts expect that Global Payments Inc. will post 11.89 EPS for the current year.

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.