Bank of Montreal Can Has $22.71 Million Stake in Global Payments Inc. (NYSE:GPN)

Bank of Montreal Can decreased its holdings in shares of Global Payments Inc. (NYSE:GPNGet Rating) by 68.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 194,474 shares of the business services provider’s stock after selling 421,506 shares during the quarter. Bank of Montreal Can owned 0.07% of Global Payments worth $22,710,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of GPN. Steadfast Capital Management LP raised its stake in Global Payments by 11,555.1% during the first quarter. Steadfast Capital Management LP now owns 1,787,900 shares of the business services provider’s stock worth $244,656,000 after acquiring an additional 1,772,560 shares in the last quarter. Lyrical Asset Management LP acquired a new stake in Global Payments during the 1st quarter valued at approximately $94,865,000. Echo Street Capital Management LLC raised its holdings in Global Payments by 666.4% during the 1st quarter. Echo Street Capital Management LLC now owns 751,796 shares of the business services provider’s stock worth $102,876,000 after purchasing an additional 653,698 shares during the last quarter. Synovus Financial Corp lifted its position in shares of Global Payments by 8.4% in the 2nd quarter. Synovus Financial Corp now owns 8,202,771 shares of the business services provider’s stock worth $907,566,000 after purchasing an additional 634,733 shares during the period. Finally, Boston Partners boosted its stake in shares of Global Payments by 7.3% in the 1st quarter. Boston Partners now owns 5,051,165 shares of the business services provider’s stock valued at $691,018,000 after purchasing an additional 345,616 shares during the last quarter. Institutional investors and hedge funds own 85.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. KeyCorp dropped their target price on shares of Global Payments from $165.00 to $140.00 and set an “overweight” rating on the stock in a report on Friday, September 23rd. Mizuho reduced their price objective on shares of Global Payments from $148.00 to $132.00 and set a “neutral” rating for the company in a research report on Wednesday, August 3rd. StockNews.com initiated coverage on shares of Global Payments in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Atlantic Securities decreased their price target on shares of Global Payments from $160.00 to $130.00 and set a “neutral” rating for the company in a research note on Wednesday, October 12th. Finally, Susquehanna Bancshares cut their price objective on shares of Global Payments from $240.00 to $210.00 and set a “positive” rating on the stock in a research report on Tuesday, November 1st. Nine analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $158.63.

Insider Activity at Global Payments

In other Global Payments news, Director M Troy Woods bought 5,247 shares of the firm’s stock in a transaction that occurred on Friday, November 4th. The stock was bought at an average price of $95.26 per share, for a total transaction of $499,829.22. Following the completion of the acquisition, the director now directly owns 287,688 shares in the company, valued at $27,405,158.88. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.19% of the stock is owned by corporate insiders.

Global Payments Stock Up 0.4 %

Shares of NYSE GPN opened at $98.01 on Monday. Global Payments Inc. has a 12 month low of $93.99 and a 12 month high of $153.76. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $26.50 billion, a price-to-earnings ratio of 445.52, a PEG ratio of 0.71 and a beta of 1.03. The business has a 50-day moving average of $112.55 and a 200-day moving average of $118.82.

Global Payments (NYSE:GPNGet Rating) last announced its quarterly earnings data on Monday, October 31st. The business services provider reported $2.48 earnings per share for the quarter, meeting the consensus estimate of $2.48. Global Payments had a return on equity of 9.85% and a net margin of 0.79%. The firm had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.04 billion. During the same quarter in the previous year, the company posted $2.00 earnings per share. The business’s revenue was up 3.8% on a year-over-year basis. Sell-side analysts expect that Global Payments Inc. will post 8.9 earnings per share for the current fiscal year.

Global Payments Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Friday, December 16th will be issued a dividend of $0.25 per share. The ex-dividend date is Thursday, December 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.02%. Global Payments’s dividend payout ratio is presently 454.57%.

Global Payments announced that its Board of Directors has authorized a stock buyback program 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 purchase up to 4.2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Global Payments 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.

Further Reading

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

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