Global Payments Inc. (NYSE:GPN) Shares Sold by Goelzer Investment Management Inc.

Goelzer Investment Management Inc. decreased its stake in Global Payments Inc. (NYSE:GPNFree Report) by 14.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,556 shares of the business services provider’s stock after selling 256 shares during the period. Goelzer Investment Management Inc.’s holdings in Global Payments were worth $208,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Global Payments during the fourth quarter valued at approximately $30,000. McGlone Suttner Wealth Management Inc. acquired a new position in Global Payments during the fourth quarter worth approximately $41,000. West Paces Advisors Inc. increased its position in Global Payments by 54.5% during the first quarter. West Paces Advisors Inc. now owns 309 shares of the business services provider’s stock worth $41,000 after purchasing an additional 109 shares during the last quarter. North Star Investment Management Corp. increased its position in Global Payments by 154.7% during the first quarter. North Star Investment Management Corp. now owns 354 shares of the business services provider’s stock worth $47,000 after purchasing an additional 215 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its position in shares of Global Payments by 26.7% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 34,922 shares of the business services provider’s stock worth $48,000 after acquiring an additional 7,369 shares in the last quarter. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Insider Buying and Selling

In related news, VP Andrea M. Carter sold 3,300 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $111.34, for a total transaction of $367,422.00. Following the sale, the vice president now owns 25,209 shares in the company, valued at approximately $2,806,770.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.98% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on GPN shares. BMO Capital Markets lowered their price target on shares of Global Payments from $143.00 to $128.00 and set a “market perform” rating for the company in a report on Thursday, May 2nd. TD Cowen lowered their price objective on Global Payments from $152.00 to $125.00 and set a “buy” rating for the company in a report on Friday, June 21st. Monness Crespi & Hardt reduced their price target on shares of Global Payments from $175.00 to $165.00 and set a “buy” rating on the stock in a research report on Friday, May 3rd. Keefe, Bruyette & Woods cut their target price on shares of Global Payments from $150.00 to $140.00 and set an “outperform” rating on the stock in a report on Monday. Finally, Wells Fargo & Company initiated coverage on Global Payments in a research report on Wednesday, June 12th. They set an “equal weight” rating and a $100.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat, Global Payments currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.32.

Get Our Latest Stock Report on GPN

Global Payments Trading Down 1.1 %

GPN stock traded down $1.05 during trading on Monday, hitting $95.17. The company had a trading volume of 267,734 shares, compared to its average volume of 2,313,084. The firm has a 50-day moving average price of $102.20 and a 200-day moving average price of $120.41. The stock has a market cap of $24.29 billion, a price-to-earnings ratio of 19.24, a PEG ratio of 0.61 and a beta of 0.98. Global Payments Inc. has a 12 month low of $91.60 and a 12 month high of $141.77. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.68.

Global Payments (NYSE:GPNGet Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The business services provider reported $2.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.41 by $0.07. The company had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.17 billion. Global Payments had a net margin of 13.40% and a return on equity of 11.72%. As a group, analysts predict that Global Payments Inc. will post 11.09 earnings per share for the current year.

Global Payments Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.00 annualized dividend and a yield of 1.05%. Global Payments’s dividend payout ratio is currently 19.84%.

Global Payments Company Profile

(Free Report)

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.

See Also

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

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