State of Alaska Department of Revenue Has $2.19 Million Position in Global Payments Inc. $GPN

State of Alaska Department of Revenue reduced its holdings in shares of Global Payments Inc. (NYSE:GPN) by 5.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,408 shares of the business services provider’s stock after selling 1,605 shares during the period. State of Alaska Department of Revenue’s holdings in Global Payments were worth $2,193,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. SG Americas Securities LLC boosted its position in shares of Global Payments by 75,379.7% during the 1st quarter. SG Americas Securities LLC now owns 1,517,141 shares of the business services provider’s stock worth $148,558,000 after purchasing an additional 1,515,131 shares in the last quarter. Nuveen LLC bought a new position in shares of Global Payments during the 1st quarter worth about $94,107,000. Amundi boosted its position in shares of Global Payments by 77.5% during the 1st quarter. Amundi now owns 2,001,585 shares of the business services provider’s stock worth $186,107,000 after purchasing an additional 874,175 shares in the last quarter. National Bank of Canada FI boosted its position in shares of Global Payments by 346.9% during the 1st quarter. National Bank of Canada FI now owns 912,667 shares of the business services provider’s stock worth $89,368,000 after purchasing an additional 708,451 shares in the last quarter. Finally, Strs Ohio bought a new position in shares of Global Payments during the 1st quarter worth about $66,441,000. 89.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Global Payments

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

Global Payments Price Performance

Shares of NYSE GPN opened at $86.58 on Friday. Global Payments Inc. has a fifty-two week low of $65.93 and a fifty-two week high of $120.00. The stock has a market cap of $21.01 billion, a price-to-earnings ratio of 15.14, a PEG ratio of 0.81 and a beta of 0.98. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95. The firm’s 50-day simple moving average is $85.33 and its 200 day simple moving average is $82.83.

Global Payments (NYSE:GPN) last announced its quarterly earnings results on Wednesday, August 6th. The business services provider reported $3.10 earnings per share for the quarter, beating 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 business had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $2.36 billion. During the same quarter last year, the firm earned $2.93 EPS. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. As a group, research analysts anticipate that Global Payments Inc. will post 11.89 earnings per share for the current fiscal year.

Global Payments Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, September 12th. This represents a $1.00 annualized dividend and a dividend yield of 1.2%. Global Payments’s dividend payout ratio (DPR) is currently 17.48%.

Analysts Set New Price Targets

GPN has been the topic of a number of research analyst reports. TD Cowen cut shares of Global Payments from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 21st. Evercore ISI increased their price objective on shares of Global Payments from $85.00 to $90.00 and gave the stock an “in-line” rating in a research report on Friday, August 8th. 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 report on Wednesday, July 9th. UBS Group increased their price objective on shares of Global Payments from $85.00 to $93.00 and gave the stock a “neutral” rating in a research report on Thursday, August 7th. Finally, B. Riley reaffirmed a “buy” rating on shares of Global Payments in a research report on Wednesday, July 16th. Eight analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $103.75.

Global Payments Company 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.