Fifth Third Bancorp Sells 1,054 Shares of Global Payments Inc. (NYSE:GPN)

Fifth Third Bancorp decreased its stake in shares of Global Payments Inc. (NYSE:GPN) by 6.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 16,124 shares of the business services provider’s stock after selling 1,054 shares during the quarter. Fifth Third Bancorp’s holdings in Global Payments were worth $2,863,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of the company. Egerton Capital UK LLP increased its holdings in shares of Global Payments by 16.5% during the 3rd quarter. Egerton Capital UK LLP now owns 2,942,641 shares of the business services provider’s stock worth $522,554,000 after purchasing an additional 417,686 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Global Payments by 6.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,515,894 shares of the business services provider’s stock worth $426,747,000 after purchasing an additional 154,884 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Global Payments by 18.6% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,795,430 shares of the business services provider’s stock worth $304,541,000 after purchasing an additional 281,375 shares during the period. California Public Employees Retirement System increased its holdings in shares of Global Payments by 2.1% during the 3rd quarter. California Public Employees Retirement System now owns 1,540,751 shares of the business services provider’s stock worth $273,607,000 after purchasing an additional 31,401 shares during the period. Finally, Swiss National Bank increased its stake in Global Payments by 1.6% in the second quarter. Swiss National Bank now owns 1,185,027 shares of the business services provider’s stock valued at $201,004,000 after acquiring an additional 18,600 shares during the period. Institutional investors own 86.81% of the company’s stock.

In other Global Payments news, Director John Thompson Turner sold 1,064 shares of the company’s stock in a transaction that occurred on Wednesday, November 11th. The shares were sold at an average price of $190.53, for a total value of $202,723.92. Following the completion of the sale, the director now owns 4,773 shares of the company’s stock, valued at $909,399.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William I. Jacobs sold 500 shares of the company’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $171.46, for a total transaction of $85,730.00. Following the completion of the sale, the director now directly owns 24,393 shares of the company’s stock, valued at approximately $4,182,423.78. The disclosure for this sale can be found here. Insiders sold 9,288 shares of company stock worth $1,639,512 over the last 90 days. 0.88% of the stock is currently owned by company insiders.

Shares of NYSE GPN opened at $190.70 on Friday. The company’s 50 day simple moving average is $177.00 and its 200 day simple moving average is $174.73. Global Payments Inc. has a fifty-two week low of $105.54 and a fifty-two week high of $209.62. The firm has a market capitalization of $57.08 billion, a P/E ratio of 113.51, a P/E/G ratio of 1.54 and a beta of 1.07. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.13 and a quick ratio of 1.13.

Global Payments (NYSE:GPN) last announced its quarterly earnings data on Thursday, October 29th. The business services provider reported $1.71 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.66 by $0.05. Global Payments had a net margin of 6.75% and a return on equity of 6.46%. The business had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same period in the prior year, the business posted $1.70 earnings per share. Global Payments’s revenue was up 73.4% compared to the same quarter last year. Sell-side analysts expect that Global Payments Inc. will post 6.03 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Thursday, December 17th will be issued a $0.195 dividend. The ex-dividend date is Wednesday, December 16th. This represents a $0.78 annualized dividend and a yield of 0.41%. Global Payments’s dividend payout ratio is currently 13.31%.

A number of analysts recently weighed in on GPN shares. Northcoast Research reissued a “neutral” rating on shares of Global Payments in a research note on Tuesday, August 4th. Oppenheimer reissued a “buy” rating and issued a $207.00 target price on shares of Global Payments in a research note on Friday, October 30th. Sanford C. Bernstein started coverage on shares of Global Payments in a research note on Tuesday, August 18th. They issued an “outperform” rating and a $201.00 target price on the stock. Mizuho started coverage on shares of Global Payments in a research note on Wednesday, August 26th. They issued a “neutral” rating and a $165.00 target price on the stock. Finally, Loop Capital started coverage on shares of Global Payments in a research note on Tuesday, September 22nd. They issued a “buy” rating and a $199.00 target price on the stock. Five research analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the stock. Global Payments presently has an average rating of “Buy” and a consensus price target of $202.39.

About Global Payments

Global Payments Inc provides payment technology and software solutions for card, electronic, check, and digital-based payments in North America, Europe, the Asia-Pacific, and Latin America. The company operates through three segments: Merchant Solutions, Issuer Solutions, and Business and Consumer Solutions.

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

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