37,133 Shares in Global Payments Inc. (NYSE:GPN) Acquired by Quantbot Technologies LP

Quantbot Technologies LP acquired a new position in shares of Global Payments Inc. (NYSE:GPN) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 37,133 shares of the business services provider’s stock, valued at approximately $3,591,000.

Several other institutional investors also recently bought and sold shares of GPN. New Covenant Trust Company N.A. purchased a new stake in Global Payments during the first quarter worth approximately $31,000. LRI Investments LLC purchased a new stake in Global Payments during the first quarter worth approximately $32,000. POM Investment Strategies LLC purchased a new stake in Global Payments during the second quarter worth approximately $32,000. West Paces Advisors Inc. grew its stake 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 buying an additional 109 shares during the period. Finally, North Star Investment Management Corp. grew its stake 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 buying an additional 215 shares during the period. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

Global Payments Stock Up 0.6 %

Shares of NYSE:GPN opened at $111.05 on Tuesday. The stock has a market capitalization of $28.26 billion, a price-to-earnings ratio of 22.03, a price-to-earnings-growth ratio of 0.70 and a beta of 0.98. Global Payments Inc. has a 1-year low of $91.60 and a 1-year high of $141.77. The company’s fifty day moving average is $104.27 and its two-hundred day moving average is $110.49. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.92 and a current ratio of 0.92.

Global Payments (NYSE:GPN) last issued its earnings results on Wednesday, August 7th. The business services provider reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.90 by $0.03. The company had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.32 billion. Global Payments had a net margin of 14.26% and a return on equity of 11.93%. The firm’s revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the company earned $2.48 earnings per share. Equities analysts anticipate that Global Payments Inc. will post 11.07 EPS for the current year.

Global Payments Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.90%. Global Payments’s dividend payout ratio (DPR) is 19.84%.

Insider Buying and Selling

In related news, CAO David M. Sheffield sold 1,651 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $100.73, for a total value of $166,305.23. Following the sale, the chief accounting officer now owns 20,531 shares of the company’s stock, valued at approximately $2,068,087.63. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.98% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Keefe, Bruyette & Woods decreased their price objective on shares of Global Payments from $150.00 to $140.00 and set an “outperform” rating for the company in a research note on Monday, July 8th. Susquehanna decreased their target price on shares of Global Payments from $157.00 to $147.00 and set a “positive” rating for the company in a research note on Thursday, August 8th. TD Cowen decreased their target price on shares of Global Payments from $152.00 to $125.00 and set a “buy” rating for the company in a research note on Friday, June 21st. Royal Bank of Canada decreased their target price on shares of Global Payments from $172.00 to $158.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Finally, BNP Paribas upgraded shares of Global Payments to a “strong sell” rating in a research note on Wednesday, September 4th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $140.96.

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.