AMP Capital Investors Ltd Lowers Position in Global Payments Inc (GPN)

AMP Capital Investors Ltd cut its holdings in Global Payments Inc (NYSE:GPN) by 2.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 38,701 shares of the business services provider’s stock after selling 1,019 shares during the quarter. AMP Capital Investors Ltd’s holdings in Global Payments were worth $4,905,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. FMR LLC raised its holdings in Global Payments by 12.5% in the second quarter. FMR LLC now owns 9,712,626 shares of the business services provider’s stock worth $1,082,860,000 after purchasing an additional 1,082,153 shares in the last quarter. Janus Henderson Group PLC raised its holdings in Global Payments by 36.5% in the second quarter. Janus Henderson Group PLC now owns 3,501,061 shares of the business services provider’s stock worth $390,333,000 after purchasing an additional 935,336 shares in the last quarter. Temasek Holdings Private Ltd raised its holdings in Global Payments by 252.8% in the second quarter. Temasek Holdings Private Ltd now owns 876,176 shares of the business services provider’s stock worth $97,685,000 after purchasing an additional 627,814 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Global Payments by 14.7% in the third quarter. JPMorgan Chase & Co. now owns 4,520,530 shares of the business services provider’s stock worth $575,914,000 after purchasing an additional 581,025 shares in the last quarter. Finally, Eagle Asset Management Inc. raised its holdings in Global Payments by 13,458.2% in the third quarter. Eagle Asset Management Inc. now owns 430,337 shares of the business services provider’s stock worth $54,824,000 after purchasing an additional 427,163 shares in the last quarter. 97.43% of the stock is owned by institutional investors.

GPN opened at $103.84 on Monday. Global Payments Inc has a 52-week low of $98.82 and a 52-week high of $129.25. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market cap of $16.43 billion, a PE ratio of 25.90, a P/E/G ratio of 1.19 and a beta of 1.16.

Global Payments (NYSE:GPN) last issued its quarterly earnings results on Tuesday, October 30th. The business services provider reported $1.44 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $0.05. Global Payments had a net margin of 17.48% and a return on equity of 18.38%. The company had revenue of $857.70 million for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the prior year, the company earned $1.15 EPS. Global Payments’s quarterly revenue was down 17.4% on a year-over-year basis. On average, analysts anticipate that Global Payments Inc will post 4.88 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, December 14th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $0.04 annualized dividend and a yield of 0.04%. Global Payments’s dividend payout ratio (DPR) is presently 1.00%.

In other Global Payments news, insider Cameron M. Bready sold 57,737 shares of the company’s stock in a transaction that occurred on Wednesday, September 12th. The stock was sold at an average price of $127.78, for a total value of $7,377,633.86. Following the sale, the insider now owns 189,083 shares in the company, valued at approximately $24,161,025.74. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Robert H. B. Baldwin, Jr. sold 4,125 shares of the company’s stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $128.76, for a total value of $531,135.00. Following the completion of the sale, the director now owns 83,024 shares in the company, valued at approximately $10,690,170.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 74,899 shares of company stock worth $9,528,952. 0.98% of the stock is owned by corporate insiders.

A number of equities analysts have commented on the stock. Barclays assumed coverage on shares of Global Payments in a report on Wednesday, November 14th. They issued an “overweight” rating and a $136.00 target price for the company. ValuEngine downgraded shares of Global Payments from a “buy” rating to a “hold” rating in a report on Tuesday, November 6th. Guggenheim downgraded shares of Global Payments from a “buy” rating to a “neutral” rating in a report on Monday, November 5th. BMO Capital Markets boosted their target price on shares of Global Payments from $139.00 to $146.00 and gave the stock an “outperform” rating in a report on Thursday, November 1st. Finally, Cantor Fitzgerald upped their price objective on shares of Global Payments from $136.00 to $143.00 and gave the company an “overweight” rating in a report on Wednesday, October 31st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have assigned a buy rating to the company. Global Payments has an average rating of “Buy” and a consensus price target of $123.30.

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Global Payments Company Profile

Global Payments Inc provides payment technology and software solutions for credit cards, debit cards, electronic payments, and check-related services. It 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, online reporting, industry compliance, and payment card industry security services.

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

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