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Equitable Trust Co. Sells 7,334 Shares of Global Payments Inc. (NYSE:GPN)

Global Payments logo with Business Services background

Key Points

  • Equitable Trust Co. reduced its stake in Global Payments Inc. by 28.6%, bringing their holdings to 18,313 shares valued at approximately $1.79 million.
  • Despite recent adjustments by institutional investors, including Pzena Investment Management LLC and Geode Capital Management LLC, 89.76% of Global Payments' stock remains owned by institutional investors and hedge funds.
  • Global Payments announced a quarterly dividend of $0.25 per share with a dividend yield of 1.16%, reflecting a payout ratio of 16.13%.
  • MarketBeat previews top five stocks to own in September.

Equitable Trust Co. lowered its position in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 28.6% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 18,313 shares of the business services provider's stock after selling 7,334 shares during the period. Equitable Trust Co.'s holdings in Global Payments were worth $1,793,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of GPN. Optiver Holding B.V. acquired a new stake in Global Payments in the fourth quarter worth about $28,000. NBC Securities Inc. acquired a new stake in Global Payments in the 1st quarter valued at about $30,000. True Wealth Design LLC acquired a new stake in Global Payments in the 4th quarter valued at about $40,000. Larson Financial Group LLC lifted its holdings in Global Payments by 546.6% in the 1st quarter. Larson Financial Group LLC now owns 375 shares of the business services provider's stock valued at $37,000 after acquiring an additional 317 shares during the last quarter. Finally, Golden State Wealth Management LLC lifted its holdings in Global Payments by 4,866.7% in the 1st quarter. Golden State Wealth Management LLC now owns 447 shares of the business services provider's stock valued at $44,000 after acquiring an additional 438 shares during the last quarter. Institutional investors own 89.76% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GPN. Barclays cut their price target on shares of Global Payments from $125.00 to $110.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Mizuho upgraded Global Payments from a "neutral" rating to an "outperform" rating and upped their target price for the company from $86.00 to $114.00 in a report on Friday, July 25th. TD Cowen upgraded Global Payments from a "hold" rating to a "buy" rating and set a $84.00 price objective on the stock in a report on Monday, July 14th. KeyCorp increased their price objective on Global Payments from $80.00 to $90.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Finally, Williams Trading set a $75.00 price objective on Global Payments in a report on Friday, April 18th. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $111.65.

Read Our Latest Research Report on GPN

Global Payments Price Performance

Shares of NYSE:GPN traded down $0.23 during midday trading on Wednesday, reaching $83.01. The company's stock had a trading volume of 254,766 shares, compared to its average volume of 2,795,733. Global Payments Inc. has a fifty-two week low of $65.93 and a fifty-two week high of $120.00. The company has a market capitalization of $20.24 billion, a P/E ratio of 13.38, a P/E/G ratio of 0.81 and a beta of 0.94. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.94 and a quick ratio of 0.94. The business's fifty day simple moving average is $78.92 and its 200-day simple moving average is $89.18.

Global Payments (NYSE:GPN - Get Free Report) last released its earnings results on Tuesday, May 6th. The business services provider reported $2.82 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.73 by $0.09. Global Payments had a net margin of 15.48% and a return on equity of 12.33%. The company had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same period in the prior year, the company posted $2.59 EPS. The company's revenue was down .3% compared to the same quarter last year. As a group, equities research analysts expect that Global Payments Inc. will post 11.89 EPS for the current fiscal year.

Global Payments Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.00 annualized dividend and a dividend yield of 1.20%. Global Payments's payout ratio is currently 16.13%.

Global Payments 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.

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

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