Reinhart Partners LLC. Sells 8,458 Shares of Global Payments Inc. $GPN

Key Points

• Reinhart Partners LLC decreased its holdings in Global Payments Inc. by 10.3%, owning 73,630 shares valued at approximately $5.89 million after selling 8,458 shares in the second quarter.
• Global Payments reported strong quarterly earnings, with earnings per share of $3.10, surpassing analysts' expectations, and revenue of $2.36 billion.
• The company declared a quarterly dividend of $0.25, to be paid on September 26th, representing an annualized yield of 1.2%.

Reinhart Partners LLC. decreased its holdings in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 10.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 73,630 shares of the business services provider's stock after selling 8,458 shares during the period. Reinhart Partners LLC.'s holdings in Global Payments were worth $5,893,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of GPN. SG Americas Securities LLC raised its holdings in Global Payments by 75,379.7% during the first quarter. SG Americas Securities LLC now owns 1,517,141 shares of the business services provider's stock worth $148,558,000 after buying an additional 1,515,131 shares during the last quarter. Nuveen LLC acquired a new position in Global Payments during the first quarter worth $94,107,000. Amundi raised its holdings in Global Payments by 77.5% during the first quarter. Amundi now owns 2,001,585 shares of the business services provider's stock worth $186,107,000 after buying an additional 874,175 shares during the last quarter. National Bank of Canada FI raised its holdings in Global Payments by 346.9% during the first quarter. National Bank of Canada FI now owns 912,667 shares of the business services provider's stock worth $89,368,000 after buying an additional 708,451 shares during the last quarter. Finally, Strs Ohio acquired a new position in Global Payments during the first quarter worth $66,441,000. Institutional investors and hedge funds own 89.76% of the company's stock.

Global Payments Stock Performance

GPN traded up $0.76 during trading on Thursday, hitting $86.11. 2,013,055 shares of the company traded hands, compared to its average volume of 2,063,537. The firm has a market cap of $20.89 billion, a P/E ratio of 15.05, a price-to-earnings-growth ratio of 0.81 and a beta of 0.97. The stock's fifty day moving average is $84.50 and its 200 day moving average is $83.58. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. Global Payments Inc. has a one year low of $65.93 and a one year high of $120.00.

Global Payments (NYSE:GPN - Get Free Report) last posted 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. The company had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.36 billion. Global Payments had a net margin of 15.07% and a return on equity of 12.47%. The firm's revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.93 earnings per share. As a group, equities analysts predict that Global Payments Inc. will post 11.89 EPS for the current fiscal year.

Global Payments Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages have recently commented on GPN. Royal Bank Of Canada increased their target price on shares of Global Payments from $86.00 to $93.00 and gave the company a "sector perform" rating in a report on Thursday, August 7th. JPMorgan Chase & Co. increased their target price on shares of Global Payments from $85.00 to $95.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. B. Riley reiterated a "buy" rating on shares of Global Payments in a report on Wednesday, July 16th. UBS Group increased their target price on shares of Global Payments from $85.00 to $93.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Finally, KeyCorp reiterated an "overweight" rating and issued a $100.00 target price (up previously from $90.00) on shares of Global Payments in a report on Thursday, August 7th. Nine research analysts have rated the stock with a Buy rating and nineteen have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $110.70.

Insiders Place Their Bets

In other Global Payments news, General Counsel Dara L. Steele-Belkin sold 2,000 shares of the stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $86.00, for a total transaction of $172,000.00. Following the completion of the transaction, the general counsel owned 30,713 shares in the company, valued at $2,641,318. This trade represents a 6.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.01% of the stock is owned by corporate insiders.

Global Payments 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.