Global Payments Inc. $GPN Stake Lessened by Compagnie Lombard Odier SCmA

Key Points

• Compagnie Lombard Odier SCmA significantly reduced its stake in Global Payments Inc. by 99.3%, ending the second quarter with only 350 shares.
• JP Morgan raised their price target for Global Payments from $85.00 to $95.00, suggesting a neutral rating for the stock while other brokerages also increased their price targets and ratings.
• Global Payments announced a quarterly dividend of $0.25 per share, set to be paid on September 26th, indicating a yield of 1.2% based on its payout ratio of 17.48%.

Compagnie Lombard Odier SCmA trimmed its stake in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 99.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 350 shares of the business services provider's stock after selling 52,168 shares during the quarter. Compagnie Lombard Odier SCmA's holdings in Global Payments were worth $28,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Golden State Wealth Management LLC raised its stake in shares of 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 purchasing an additional 438 shares in the last quarter. Tradewinds LLC. acquired a new stake in Global Payments during the first quarter valued at approximately $685,000. Argyle Capital Management LLC lifted its holdings in Global Payments by 114.4% during the 1st quarter. Argyle Capital Management LLC now owns 18,305 shares of the business services provider's stock worth $1,792,000 after buying an additional 9,768 shares during the last quarter. Malaga Cove Capital LLC grew its position in shares of Global Payments by 85.0% in the 1st quarter. Malaga Cove Capital LLC now owns 15,094 shares of the business services provider's stock worth $1,478,000 after acquiring an additional 6,933 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its holdings in shares of Global Payments by 1,828.3% in the 1st quarter. Teacher Retirement System of Texas now owns 45,932 shares of the business services provider's stock valued at $4,498,000 after acquiring an additional 43,550 shares during the last quarter. Institutional investors own 89.76% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on GPN. JPMorgan Chase & Co. raised their price objective on Global Payments from $85.00 to $95.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. Evercore ISI raised their price target on shares of Global Payments from $85.00 to $90.00 and gave the stock an "in-line" rating in a research report on Friday, August 8th. Mizuho raised shares of Global Payments from a "neutral" rating to an "outperform" rating and boosted their price objective for the company from $86.00 to $114.00 in a research report on Friday, July 25th. KeyCorp reiterated an "overweight" rating and set a $100.00 price objective (up previously from $90.00) on shares of Global Payments in a research note on Thursday, August 7th. Finally, Royal Bank Of Canada lifted their target price on Global Payments from $86.00 to $93.00 and gave the company a "sector perform" rating in a research note on Thursday, August 7th. Nine analysts have rated the stock with a Buy rating and eighteen have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $110.70.

Insider Transactions at Global Payments

In other news, General Counsel Dara L. Steele-Belkin sold 2,000 shares of the stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $86.00, for a total value of $172,000.00. Following the completion of the transaction, the general counsel owned 30,713 shares of the company's stock, valued at approximately $2,641,318. This represents a 6.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 1.01% of the company's stock.

Global Payments Trading Down 0.8%

Shares of NYSE:GPN opened at $86.24 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. The company's 50-day moving average price is $84.98 and its 200 day moving average price is $83.18. The company has a market cap of $20.92 billion, a PE ratio of 15.08, a P/E/G ratio of 0.83 and a beta of 0.97. Global Payments Inc. has a fifty-two week low of $65.93 and a fifty-two week high of $120.00.

Global Payments (NYSE:GPN - Get Free Report) last posted its earnings results on Wednesday, August 6th. The business services provider reported $3.10 EPS for the quarter, topping the consensus estimate of $3.06 by $0.04. The firm had revenue of $2.36 billion during the quarter, compared to analysts' expectations of $2.36 billion. Global Payments had a net margin of 15.07% and a return on equity of 12.47%. Global Payments's quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.93 EPS. Sell-side analysts anticipate that Global Payments Inc. will post 11.89 earnings per share for the current year.

Global Payments Dividend Announcement

The firm also recently declared 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 payout ratio is 17.48%.

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.

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