Global Payments Inc. (NYSE:GPN) Shares Sold by Pacer Advisors Inc.

Key Points

• Pacer Advisors Inc. reduced its holdings in Global Payments Inc. by 37.9%, selling 7,725 shares, bringing its total to 12,649 shares valued at approximately $1,239,000.
• Global Payments recently reported $2.82 earnings per share, exceeding analysts' expectations of $2.73, despite a 0.3% decline in revenue year-over-year.
• Analysts maintain a consensus rating of "Hold" for Global Payments, with a price target averaging $111.65 per share.

Pacer Advisors Inc. cut its stake in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 37.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,649 shares of the business services provider's stock after selling 7,725 shares during the quarter. Pacer Advisors Inc.'s holdings in Global Payments were worth $1,239,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of GPN. Banco Bilbao Vizcaya Argentaria S.A. boosted its stake in Global Payments by 0.4% in the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 33,902 shares of the business services provider's stock valued at $3,795,000 after acquiring an additional 122 shares in the last quarter. Perigon Wealth Management LLC boosted its stake in Global Payments by 3.8% in the first quarter. Perigon Wealth Management LLC now owns 3,932 shares of the business services provider's stock valued at $385,000 after acquiring an additional 144 shares in the last quarter. Transcend Capital Advisors LLC boosted its stake in Global Payments by 7.9% in the first quarter. Transcend Capital Advisors LLC now owns 2,135 shares of the business services provider's stock valued at $209,000 after acquiring an additional 157 shares in the last quarter. Pinnacle Associates Ltd. lifted its stake in shares of Global Payments by 4.1% during the first quarter. Pinnacle Associates Ltd. now owns 4,342 shares of the business services provider's stock worth $425,000 after buying an additional 171 shares during the period. Finally, Vident Advisory LLC lifted its stake in shares of Global Payments by 1.7% during the fourth quarter. Vident Advisory LLC now owns 10,382 shares of the business services provider's stock worth $1,163,000 after buying an additional 172 shares during the period. 89.76% of the stock is owned by hedge funds and other institutional investors.

Global Payments Trading Down 2.4%

Global Payments stock traded down $1.95 during trading on Friday, reaching $78.00. The company had a trading volume of 2,099,772 shares, compared to its average volume of 2,061,985. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.94 and a current ratio of 0.94. Global Payments Inc. has a 12-month low of $65.93 and a 12-month high of $120.00. The stock's 50 day moving average price is $79.20 and its two-hundred day moving average price is $88.73. The firm has a market capitalization of $19.02 billion, a price-to-earnings ratio of 12.58, a PEG ratio of 0.75 and a beta of 0.93.

Global Payments (NYSE:GPN - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The business services provider reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $2.20 billion. During the same period in the previous year, the firm earned $2.59 earnings per share. Global Payments's revenue for the quarter was down .3% on a year-over-year basis. As a group, equities analysts expect that Global Payments Inc. will post 11.89 earnings per share for the current fiscal year.

Global Payments Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.00 annualized dividend and a yield of 1.3%. Global Payments's dividend payout ratio is currently 16.13%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on GPN shares. Wall Street Zen upgraded shares of Global Payments from a "hold" rating to a "buy" rating in a research note on Thursday, May 15th. Citigroup restated a "buy" rating on shares of Global Payments in a research report on Monday, April 21st. B. Riley reiterated a "buy" rating on shares of Global Payments in a research report on Wednesday, July 16th. Evercore ISI began coverage on shares of Global Payments in a research report on Wednesday, April 9th. They issued an "in-line" rating and a $85.00 price objective for the company. Finally, Cowen cut shares of Global Payments from a "buy" rating to a "hold" rating in a research note on Monday, April 21st. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $111.65.

About Global Payments

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.