Skandinaviska Enskilda Banken AB publ Sells 3,655 Shares of Global Payments Inc. (NYSE:GPN)

Key Points

• Skandinaviska Enskilda Banken AB publ has reduced its holdings in Global Payments Inc. by 7.4% in Q1, now owning 46,045 shares worth approximately $4.51 million.
• Several institutional investors have adjusted their positions in Global Payments, with 89.76% of the stock owned by institutional entities.
• Wall Street analysts have mixed views on Global Payments, with a consensus rating of "Hold" and a target price averaging $111.65, amid recent changes in ratings among major firms.

Skandinaviska Enskilda Banken AB publ cut its holdings in Global Payments Inc. (NYSE:GPN - Free Report) by 7.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 46,045 shares of the business services provider's stock after selling 3,655 shares during the period. Skandinaviska Enskilda Banken AB publ's holdings in Global Payments were worth $4,509,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Pzena Investment Management LLC increased its stake in Global Payments by 0.4% during the first quarter. Pzena Investment Management LLC now owns 8,334,097 shares of the business services provider's stock valued at $816,075,000 after acquiring an additional 35,251 shares during the period. Geode Capital Management LLC increased its stake in Global Payments by 5.1% during the fourth quarter. Geode Capital Management LLC now owns 6,230,322 shares of the business services provider's stock valued at $696,362,000 after acquiring an additional 301,877 shares during the period. Janus Henderson Group PLC increased its stake in Global Payments by 9.8% during the fourth quarter. Janus Henderson Group PLC now owns 2,906,444 shares of the business services provider's stock valued at $325,698,000 after acquiring an additional 259,590 shares during the period. Northern Trust Corp increased its stake in Global Payments by 12.6% during the fourth quarter. Northern Trust Corp now owns 2,730,471 shares of the business services provider's stock valued at $305,977,000 after acquiring an additional 305,987 shares during the period. Finally, Invesco Ltd. increased its stake in Global Payments by 13.4% during the fourth quarter. Invesco Ltd. now owns 1,960,022 shares of the business services provider's stock valued at $219,640,000 after acquiring an additional 231,359 shares during the period. 89.76% of the stock is currently owned by institutional investors.

Global Payments Trading Down 2.8%

NYSE:GPN traded down $2.22 during trading hours on Friday, hitting $77.73. 864,050 shares of the stock were exchanged, compared to its average volume of 2,788,327. The company's 50 day moving average is $79.12 and its two-hundred day moving average is $88.94. Global Payments Inc. has a twelve month low of $65.93 and a twelve month high of $120.00. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $18.96 billion, a P/E ratio of 12.53, a price-to-earnings-growth ratio of 0.78 and a beta of 0.94.

Global Payments (NYSE:GPN - Get Free Report) last posted 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 return on equity of 12.33% and a net margin of 15.48%. The firm had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter in the prior year, the business earned $2.59 EPS. The business's revenue for the quarter was down .3% compared to the same quarter last year. On average, sell-side analysts anticipate 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. Stockholders of record on Friday, June 13th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.3%. Global Payments's dividend payout ratio is 16.13%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on GPN shares. Cowen lowered Global Payments from a "buy" rating to a "hold" rating in a research note on Monday, April 21st. Williams Trading set a $75.00 price objective on Global Payments in a research note on Friday, April 18th. Citigroup reiterated a "buy" rating on shares of Global Payments in a research note on Monday, April 21st. Jefferies Financial Group lowered Global Payments from a "buy" rating to a "hold" rating and set a $75.00 price objective on the stock. in a research note on Friday, April 18th. Finally, 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 research note on Monday, July 14th. One equities research 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's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $111.65.

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.