Toronto Dominion Bank Sells 201,171 Shares of Global Payments Inc. (NYSE:GPN)

Toronto Dominion Bank trimmed its position in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 59.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 136,207 shares of the business services provider's stock after selling 201,171 shares during the quarter. Toronto Dominion Bank owned 0.05% of Global Payments worth $15,263,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Optiver Holding B.V. bought a new position in shares of Global Payments in the fourth quarter worth approximately $28,000. Whipplewood Advisors LLC purchased a new stake in shares of Global Payments during the fourth quarter valued at $37,000. Quintet Private Bank Europe S.A. purchased a new position in Global Payments in the fourth quarter worth about $38,000. True Wealth Design LLC purchased a new position in shares of Global Payments during the 4th quarter valued at about $40,000. Finally, Manchester Capital Management LLC raised its stake in Global Payments by 177.5% during the 4th quarter. Manchester Capital Management LLC now owns 469 shares of the business services provider's stock valued at $53,000 after purchasing an additional 300 shares during the period. 89.76% of the stock is currently owned by institutional investors.

Global Payments Trading Down 0.5%

GPN traded down $0.36 during trading hours on Friday, reaching $75.49. 4,674,141 shares of the company's stock traded hands, compared to its average volume of 2,476,381. The company has a quick ratio of 0.93, a current ratio of 0.97 and a debt-to-equity ratio of 0.66. The firm has a 50-day moving average price of $81.33 and a 200 day moving average price of $99.24. The firm has a market capitalization of $18.41 billion, a PE ratio of 12.21, a PEG ratio of 0.86 and a beta of 0.96. Global Payments Inc. has a 52-week low of $65.93 and a 52-week high of $120.00.

Global Payments (NYSE:GPN - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The business services provider reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.73 by $0.09. The business had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.20 billion. Global Payments had a return on equity of 12.21% and a net margin of 15.54%. The company's quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.59 EPS. As a group, sell-side analysts predict that Global Payments Inc. will post 11.89 EPS for the current fiscal year.

Global Payments Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.00 annualized dividend and a dividend yield of 1.32%. Global Payments's dividend payout ratio is currently 16.13%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Citigroup restated a "buy" rating on shares of Global Payments in a report on Monday, April 21st. Morgan Stanley reduced their target price on Global Payments from $166.00 to $163.00 and set an "overweight" rating for the company in a report on Friday, February 14th. TD Cowen downgraded Global Payments from a "buy" rating to a "hold" rating and set a $78.00 price objective for the company. in a research report on Monday, April 21st. Wells Fargo & Company dropped their price target on shares of Global Payments from $105.00 to $77.00 and set an "equal weight" rating for the company in a research note on Monday, April 21st. Finally, Barclays reduced their price target on shares of Global Payments from $125.00 to $110.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Global Payments has an average rating of "Hold" and an average target price of $112.43.

Global Payments Company 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.