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

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

A number of other hedge funds also recently made changes to their positions in the stock. Private Trust Co. NA raised its position in shares of Global Payments by 11.2% during the fourth quarter. Private Trust Co. NA now owns 992 shares of the business services provider's stock valued at $111,000 after buying an additional 100 shares during the last quarter. Truvestments Capital LLC increased its holdings in shares of Global Payments by 2.9% in the 4th quarter. Truvestments Capital LLC now owns 3,685 shares of the business services provider's stock worth $413,000 after buying an additional 103 shares during the last quarter. Greenleaf Trust grew its position in Global Payments by 5.9% in the fourth quarter. Greenleaf Trust now owns 2,068 shares of the business services provider's stock worth $232,000 after acquiring an additional 115 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in shares of Global Payments by 1.1% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 10,963 shares of the business services provider's stock valued at $1,228,000 after purchasing an additional 117 shares during the last quarter. Finally, Y.D. More Investments Ltd raised its holdings in Global Payments by 1.8% during the 4th quarter. Y.D. More Investments Ltd now owns 6,949 shares of the business services provider's stock valued at $779,000 after buying an additional 120 shares during the period. 89.76% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on GPN shares. StockNews.com raised shares of Global Payments from a "hold" rating to a "buy" rating in a research note on Thursday, May 15th. TD Cowen cut shares of 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 reduced their target price on shares of Global Payments from $105.00 to $77.00 and set an "equal weight" rating on the stock in a research report on Monday, April 21st. Jefferies Financial Group downgraded shares of Global Payments from a "buy" rating to a "hold" rating and set a $75.00 price target for the company. in a research note on Friday, April 18th. Finally, Evercore ISI started coverage on Global Payments in a research note on Wednesday, April 9th. They issued an "in-line" rating and a $85.00 price objective on the stock. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $112.43.

Global Payments Trading Down 1.9%

NYSE:GPN opened at $80.77 on Tuesday. The stock has a market capitalization of $19.70 billion, a price-to-earnings ratio of 13.07, 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. 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 of $85.08 and a 200 day moving average of $101.58.

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 for the quarter, topping analysts' consensus estimates of $2.73 by $0.09. Global Payments had a return on equity of 12.21% and a net margin of 15.54%. The firm had revenue of $2.20 billion during the quarter, compared to analysts' expectations of $2.20 billion. During the same quarter last year, the firm earned $2.59 EPS. The business's quarterly revenue was down .3% on a year-over-year basis. As a group, 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 disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be issued 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 1.24%. Global Payments's dividend payout ratio (DPR) is currently 16.13%.

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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