Boston Partners Sells 357,290 Shares of Global Payments Inc. (NYSE:GPN)

Boston Partners reduced its stake in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 6.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,785,481 shares of the business services provider's stock after selling 357,290 shares during the quarter. Global Payments accounts for 0.8% of Boston Partners' holdings, making the stock its 22nd largest position. Boston Partners owned approximately 1.84% of Global Payments worth $608,541,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. FMR LLC raised its position in Global Payments by 40.7% during the third quarter. FMR LLC now owns 9,346,779 shares of the business services provider's stock valued at $1,078,525,000 after acquiring an additional 2,703,434 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Global Payments by 3.4% during the 3rd quarter. Victory Capital Management Inc. now owns 3,499,860 shares of the business services provider's stock valued at $403,849,000 after buying an additional 116,664 shares in the last quarter. Morgan Stanley grew its stake in Global Payments by 2.7% in the 3rd quarter. Morgan Stanley now owns 3,402,869 shares of the business services provider's stock valued at $392,657,000 after acquiring an additional 89,057 shares during the period. Ameriprise Financial Inc. increased its holdings in Global Payments by 338.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,288,108 shares of the business services provider's stock worth $379,416,000 after acquiring an additional 2,537,941 shares in the last quarter. Finally, Nordea Investment Management AB raised its position in Global Payments by 2.6% during the fourth quarter. Nordea Investment Management AB now owns 2,980,048 shares of the business services provider's stock worth $379,777,000 after acquiring an additional 76,606 shares during the period. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Andrea M. Carter sold 3,300 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $111.34, for a total value of $367,422.00. Following the sale, the vice president now directly owns 25,209 shares in the company, valued at $2,806,770.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.98% of the company's stock.

Global Payments Trading Down 2.1 %

Shares of GPN traded down $2.34 during midday trading on Friday, hitting $109.23. 2,167,751 shares of the stock were exchanged, compared to its average volume of 2,266,034. Global Payments Inc. has a 52-week low of $95.12 and a 52-week high of $141.77. The stock has a fifty day simple moving average of $125.44 and a 200 day simple moving average of $124.72. The firm has a market cap of $27.88 billion, a P/E ratio of 21.67, a P/E/G ratio of 0.70 and a beta of 0.97. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.92 and a current ratio of 0.92.

Global Payments (NYSE:GPN - Get Free Report) last announced its quarterly earnings data on Wednesday, February 14th. The business services provider reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.64 by $0.01. The business had revenue of $2.43 billion for the quarter, compared to analysts' expectations of $2.18 billion. Global Payments had a return on equity of 11.72% and a net margin of 13.40%. The company's revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period last year, the firm earned $2.30 earnings per share. On average, research analysts anticipate that Global Payments Inc. will post 11.07 EPS for the current fiscal year.

Global Payments Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend is Friday, June 14th. Global Payments's payout ratio is currently 19.84%.

Analyst Ratings Changes

Several equities research analysts have issued reports on GPN shares. TD Cowen lowered their target price on shares of Global Payments from $160.00 to $152.00 and set a "buy" rating on the stock in a research note on Thursday, May 2nd. Robert W. Baird cut their price objective on shares of Global Payments from $182.00 to $150.00 and set an "outperform" rating for the company in a report on Thursday, May 2nd. Morgan Stanley boosted their target price on Global Payments from $160.00 to $164.00 and gave the stock an "overweight" rating in a report on Thursday, May 2nd. Mizuho reaffirmed a "neutral" rating and issued a $129.00 price target on shares of Global Payments in a report on Wednesday, March 27th. Finally, BMO Capital Markets lowered their price objective on Global Payments from $143.00 to $128.00 and set a "market perform" rating on the stock in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat, Global Payments has an average rating of "Moderate Buy" and a consensus target price of $150.00.

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.