TD Asset Management Inc. reduced its stake in shares of Global Payments Inc. (NYSE:GPN) by 6.4% during the second quarter, Holdings Channel reports. The fund owned 232,094 shares of the business services provider’s stock after selling 15,867 shares during the period. TD Asset Management Inc.’s holdings in Global Payments were worth $20,963,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP increased its position in shares of Global Payments by 0.8% in the first quarter. Wellington Management Group LLP now owns 16,940,401 shares of the business services provider’s stock valued at $1,366,752,000 after buying an additional 126,712 shares during the last quarter. FMR LLC increased its position in shares of Global Payments by 12.4% in the first quarter. FMR LLC now owns 14,898,661 shares of the business services provider’s stock valued at $1,202,023,000 after buying an additional 1,647,907 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Global Payments by 2.4% in the first quarter. Vanguard Group Inc. now owns 14,762,938 shares of the business services provider’s stock valued at $1,191,073,000 after buying an additional 341,212 shares during the last quarter. BlackRock Inc. increased its position in shares of Global Payments by 3,093.1% in the first quarter. BlackRock Inc. now owns 13,529,075 shares of the business services provider’s stock valued at $1,091,527,000 after buying an additional 13,105,378 shares during the last quarter. Finally, State Street Corp increased its position in shares of Global Payments by 1.1% in the first quarter. State Street Corp now owns 5,989,099 shares of the business services provider’s stock valued at $483,201,000 after buying an additional 63,278 shares during the last quarter. Institutional investors and hedge funds own 98.70% of the company’s stock.

Global Payments Inc. (GPN) opened at 93.31 on Friday. Global Payments Inc. has a 1-year low of $64.63 and a 1-year high of $97.99. The stock’s 50 day moving average price is $92.67 and its 200-day moving average price is $85.23. The company has a market cap of $14.23 billion, a PE ratio of 72.39 and a beta of 1.09.

Global Payments (NYSE:GPN) last released its quarterly earnings results on Thursday, August 3rd. The business services provider reported $0.94 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.07. The firm had revenue of $847.90 million for the quarter, compared to analyst estimates of $837.76 million. Global Payments had a net margin of 6.65% and a return on equity of 18.32%. The business’s revenue for the quarter was up 18.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.76 EPS. On average, analysts forecast that Global Payments Inc. will post $3.95 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.04%. The ex-dividend date of this dividend is Thursday, September 14th. Global Payments’s payout ratio is presently 3.07%.

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A number of equities research analysts recently commented on GPN shares. Royal Bank Of Canada reiterated a “buy” rating and issued a $90.00 target price on shares of Global Payments in a research report on Monday, May 15th. Barclays PLC boosted their target price on Global Payments from $98.00 to $105.00 and gave the stock an “overweight” rating in a research report on Friday, August 4th. Credit Suisse Group reiterated an “outperform” rating and issued a $97.00 target price (up from $91.00) on shares of Global Payments in a research report on Thursday, July 13th. Instinet reiterated a “reduce” rating and issued a $79.00 target price (up from $70.00) on shares of Global Payments in a research report on Wednesday, May 17th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating on shares of Global Payments in a research report on Monday, May 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. Global Payments presently has an average rating of “Buy” and a consensus target price of $94.58.

In other news, Director Ruth Ann Marshall sold 5,402 shares of Global Payments stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $92.26, for a total transaction of $498,388.52. Following the sale, the director now owns 41,476 shares of the company’s stock, valued at approximately $3,826,575.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director William I. Jacobs sold 600 shares of Global Payments stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $87.72, for a total transaction of $52,632.00. Following the sale, the director now directly owns 42,475 shares in the company, valued at approximately $3,725,907. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 106,496 shares of company stock worth $10,010,366. Corporate insiders own 0.93% of the company’s stock.

Global Payments Company Profile

Global Payments Inc is a provider of payment technology services. The Company provides payment and digital commerce solutions. The Company operates through three segments: North America, Europe and Asia-Pacific. The Company’s segments primarily provide payment solutions for credit cards, debit cards, electronic payments and check-related services.

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Institutional Ownership by Quarter for Global Payments (NYSE:GPN)

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