ClariVest Asset Management LLC decreased its stake in shares of Global Payments Inc. (NYSE:GPN) by 3.3% during the second quarter, Holdings Channel reports. The institutional investor owned 160,869 shares of the business services provider’s stock after selling 5,499 shares during the period. ClariVest Asset Management LLC’s holdings in Global Payments were worth $14,530,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Financial Architects Inc boosted its position in shares of Global Payments by 14.5% in the first quarter. Financial Architects Inc now owns 1,840 shares of the business services provider’s stock valued at $149,000 after buying an additional 233 shares in the last quarter. Morgan Dempsey Capital Management LLC boosted its position in shares of Global Payments by 86.6% in the first quarter. Morgan Dempsey Capital Management LLC now owns 2,004 shares of the business services provider’s stock valued at $162,000 after buying an additional 930 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. boosted its position in shares of Global Payments by 84.8% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,033 shares of the business services provider’s stock valued at $164,000 after buying an additional 933 shares in the last quarter. Lakeview Capital Partners LLC bought a new position in shares of Global Payments during the second quarter valued at about $200,000. Finally, IBM Retirement Fund bought a new position in shares of Global Payments during the second quarter valued at about $206,000. Institutional investors own 98.70% of the company’s stock.

Global Payments Inc. (NYSE GPN) opened at 93.31 on Friday. Global Payments Inc. has a 52 week low of $64.63 and a 52 week high of $97.99. The company has a market cap of $14.23 billion, a P/E ratio of 72.39 and a beta of 1.09. The stock has a 50 day moving average of $92.67 and a 200 day moving average of $85.23.

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

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

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Several brokerages recently issued reports on GPN. Compass Point cut shares of Global Payments from a “buy” rating to a “neutral” rating and boosted their price target for the company from $95.72 to $96.00 in a research report on Friday, August 4th. Stifel Nicolaus reiterated a “buy” rating and set a $103.00 price target (up previously from $102.00) on shares of Global Payments in a research report on Friday, August 4th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $100.00 price target on shares of Global Payments in a research report on Thursday, August 3rd. Barclays PLC boosted their price target on shares of Global Payments from $98.00 to $105.00 and gave the company an “overweight” rating in a research report on Friday, August 4th. Finally, Wells Fargo & Company upgraded shares of Global Payments from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $90.00 to $110.00 in a research report on Friday, August 4th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eighteen have assigned a buy rating to the stock. Global Payments has an average rating of “Buy” and an average price target 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 value of $498,388.52. Following the transaction, the director now owns 41,476 shares of the company’s stock, valued at approximately $3,826,575.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Alan M. Silberstein sold 600 shares of Global Payments stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $88.09, for a total transaction of $52,854.00. Following the completion of the transaction, the director now directly owns 49,093 shares in the company, valued at approximately $4,324,602.37. The disclosure for this sale can be found here. In the last ninety days, insiders sold 106,496 shares of company stock worth $10,010,366. 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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