Bank of Nova Scotia trimmed its position in Global Payments Inc. (NYSE:GPN) by 1.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,378 shares of the business services provider’s stock after selling 506 shares during the quarter. Bank of Nova Scotia’s holdings in Global Payments were worth $3,105,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Thompson Davis & CO. Inc. raised its stake in shares of Global Payments by 0.8% in the second quarter. Thompson Davis & CO. Inc. now owns 1,197 shares of the business services provider’s stock valued at $108,000 after purchasing an additional 10 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Global Payments by 0.3% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 11,329 shares of the business services provider’s stock worth $1,023,000 after acquiring an additional 34 shares in the last quarter. Xact Kapitalforvaltning AB raised its stake in Global Payments by 0.3% during the second quarter. Xact Kapitalforvaltning AB now owns 11,990 shares of the business services provider’s stock worth $1,083,000 after acquiring an additional 41 shares in the last quarter. First Personal Financial Services raised its stake in Global Payments by 1.7% during the second quarter. First Personal Financial Services now owns 2,875 shares of the business services provider’s stock worth $260,000 after acquiring an additional 47 shares in the last quarter. Finally, Keybank National Association OH raised its stake in Global Payments by 1.5% during the second quarter. Keybank National Association OH now owns 3,792 shares of the business services provider’s stock worth $342,000 after acquiring an additional 56 shares in the last quarter. Institutional investors and hedge funds own 97.80% of the company’s stock.

Global Payments Inc. (NYSE GPN) opened at 96.87 on Thursday. The firm’s 50-day moving average price is $96.48 and its 200-day moving average price is $91.04. The company has a market cap of $14.77 billion, a PE ratio of 75.15 and a beta of 1.11. Global Payments Inc. has a one year low of $64.63 and a one year high of $100.34.

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 analysts’ consensus estimates of $0.87 by $0.07. Global Payments had a return on equity of 18.32% and a net margin of 6.65%. The firm had revenue of $847.90 million for the quarter, compared to analyst estimates of $837.76 million. During the same quarter in the previous year, the company posted $0.76 EPS. The business’s revenue was up 18.4% on a year-over-year basis. On average, equities research analysts forecast that Global Payments Inc. will post $3.96 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were given a $0.01 dividend. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.04%. Global Payments’s dividend payout ratio (DPR) is presently 2.45%.

Several research analysts have issued reports on the company. Robert W. Baird reiterated a “buy” rating and set a $106.00 price objective on shares of Global Payments in a research note on Tuesday, September 5th. Royal Bank Of Canada dropped their price objective on Global Payments from $103.00 to $90.00 and set an “outperform” rating for the company in a research note on Friday, August 4th. Stifel Nicolaus reiterated a “buy” rating and set a $103.00 price objective (up from $102.00) on shares of Global Payments in a research note on Friday, August 4th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $100.00 price objective on shares of Global Payments in a research note on Thursday, August 3rd. Finally, William Blair reiterated an “outperform” rating on shares of Global Payments in a research note on Monday, July 24th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-two have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $100.32.

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In other Global Payments news, Director Robert H. B. Baldwin, Jr. sold 26,000 shares of the company’s stock in a transaction dated Thursday, October 12th. The stock was sold at an average price of $99.82, for a total value of $2,595,320.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director William I. Jacobs sold 600 shares of the company’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $94.20, for a total value of $56,520.00. Following the completion of the sale, the director now owns 49,103 shares in the company, valued at approximately $4,625,502.60. The disclosure for this sale can be found here. Insiders sold a total of 162,949 shares of company stock worth $15,589,907 in the last quarter. Corporate insiders own 0.93% of the company’s stock.

About Global Payments

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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