Global Payments Inc. (NYSE:GPN) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. lowered its position in shares of Global Payments Inc. (NYSE:GPN) by 1.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 670,110 shares of the business services provider’s stock after selling 9,779 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.26% of Global Payments worth $89,567,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of GPN. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Global Payments during the 4th quarter valued at approximately $30,000. McGlone Suttner Wealth Management Inc. bought a new stake in Global Payments during the fourth quarter valued at $41,000. West Paces Advisors Inc. raised its holdings in shares of Global Payments by 54.5% during the first quarter. West Paces Advisors Inc. now owns 309 shares of the business services provider’s stock worth $41,000 after purchasing an additional 109 shares during the period. Robeco Institutional Asset Management B.V. lifted its position in shares of Global Payments by 26.7% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 34,922 shares of the business services provider’s stock worth $48,000 after buying an additional 7,369 shares during the last quarter. Finally, CVA Family Office LLC acquired a new position in shares of Global Payments in the 4th quarter valued at about $50,000. Institutional investors own 89.76% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on GPN shares. KeyCorp dropped their price objective on shares of Global Payments from $155.00 to $145.00 and set an “overweight” rating on the stock in a research note on Thursday, May 2nd. Keefe, Bruyette & Woods cut their price target on Global Payments from $158.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday, May 2nd. Evercore ISI reduced their price objective on Global Payments from $170.00 to $160.00 and set an “outperform” rating for the company in a research report on Tuesday, June 25th. TD Cowen dropped their target price on Global Payments from $152.00 to $125.00 and set a “buy” rating on the stock in a research report on Friday, June 21st. Finally, Mizuho reduced their price target on shares of Global Payments from $129.00 to $105.00 and set a “neutral” rating for the company in a report on Wednesday, May 15th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $145.68.

Insider Activity

In related news, VP Andrea M. Carter sold 3,300 shares of the business’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $111.34, for a total transaction of $367,422.00. Following the completion of the transaction, the vice president now owns 25,209 shares of the company’s stock, valued at approximately $2,806,770.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.98% of the stock is currently owned by company insiders.

Global Payments Price Performance

Shares of NYSE:GPN opened at $96.59 on Friday. The firm has a market cap of $24.65 billion, a price-to-earnings ratio of 19.16, a P/E/G ratio of 0.62 and a beta of 0.98. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.68. Global Payments Inc. has a 1 year low of $91.60 and a 1 year high of $141.77. The business has a fifty day simple moving average of $103.33 and a 200 day simple moving average of $120.88.

Global Payments (NYSE:GPN) last announced its quarterly earnings results on Wednesday, May 1st. The business services provider reported $2.48 EPS for the quarter, beating the consensus estimate of $2.41 by $0.07. Global Payments had a return on equity of 11.72% and a net margin of 13.40%. The company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.17 billion. As a group, sell-side analysts predict that Global Payments Inc. will post 11.09 earnings per share for the current fiscal year.

Global Payments Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date was Friday, June 14th. Global Payments’s dividend payout ratio (DPR) is 19.84%.

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.