Prudential PLC Has $538,000 Stock Holdings in Global Payments Inc. (NYSE:GPN)

Prudential PLC lifted its holdings in shares of Global Payments Inc. (NYSE:GPN) by 89.5% in the second quarter, Holdings Channel.com reports. The fund owned 5,566 shares of the business services provider’s stock after purchasing an additional 2,629 shares during the quarter. Prudential PLC’s holdings in Global Payments were worth $538,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Adapt Wealth Advisors LLC bought a new position in Global Payments during the second quarter worth about $255,000. Caprock Group LLC boosted its stake in Global Payments by 31.0% in the 2nd quarter. Caprock Group LLC now owns 3,133 shares of the business services provider’s stock valued at $303,000 after buying an additional 741 shares in the last quarter. Acadian Asset Management LLC grew its position in Global Payments by 6,286.5% in the second quarter. Acadian Asset Management LLC now owns 79,768 shares of the business services provider’s stock valued at $7,710,000 after acquiring an additional 78,519 shares during the period. Los Angeles Capital Management LLC grew its position in Global Payments by 532.3% in the second quarter. Los Angeles Capital Management LLC now owns 12,797 shares of the business services provider’s stock valued at $1,237,000 after acquiring an additional 10,773 shares during the period. Finally, Savant Capital LLC raised its stake in Global Payments by 467.2% during the second quarter. Savant Capital LLC now owns 36,640 shares of the business services provider’s stock worth $3,543,000 after acquiring an additional 30,180 shares in the last quarter. 89.76% of the stock is currently owned by institutional investors and hedge funds.

Global Payments Stock Performance

NYSE GPN opened at $109.33 on Friday. Global Payments Inc. has a 12 month low of $91.60 and a 12 month high of $141.77. The stock has a 50-day simple moving average of $103.68 and a 200 day simple moving average of $111.07. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $27.91 billion, a PE ratio of 21.69, a P/E/G ratio of 0.69 and a beta of 0.98.

Global Payments (NYSE:GPN) last announced its quarterly earnings results on Wednesday, August 7th. The business services provider reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.90 by $0.03. The company had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.32 billion. Global Payments had a return on equity of 11.93% and a net margin of 14.26%. Global Payments’s revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.48 EPS. Research analysts forecast that Global Payments Inc. will post 11.07 EPS for the current year.

Global Payments Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be issued a $0.25 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.00 annualized dividend and a yield of 0.91%. Global Payments’s dividend payout ratio (DPR) is presently 19.84%.

Insider Transactions at Global Payments

In related news, CAO David M. Sheffield sold 1,651 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $100.73, for a total value of $166,305.23. Following the completion of the sale, the chief accounting officer now owns 20,531 shares in the company, valued at approximately $2,068,087.63. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.98% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on GPN. Keefe, Bruyette & Woods lowered their target price on shares of Global Payments from $150.00 to $140.00 and set an “outperform” rating on the stock in a report on Monday, July 8th. Royal Bank of Canada decreased their price objective on shares of Global Payments from $172.00 to $158.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Susquehanna cut their target price on shares of Global Payments from $157.00 to $147.00 and set a “positive” rating for the company in a research note on Thursday, August 8th. BNP Paribas upgraded Global Payments to a “strong sell” rating in a research report on Wednesday, September 4th. Finally, Evercore ISI dropped their price target on Global Payments from $170.00 to $160.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $140.96.

Global Payments Company Profile

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.