Livforsakringsbolaget Skandia Omsesidigt Grows Holdings in Global Payments Inc. (NYSE:GPN)

Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Global Payments Inc. (NYSE:GPN) by 247.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,961 shares of the business services provider’s stock after buying an additional 1,397 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Global Payments were worth $201,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Pzena Investment Management LLC raised its holdings in shares of Global Payments by 194.2% in the 2nd quarter. Pzena Investment Management LLC now owns 6,423,463 shares of the business services provider’s stock valued at $621,149,000 after acquiring an additional 4,240,388 shares in the last quarter. Boston Partners lifted its holdings in Global Payments by 0.3% in the 1st quarter. Boston Partners now owns 4,797,677 shares of the business services provider’s stock worth $639,967,000 after buying an additional 12,196 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Global Payments by 10.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,957,914 shares of the business services provider’s stock valued at $189,307,000 after purchasing an additional 193,137 shares in the last quarter. Davis Asset Management L.P. grew its stake in Global Payments by 18.2% in the second quarter. Davis Asset Management L.P. now owns 1,300,000 shares of the business services provider’s stock worth $125,710,000 after purchasing an additional 200,000 shares during the period. Finally, AQR Capital Management LLC increased its stake in shares of Global Payments by 188.1% during the second quarter. AQR Capital Management LLC now owns 1,157,728 shares of the business services provider’s stock valued at $109,857,000 after purchasing an additional 755,898 shares in the last quarter. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Global Payments Stock Up 2.0 %

GPN opened at $102.63 on Tuesday. The firm has a market cap of $26.20 billion, a P/E ratio of 20.36, a PEG ratio of 0.74 and a beta of 0.98. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.68. The business’s fifty day simple moving average is $105.69 and its 200 day simple moving average is $106.45. Global Payments Inc. has a 52 week low of $91.60 and a 52 week high of $141.77.

Global Payments (NYSE:GPN) last released its earnings results on Wednesday, August 7th. The business services provider reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.90 by $0.03. Global Payments had a return on equity of 11.93% and a net margin of 14.26%. The firm had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same period in the prior year, the business posted $2.48 earnings per share. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Global Payments Inc. will post 11.07 EPS for the current fiscal year.

Global Payments Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.00 annualized dividend and a yield of 0.97%. Global Payments’s dividend payout ratio is currently 19.84%.

Insider Activity at Global Payments

In other Global Payments news, CAO David M. Sheffield sold 1,651 shares of Global Payments stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $100.73, for a total transaction of $166,305.23. Following the sale, the chief accounting officer now directly owns 20,531 shares in the company, valued at $2,068,087.63. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.98% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Monness Crespi & Hardt dropped their target price on Global Payments from $165.00 to $155.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. B. Riley lowered their price target on Global Payments from $204.00 to $194.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. William Blair lowered Global Payments from an “outperform” rating to a “market perform” rating in a research report on Wednesday, September 25th. StockNews.com cut shares of Global Payments from a “buy” rating to a “hold” rating in a research report on Thursday, September 26th. Finally, Stephens reaffirmed an “overweight” rating and issued a $130.00 price objective on shares of Global Payments in a research note on Wednesday, September 18th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $139.55.

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.