Capital Investment Advisors LLC Sells 200 Shares of Global Payments Inc. (NYSE:GPN)

Capital Investment Advisors LLC lowered its position in shares of Global Payments Inc. (NYSE:GPN) by 9.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,971 shares of the business services provider’s stock after selling 200 shares during the quarter. Capital Investment Advisors LLC’s holdings in Global Payments were worth $202,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of GPN. Stanley Capital Management LLC increased its position in shares of Global Payments by 18.9% in the 2nd quarter. Stanley Capital Management LLC now owns 125,608 shares of the business services provider’s stock valued at $12,146,000 after buying an additional 20,000 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in shares of Global Payments by 12.3% in the first quarter. CANADA LIFE ASSURANCE Co now owns 267,483 shares of the business services provider’s stock worth $35,775,000 after acquiring an additional 29,289 shares in the last quarter. LRI Investments LLC acquired a new stake in shares of Global Payments during the first quarter worth about $32,000. State Board of Administration of Florida Retirement System lifted its holdings in shares of Global Payments by 8.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 302,364 shares of the business services provider’s stock valued at $40,414,000 after purchasing an additional 24,415 shares in the last quarter. Finally, Gradient Investments LLC grew its position in shares of Global Payments by 20.6% in the 2nd quarter. Gradient Investments LLC now owns 172,939 shares of the business services provider’s stock valued at $16,723,000 after purchasing an additional 29,503 shares during the period. 89.76% of the stock is currently owned by institutional investors and hedge funds.

Global Payments Stock Performance

GPN opened at $99.30 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.68. Global Payments Inc. has a 12-month low of $91.60 and a 12-month high of $141.77. The business has a 50 day moving average of $105.79 and a 200-day moving average of $105.30. The stock has a market cap of $25.35 billion, a price-to-earnings ratio of 19.70, a PEG ratio of 0.74 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.90 by $0.03. The business had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.32 billion. Global Payments had a return on equity of 11.93% and a net margin of 14.26%. The company’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.48 EPS. On average, equities research analysts expect that Global Payments Inc. will post 11.07 earnings per share for the current year.

Global Payments Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders 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 1.01%. Global Payments’s dividend payout ratio is currently 19.84%.

Insider Buying and Selling at Global Payments

In other news, CAO David M. Sheffield sold 1,651 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $100.73, for a total value of $166,305.23. Following the transaction, the chief accounting officer now owns 20,531 shares of the company’s stock, valued at approximately $2,068,087.63. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. TD Cowen dropped their target price on shares of Global Payments from $125.00 to $122.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. KeyCorp dropped their price objective on shares of Global Payments from $145.00 to $135.00 and set an “overweight” rating on the stock in a report on Wednesday, September 25th. BMO Capital Markets reduced their target price on shares of Global Payments from $126.00 to $122.00 and set a “market perform” rating for the company in a research note on Wednesday, September 25th. Keefe, Bruyette & Woods dropped their price target on Global Payments from $150.00 to $140.00 and set an “outperform” rating on the stock in a research note on Monday, July 8th. Finally, Susquehanna restated a “positive” rating and issued a $147.00 price target on shares of Global Payments in a report on Tuesday, September 17th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $137.65.

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.