Envestnet Asset Management Inc. Has $63.09 Million Position in Global Payments Inc. (NYSE:GPN)

Envestnet Asset Management Inc. boosted its position in Global Payments Inc. (NYSE:GPN) by 2.8% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 652,394 shares of the business services provider’s stock after buying an additional 17,597 shares during the period. Envestnet Asset Management Inc.’s holdings in Global Payments were worth $63,086,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GPN. Janney Montgomery Scott LLC grew its stake in shares of Global Payments by 67.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 25,716 shares of the business services provider’s stock valued at $3,266,000 after acquiring an additional 10,330 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its position in shares of Global Payments by 26.7% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 34,922 shares of the business services provider’s stock valued at $48,000 after buying an additional 7,369 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Global Payments in the fourth quarter valued at approximately $587,000. Gladstone Institutional Advisory LLC boosted its stake in shares of Global Payments by 9.9% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 2,060 shares of the business services provider’s stock valued at $262,000 after buying an additional 186 shares during the period. Finally, Coldstream Capital Management Inc. grew its position in Global Payments by 6.9% during the fourth quarter. Coldstream Capital Management Inc. now owns 2,656 shares of the business services provider’s stock worth $337,000 after buying an additional 171 shares in the last quarter. 89.76% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

GPN has been the subject of several analyst reports. Wells Fargo & Company started coverage on Global Payments in a report on Wednesday, June 12th. They issued an “equal weight” rating and a $100.00 price objective for the company. BMO Capital Markets upped their price objective on shares of Global Payments from $124.00 to $126.00 and gave the stock a “market perform” rating in a research report on Thursday, August 8th. Keefe, Bruyette & Woods decreased 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. Stephens restated an “overweight” rating and issued a $130.00 target price on shares of Global Payments in a research report on Wednesday. Finally, William Blair upgraded shares of Global Payments to a “strong-buy” rating in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, five have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $142.59.

Global Payments Stock Performance

Global Payments stock opened at $111.26 on Thursday. The business has a 50 day moving average of $104.93 and a 200-day moving average of $110.37. The company has a market capitalization of $28.40 billion, a P/E ratio of 22.08, a P/E/G ratio of 0.70 and a beta of 0.98. Global Payments Inc. has a 1 year low of $91.60 and a 1 year high of $141.77. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.92 and a quick ratio of 0.92.

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 firm had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.32 billion. Global Payments had a net margin of 14.26% and a return on equity of 11.93%. The company’s revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the company posted $2.48 EPS. On average, equities research analysts predict that Global Payments Inc. will post 11.07 earnings per share for the current year.

Global Payments Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.90%. The ex-dividend date is Friday, September 13th. Global Payments’s dividend payout ratio is currently 19.84%.

Insiders Place Their Bets

In other news, CAO David M. Sheffield sold 1,651 shares of the stock in a transaction dated Thursday, August 8th. The stock was 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 of the company’s stock, valued at $2,068,087.63. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.98% of the company’s stock.

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.