Global Payments Inc. (NYSE:GPN) Shares Sold by Front Street Capital Management Inc.

Front Street Capital Management Inc. lessened its stake in shares of Global Payments Inc. (NYSE:GPN) by 0.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 66,600 shares of the business services provider’s stock after selling 211 shares during the period. Global Payments comprises 1.2% of Front Street Capital Management Inc.’s investment portfolio, making the stock its 21st largest holding. Front Street Capital Management Inc.’s holdings in Global Payments were worth $6,440,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of GPN. New Covenant Trust Company N.A. acquired a new stake in shares of Global Payments in the 1st quarter valued at $31,000. LRI Investments LLC acquired a new position in shares of Global Payments during the 1st quarter worth about $32,000. POM Investment Strategies LLC bought a new stake in shares of Global Payments in the 2nd quarter worth approximately $32,000. West Paces Advisors Inc. lifted its position in shares of Global Payments by 54.5% in the 1st quarter. West Paces Advisors Inc. now owns 309 shares of the business services provider’s stock worth $41,000 after acquiring an additional 109 shares during the period. Finally, North Star Investment Management Corp. lifted its position in shares of Global Payments by 154.7% in the 1st quarter. North Star Investment Management Corp. now owns 354 shares of the business services provider’s stock worth $47,000 after acquiring an additional 215 shares during the period. Institutional investors and hedge funds own 89.76% of the company’s stock.

Global Payments Trading Up 0.3 %

Shares of Global Payments stock opened at $110.99 on Tuesday. Global Payments Inc. has a 1 year low of $91.60 and a 1 year high of $141.77. The firm has a market cap of $28.33 billion, a PE ratio of 22.02, a PEG ratio of 0.70 and a beta of 0.98. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.92 and a quick ratio of 0.92. The company has a 50 day simple moving average of $105.75 and a two-hundred day simple moving average of $109.88.

Global Payments (NYSE:GPN) last announced its 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. Global Payments had a net margin of 14.26% and a return on equity of 11.93%. The business had revenue of $2.57 billion during the quarter, compared to analyst estimates of $2.32 billion. During the same period in the previous year, the business posted $2.48 earnings per share. Global Payments’s revenue for the quarter was up 4.7% on a year-over-year basis. Analysts expect that Global Payments Inc. will post 11.07 earnings per share for the current fiscal year.

Global Payments Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a $0.25 dividend. 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 presently 19.84%.

Insider Activity

In other Global Payments news, CAO David M. Sheffield sold 1,651 shares of the firm’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 sale, the chief accounting officer now owns 20,531 shares of the company’s stock, valued at approximately $2,068,087.63. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.98% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

GPN has been the subject of a number of recent analyst reports. 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. TD Cowen lowered 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. Keefe, Bruyette & Woods decreased their price objective on Global Payments from $150.00 to $140.00 and set an “outperform” rating on the stock in a report on Monday, July 8th. William Blair raised shares of Global Payments to a “strong-buy” rating in a research report on Wednesday, August 7th. Finally, Wells Fargo & Company assumed coverage on shares of Global Payments in a research report on Wednesday, June 12th. They set an “equal weight” rating and a $100.00 price objective for the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Global Payments presently has a consensus rating of “Moderate Buy” and a consensus target price of $142.59.

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.