Toronto Dominion Bank Sells 23,758 Shares of Global Payments Inc. (NYSE:GPN)

Toronto Dominion Bank lowered its position in shares of Global Payments Inc. (NYSE:GPN) by 6.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 336,262 shares of the business services provider’s stock after selling 23,758 shares during the quarter. Toronto Dominion Bank’s holdings in Global Payments were worth $32,517,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Fidelis Capital Partners LLC boosted its position in shares of Global Payments by 5.1% in the first quarter. Fidelis Capital Partners LLC now owns 1,930 shares of the business services provider’s stock valued at $258,000 after acquiring an additional 93 shares during the period. Oliver Luxxe Assets LLC raised its stake in Global Payments by 0.3% in the 1st quarter. Oliver Luxxe Assets LLC now owns 34,435 shares of the business services provider’s stock worth $4,603,000 after purchasing an additional 108 shares in the last quarter. West Paces Advisors Inc. grew its position in shares of Global Payments by 54.5% during the 1st quarter. West Paces Advisors Inc. now owns 309 shares of the business services provider’s stock worth $41,000 after purchasing an additional 109 shares in the last quarter. KFG Wealth Management LLC increased its holdings in shares of Global Payments by 6.4% during the first quarter. KFG Wealth Management LLC now owns 1,883 shares of the business services provider’s stock worth $252,000 after purchasing an additional 114 shares during the period. Finally, Wedmont Private Capital raised its position in shares of Global Payments by 0.9% in the first quarter. Wedmont Private Capital now owns 13,859 shares of the business services provider’s stock valued at $1,776,000 after buying an additional 119 shares in the last quarter. 89.76% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. BNP Paribas upgraded Global Payments to a “strong sell” rating in a research note on Wednesday, September 4th. Wells Fargo & Company assumed coverage on Global Payments in a research report on Wednesday, June 12th. They issued an “equal weight” rating and a $100.00 price target on the stock. JPMorgan Chase & Co. upped their price objective on shares of Global Payments from $111.00 to $118.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Evercore ISI decreased their target price on shares of Global Payments from $170.00 to $160.00 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. Finally, Morgan Stanley cut their price target on shares of Global Payments from $164.00 to $156.00 and set an “overweight” rating for the company in a report on Wednesday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Global Payments has an average rating of “Moderate Buy” and a consensus target price of $141.36.

Insider Activity at Global Payments

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

Global Payments Trading Down 6.5 %

Shares of GPN stock opened at $97.06 on Thursday. The stock has a 50-day moving average of $105.76 and a 200-day moving average of $109.70. 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 stock has a market cap of $24.70 billion, a price-to-earnings ratio of 19.26, a PEG ratio of 0.71 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.

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, beating analysts’ consensus estimates 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 net margin of 14.26% and a return on equity of 11.93%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.48 EPS. On average, equities research analysts forecast that Global Payments Inc. will post 11.07 earnings per share for the current year.

Global Payments Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.00 annualized dividend and a yield of 1.03%. Global Payments’s payout ratio is 19.84%.

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.