Global Payments Inc. (NYSE:GPN) Shares Sold by Sei Investments Co.

Sei Investments Co. trimmed its holdings in Global Payments Inc. (NYSE:GPN) by 42.6% in the second quarter, HoldingsChannel.com reports. The firm owned 127,440 shares of the business services provider’s stock after selling 94,424 shares during the quarter. Sei Investments Co.’s holdings in Global Payments were worth $12,322,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. grew its position in shares of Global Payments by 28.2% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 14,978 shares of the business services provider’s stock valued at $1,902,000 after buying an additional 3,294 shares during the last quarter. Orion Portfolio Solutions LLC grew its holdings in shares of Global Payments by 6.2% during the fourth quarter. Orion Portfolio Solutions LLC now owns 10,634 shares of the business services provider’s stock worth $1,415,000 after purchasing an additional 621 shares during the last quarter. Advisory Services Network LLC increased its position in shares of Global Payments by 73.9% during the fourth quarter. Advisory Services Network LLC now owns 5,924 shares of the business services provider’s stock worth $752,000 after purchasing an additional 2,517 shares in the last quarter. TD Asset Management Inc lifted its holdings in shares of Global Payments by 5.3% in the 4th quarter. TD Asset Management Inc now owns 115,237 shares of the business services provider’s stock valued at $14,635,000 after purchasing an additional 5,833 shares during the last quarter. Finally, Stifel Financial Corp boosted its position in shares of Global Payments by 2.2% in the 4th quarter. Stifel Financial Corp now owns 199,336 shares of the business services provider’s stock valued at $25,317,000 after purchasing an additional 4,332 shares during the period. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

Global Payments Price Performance

Shares of NYSE:GPN opened at $101.02 on Friday. Global Payments Inc. has a 12 month low of $91.60 and a 12 month high of $141.77. The firm has a market capitalization of $25.79 billion, a price-to-earnings ratio of 20.04, a price-to-earnings-growth ratio of 0.71 and a beta of 0.98. The business’s 50 day simple moving average is $105.56 and its 200-day simple moving average is $109.52. 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 posted its earnings results on Wednesday, August 7th. The business services provider reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.90 by $0.03. The company had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.32 billion. Global Payments had a return on equity of 11.93% and a net margin of 14.26%. Global Payments’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.48 earnings per share. As a group, equities analysts forecast that Global Payments Inc. will post 11.07 earnings per share for the current fiscal year.

Global Payments Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date was Friday, September 13th. Global Payments’s payout ratio is currently 19.84%.

Wall Street Analyst Weigh In

GPN has been the topic of several research analyst reports. BTIG Research lowered Global Payments from a “buy” rating to a “neutral” rating in a research report on Wednesday. Seaport Res Ptn downgraded shares of Global Payments from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Royal Bank of Canada decreased their price target on shares of Global Payments from $172.00 to $158.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Stephens restated an “overweight” rating and issued a $130.00 price objective on shares of Global Payments in a research note on Wednesday, September 18th. Finally, Morgan Stanley decreased their target price on shares of Global Payments from $164.00 to $156.00 and set an “overweight” rating for the company in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $141.36.

Insider Buying and Selling at Global Payments

In related 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 completion of the transaction, the chief accounting officer now directly owns 20,531 shares in the company, valued at approximately $2,068,087.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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.