Nisa Investment Advisors LLC Has $9.33 Million Stock Position in Global Payments Inc. (NYSE:GPN)

Nisa Investment Advisors LLC reduced its holdings in shares of Global Payments Inc. (NYSE:GPN) by 2.3% in the 3rd quarter, Holdings Channel.com reports. The fund owned 91,088 shares of the business services provider’s stock after selling 2,170 shares during the period. Nisa Investment Advisors LLC’s holdings in Global Payments were worth $9,329,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. State of Alaska Department of Revenue increased its stake in Global Payments by 6.5% in the 3rd quarter. State of Alaska Department of Revenue now owns 29,558 shares of the business services provider’s stock valued at $3,027,000 after buying an additional 1,800 shares during the last quarter. Frank Rimerman Advisors LLC grew its holdings in shares of Global Payments by 5.2% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 3,641 shares of the business services provider’s stock valued at $373,000 after acquiring an additional 179 shares in the last quarter. DekaBank Deutsche Girozentrale increased its position in shares of Global Payments by 10.3% in the third quarter. DekaBank Deutsche Girozentrale now owns 68,277 shares of the business services provider’s stock valued at $6,874,000 after acquiring an additional 6,370 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Global Payments by 26.9% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 18,896 shares of the business services provider’s stock valued at $1,935,000 after acquiring an additional 4,002 shares during the last quarter. Finally, PFG Investments LLC raised its holdings in Global Payments by 30.3% during the third quarter. PFG Investments LLC now owns 3,374 shares of the business services provider’s stock worth $346,000 after acquiring an additional 784 shares in the last quarter. 89.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Global Payments

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 stock was 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.98% of the company’s stock.

Global Payments Price Performance

Shares of NYSE GPN opened at $103.37 on Thursday. The business has a fifty day moving average price of $104.84 and a two-hundred day moving average price of $104.37. The stock has a market capitalization of $26.39 billion, a PE ratio of 20.51, a P/E/G ratio of 0.74 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. Global Payments Inc. has a fifty-two week low of $91.60 and a fifty-two week high of $141.77.

Global Payments (NYSE:GPN) last posted its quarterly earnings results on Wednesday, August 7th. The business services provider reported $2.93 EPS 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 return on equity of 11.93% and a net margin of 14.26%. Global Payments’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.48 earnings per share. As a group, equities analysts predict that Global Payments Inc. will post 11.06 earnings per share for the current fiscal year.

Global Payments Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.97%. Global Payments’s dividend payout ratio (DPR) is 19.84%.

Analysts Set New Price Targets

GPN has been the subject of a number of analyst reports. Stephens decreased their price target on Global Payments from $130.00 to $125.00 and set an “overweight” rating for the company in a research note on Friday, October 18th. KeyCorp lowered their target price 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. William Blair cut shares of Global Payments from an “outperform” rating to a “market perform” rating in a research note on Wednesday, September 25th. Oppenheimer started coverage on shares of Global Payments in a research note on Tuesday, October 1st. They set a “market perform” rating on the stock. Finally, JPMorgan Chase & Co. dropped their target price on shares of Global Payments from $118.00 to $115.00 and set a “neutral” rating on the stock in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $137.52.

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.