Novare Capital Management LLC Sells 190 Shares of Global Payments Inc. (NYSE:GPN)

Novare Capital Management LLC trimmed its stake in Global Payments Inc. (NYSE:GPN) by 2.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,840 shares of the business services provider’s stock after selling 190 shares during the period. Novare Capital Management LLC’s holdings in Global Payments were worth $758,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of GPN. Global Retirement Partners LLC grew its position in Global Payments by 18.8% during the 1st quarter. Global Retirement Partners LLC now owns 524 shares of the business services provider’s stock valued at $70,000 after purchasing an additional 83 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Global Payments by 1.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 4,752 shares of the business services provider’s stock worth $635,000 after purchasing an additional 90 shares in the last quarter. Fidelis Capital Partners LLC raised its stake 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 worth $258,000 after purchasing an additional 93 shares during the last quarter. CENTRAL TRUST Co boosted its position in shares of Global Payments by 30.9% during the first quarter. CENTRAL TRUST Co now owns 453 shares of the business services provider’s stock valued at $61,000 after buying an additional 107 shares during the last quarter. Finally, Oliver Luxxe Assets LLC increased its holdings 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 buying an additional 108 shares in the last quarter. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Wells Fargo & Company began coverage on Global Payments in a report on Wednesday, June 12th. They set an “equal weight” rating and a $100.00 price target on the stock. StockNews.com cut Global Payments from a “buy” rating to a “hold” rating in a research report on Monday, June 10th. Evercore ISI lowered their price objective on shares of Global Payments from $170.00 to $160.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. Mizuho dropped their price objective on shares of Global Payments from $129.00 to $105.00 and set a “neutral” rating on the stock in a report on Wednesday, May 15th. Finally, JPMorgan Chase & Co. increased their price target 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. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $140.71.

Insider Buying and Selling

In other news, CAO David M. Sheffield sold 1,651 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, 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 Securities & Exchange Commission, which is available through the SEC website. 0.98% of the stock is currently owned by company insiders.

Global Payments Price Performance

NYSE GPN traded down $0.45 during trading on Tuesday, hitting $110.56. 278,950 shares of the stock traded hands, compared to its average volume of 2,238,859. The company has a market capitalization of $28.13 billion, a P/E ratio of 22.03, a price-to-earnings-growth ratio of 0.71 and a beta of 0.98. Global Payments Inc. has a 12-month low of $91.60 and a 12-month high of $141.77. The firm has a 50-day simple moving average of $101.55 and a 200-day simple moving average of $112.09. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.68.

Global Payments (NYSE:GPN) last announced its quarterly earnings results on Wednesday, August 7th. The business services provider reported $2.93 earnings per share for the quarter, topping 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 company had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.32 billion. During the same quarter in the previous year, the business posted $2.48 earnings per share. Global Payments’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, analysts predict that Global Payments Inc. will post 11.07 EPS for the current year.

Global Payments Announces Dividend

The firm also recently declared 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend is Friday, September 13th. Global Payments’s payout ratio is 19.84%.

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.