Global Payments Inc. (NYSE:GPN) Shares Sold by Malaga Cove Capital LLC

Malaga Cove Capital LLC cut its holdings in shares of Global Payments Inc. (NYSE:GPN) by 1.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,179 shares of the business services provider’s stock after selling 129 shares during the quarter. Malaga Cove Capital LLC’s holdings in Global Payments were worth $984,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Lake Street Advisors Group LLC purchased a new stake in shares of Global Payments in the fourth quarter valued at approximately $210,000. Cibc World Markets Corp increased its stake in shares of Global Payments by 29.1% in the 4th quarter. Cibc World Markets Corp now owns 82,672 shares of the business services provider’s stock worth $10,499,000 after acquiring an additional 18,615 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Global Payments by 6.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 255,468 shares of the business services provider’s stock worth $32,064,000 after acquiring an additional 15,655 shares during the last quarter. Foundations Investment Advisors LLC purchased a new position in shares of Global Payments during the 4th quarter worth $212,000. Finally, CANADA LIFE ASSURANCE Co boosted its position in shares of Global Payments by 12.3% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 267,483 shares of the business services provider’s stock valued at $35,775,000 after acquiring an additional 29,289 shares during the last quarter. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Royal Bank of Canada cut their price objective on shares of Global Payments from $172.00 to $158.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. JPMorgan Chase & Co. lifted their price target on shares of Global Payments from $111.00 to $118.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Keefe, Bruyette & Woods lowered their price objective on Global Payments from $150.00 to $140.00 and set an “outperform” rating for the company in a research report on Monday, July 8th. Stephens cut their target price on Global Payments from $145.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Finally, William Blair raised Global Payments to a “strong-buy” rating in a research note on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $140.96.

Insider Transactions at Global Payments

In related news, CAO David M. Sheffield sold 1,651 shares of the 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 transaction, the chief accounting officer now owns 20,531 shares of the company’s stock, valued at $2,068,087.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.98% of the company’s stock.

Global Payments Trading Up 1.9 %

GPN opened at $110.00 on Tuesday. The business has a fifty day moving average price of $102.92 and a 200 day moving average price of $111.26. 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 12 month low of $91.60 and a 12 month high of $141.77. The stock has a market capitalization of $27.99 billion, a price-to-earnings ratio of 21.83, a PEG ratio of 0.69 and a beta of 0.98.

Global Payments (NYSE:GPN) last announced its quarterly earnings data on Wednesday, August 7th. The business services provider reported $2.93 EPS for the quarter, topping 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%. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.48 earnings per share. Sell-side analysts expect that Global Payments Inc. will post 11.07 earnings per share for the current fiscal year.

Global Payments Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.91%. 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.