Arcadia Investment Management Corp MI Sells 9,205 Shares of Global Payments Inc. (NYSE:GPN)

Arcadia Investment Management Corp MI cut its holdings in shares of Global Payments Inc. (NYSE:GPN) by 40.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,522 shares of the business services provider’s stock after selling 9,205 shares during the quarter. Arcadia Investment Management Corp MI’s holdings in Global Payments were worth $1,385,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Farther Finance Advisors LLC lifted its holdings in Global Payments by 295.6% during the third quarter. Farther Finance Advisors LLC now owns 724 shares of the business services provider’s stock valued at $74,000 after purchasing an additional 541 shares during the last quarter. Stephens Inc. AR lifted its holdings in Global Payments by 32.7% during the third quarter. Stephens Inc. AR now owns 5,160 shares of the business services provider’s stock valued at $528,000 after purchasing an additional 1,272 shares during the last quarter. US Bancorp DE lifted its holdings in Global Payments by 15.0% during the third quarter. US Bancorp DE now owns 47,222 shares of the business services provider’s stock valued at $4,837,000 after purchasing an additional 6,142 shares during the last quarter. 1620 Investment Advisors Inc. lifted its holdings in Global Payments by 90.9% during the third quarter. 1620 Investment Advisors Inc. now owns 1,993 shares of the business services provider’s stock valued at $204,000 after purchasing an additional 949 shares during the last quarter. Finally, First Trust Direct Indexing L.P. lifted its holdings in Global Payments by 14.3% during the third quarter. First Trust Direct Indexing L.P. now owns 6,275 shares of the business services provider’s stock valued at $643,000 after purchasing an additional 787 shares during the last quarter. 89.76% of the stock is owned by hedge funds and other institutional investors.

Global Payments Stock Up 0.7 %

Shares of NYSE GPN opened at $104.44 on Friday. Global Payments Inc. has a one year low of $91.60 and a one year high of $141.77. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.93 and a quick ratio of 0.92. The firm’s 50 day simple moving average is $104.60 and its two-hundred day simple moving average is $104.10. The stock has a market capitalization of $26.57 billion, a P/E ratio of 19.67, a PEG ratio of 0.77 and a beta of 0.97.

Global Payments (NYSE:GPN) last issued 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. Global Payments had a net margin of 13.61% and a return on equity of 11.94%. The business had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.32 billion. During the same period last year, the business earned $2.48 earnings per share. The business’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, analysts expect that Global Payments Inc. will post 11.05 EPS for the current fiscal year.

Global Payments Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend is Friday, December 13th. Global Payments’s dividend payout ratio is 18.83%.

Insider Transactions at Global Payments

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 shares were 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 in the company, valued at approximately $2,068,087.63. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.98% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on GPN. TD Cowen dropped their price objective on shares of Global Payments from $125.00 to $122.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. Barclays lowered their price target on shares of Global Payments from $145.00 to $120.00 and set an “overweight” rating on the stock in a report on Monday, September 30th. Susquehanna reissued a “positive” rating and issued a $147.00 price target on shares of Global Payments in a report on Tuesday, September 17th. Jefferies Financial Group lowered their price target on shares of Global Payments from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Global Payments from $150.00 to $140.00 and set an “outperform” rating on the stock in a report on Monday, July 8th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, Global Payments currently has an average rating of “Moderate Buy” and a consensus target price of $136.50.

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.