Global Payments Inc. (NYSE:GPN) Shares Acquired by Addenda Capital Inc.

Addenda Capital Inc. increased its holdings in Global Payments Inc. (NYSE:GPN) by 8.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 70,661 shares of the business services provider’s stock after acquiring an additional 5,265 shares during the quarter. Addenda Capital Inc.’s holdings in Global Payments were worth $6,833,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of GPN. New Covenant Trust Company N.A. acquired a new position in shares of Global Payments in the 1st quarter valued at $31,000. LRI Investments LLC acquired a new position in shares of Global Payments in the 1st quarter valued at $32,000. West Paces Advisors Inc. increased its stake in Global Payments by 54.5% in the 1st quarter. West Paces Advisors Inc. now owns 309 shares of the business services provider’s stock valued at $41,000 after buying an additional 109 shares during the period. North Star Investment Management Corp. increased its stake in Global Payments by 154.7% in the 1st quarter. North Star Investment Management Corp. now owns 354 shares of the business services provider’s stock valued at $47,000 after buying an additional 215 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its stake in Global Payments by 26.7% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 34,922 shares of the business services provider’s stock valued at $48,000 after buying an additional 7,369 shares during the period. 89.76% of the stock is 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 company’s stock in a transaction dated 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 directly owns 20,531 shares in the company, valued at approximately $2,068,087.63. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.98% of the stock is owned by insiders.

Global Payments Price Performance

Shares of Global Payments stock traded up $1.32 on Wednesday, hitting $105.08. The company’s stock had a trading volume of 2,145,489 shares, compared to its average volume of 2,307,182. Global Payments Inc. has a 52-week low of $91.60 and a 52-week high of $141.77. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.68. The firm has a fifty day moving average price of $97.63 and a 200-day moving average price of $114.74. The company has a market capitalization of $26.82 billion, a P/E ratio of 20.85, a price-to-earnings-growth ratio of 0.63 and a beta of 0.98.

Global Payments (NYSE:GPN) last released its earnings results on Wednesday, August 7th. The business services provider reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 13.40% and a return on equity of 11.72%. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the firm earned $2.48 EPS. On average, equities research analysts expect that Global Payments Inc. will post 11.09 earnings per share for the current fiscal year.

Global Payments Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be issued a $0.25 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.00 dividend on an annualized basis and a yield of 0.95%. Global Payments’s dividend payout ratio (DPR) is 19.84%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Citigroup dropped their price objective on shares of Global Payments from $163.00 to $155.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. TD Cowen dropped their price objective on shares of Global Payments from $152.00 to $125.00 and set a “buy” rating on the stock in a research note on Friday, June 21st. William Blair raised shares of Global Payments to a “strong-buy” rating in a research note on Wednesday, August 7th. KeyCorp dropped their price objective on shares of Global Payments from $155.00 to $145.00 and set an “overweight” rating on the stock in a research note on Thursday, May 2nd. Finally, BMO Capital Markets boosted their price objective on shares of Global Payments from $124.00 to $126.00 and gave the company a “market perform” rating in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Global Payments presently has a consensus rating of “Moderate Buy” and an average target price of $141.92.

Global Payments Profile

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.