AMG National Trust Bank Sells 13,388 Shares of Global Payments Inc. $GPN

AMG National Trust Bank cut its stake in Global Payments Inc. (NYSE:GPN) by 43.1% in the second quarter, HoldingsChannel.com reports. The fund owned 17,684 shares of the business services provider’s stock after selling 13,388 shares during the period. AMG National Trust Bank’s holdings in Global Payments were worth $1,415,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Pzena Investment Management LLC grew its stake in shares of Global Payments by 32.6% in the second quarter. Pzena Investment Management LLC now owns 11,050,253 shares of the business services provider’s stock worth $884,462,000 after acquiring an additional 2,716,156 shares during the period. Amundi grew its position in Global Payments by 77.5% during the first quarter. Amundi now owns 2,001,585 shares of the business services provider’s stock valued at $186,107,000 after buying an additional 874,175 shares during the period. Dimensional Fund Advisors LP grew its position in Global Payments by 2.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,955,393 shares of the business services provider’s stock valued at $191,451,000 after buying an additional 49,029 shares during the period. Charles Schwab Investment Management Inc. grew its position in Global Payments by 0.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,624,288 shares of the business services provider’s stock valued at $159,050,000 after buying an additional 9,755 shares during the period. Finally, AQR Capital Management LLC grew its position in Global Payments by 6.1% during the first quarter. AQR Capital Management LLC now owns 1,458,570 shares of the business services provider’s stock valued at $140,402,000 after buying an additional 84,285 shares during the period. 89.76% of the stock is currently owned by institutional investors.

Insider Activity at Global Payments

In other news, General Counsel Dara L. Steele-Belkin sold 2,000 shares of the business’s stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $86.00, for a total value of $172,000.00. Following the transaction, the general counsel owned 30,713 shares of the company’s stock, valued at approximately $2,641,318. The trade was a 6.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.01% of the company’s stock.

Global Payments Stock Performance

GPN opened at $77.68 on Friday. The firm has a market cap of $18.85 billion, a P/E ratio of 13.58, a PEG ratio of 0.76 and a beta of 0.98. Global Payments Inc. has a 1-year low of $65.93 and a 1-year high of $120.00. The company has a 50 day simple moving average of $86.00 and a two-hundred day simple moving average of $81.72. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95.

Global Payments (NYSE:GPN) last posted its quarterly earnings results on Wednesday, August 6th. The business services provider reported $3.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.06 by $0.04. Global Payments had a net margin of 15.07% and a return on equity of 12.47%. The business had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same period in the prior year, the business posted $2.93 earnings per share. The company’s revenue was up 1.6% on a year-over-year basis. Equities analysts forecast that Global Payments Inc. will post 11.89 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

GPN has been the subject of several recent research reports. Mizuho upgraded shares of Global Payments from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $86.00 to $114.00 in a research report on Friday, July 25th. TD Cowen lowered shares of Global Payments from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 21st. B. Riley restated a “buy” rating on shares of Global Payments in a research report on Wednesday, July 16th. Wells Fargo & Company upgraded shares of Global Payments to a “strong-buy” rating in a research report on Wednesday, October 22nd. Finally, UBS Group boosted their target price on shares of Global Payments from $85.00 to $93.00 and gave the company a “neutral” rating in a research report on Thursday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and fourteen have given a Hold rating to the company’s stock. According to MarketBeat.com, Global Payments has a consensus rating of “Hold” and an average price target of $103.37.

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.