New York State Common Retirement Fund Has $15.95 Million Stock Holdings in Global Payments Inc. (NYSE:GPN)

New York State Common Retirement Fund lowered its position in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 12.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 155,763 shares of the business services provider's stock after selling 22,866 shares during the quarter. New York State Common Retirement Fund owned 0.06% of Global Payments worth $15,953,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in GPN. Pzena Investment Management LLC raised its holdings in shares of Global Payments by 194.2% during the second quarter. Pzena Investment Management LLC now owns 6,423,463 shares of the business services provider's stock worth $621,149,000 after acquiring an additional 4,240,388 shares during the period. Boston Partners lifted its holdings in shares of Global Payments by 0.3% in the first quarter. Boston Partners now owns 4,797,677 shares of the business services provider's stock valued at $639,967,000 after purchasing an additional 12,196 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Global Payments by 10.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,957,914 shares of the business services provider's stock worth $189,307,000 after buying an additional 193,137 shares during the period. Davis Asset Management L.P. boosted its position in Global Payments by 18.2% during the 2nd quarter. Davis Asset Management L.P. now owns 1,300,000 shares of the business services provider's stock worth $125,710,000 after acquiring an additional 200,000 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of Global Payments by 188.1% during the 2nd quarter. AQR Capital Management LLC now owns 1,157,728 shares of the business services provider's stock worth $109,857,000 after acquiring an additional 755,898 shares in the last quarter. Institutional investors and hedge funds own 89.76% of the company's stock.

Global Payments Price Performance

Global Payments stock traded up $7.67 during trading hours on Wednesday, reaching $115.04. 3,809,099 shares of the stock were exchanged, compared to its average volume of 2,292,698. The stock has a 50 day moving average of $104.58 and a two-hundred day moving average of $103.83. The company has a market cap of $29.28 billion, a P/E ratio of 21.66, a price-to-earnings-growth ratio of 0.80 and a beta of 0.97. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65. Global Payments Inc. has a twelve month low of $91.60 and a twelve month high of $141.77.

Global Payments (NYSE:GPN - Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The business services provider reported $2.93 EPS for the quarter, beating the consensus estimate 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 net margin of 13.61% and a return on equity of 11.94%. The company's revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the business earned $2.48 earnings per share. Equities analysts expect that Global Payments Inc. will post 11.05 EPS for the current fiscal year.

Global Payments Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, December 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.87%. Global Payments's payout ratio is presently 18.83%.

Insider Activity

In other Global Payments news, CAO David M. Sheffield sold 1,651 shares of the stock in a transaction dated 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 transaction, the chief accounting officer now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.98% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on GPN shares. Susquehanna restated a "positive" rating and set a $147.00 target price on shares of Global Payments in a report on Tuesday, September 17th. KeyCorp lowered their target price on Global Payments from $145.00 to $135.00 and set an "overweight" rating on the stock in a research report on Wednesday, September 25th. BNP Paribas raised Global Payments to a "strong sell" rating in a research report on Wednesday, September 4th. BTIG Research lowered Global Payments from a "buy" rating to a "neutral" rating in a research report on Wednesday, September 25th. Finally, William Blair cut Global Payments from an "outperform" rating to a "market perform" rating in a research note on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $136.50.

Global Payments Company 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.