Mirae Asset Global Investments Co. Ltd. Cuts Stock Position in Global Payments Inc. (NYSE:GPN)

Mirae Asset Global Investments Co. Ltd. trimmed its holdings in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 10.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 46,868 shares of the business services provider's stock after selling 5,639 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Global Payments were worth $4,735,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Stanley Capital Management LLC lifted its stake in Global Payments by 18.9% during the 2nd quarter. Stanley Capital Management LLC now owns 125,608 shares of the business services provider's stock valued at $12,146,000 after acquiring an additional 20,000 shares during the period. CANADA LIFE ASSURANCE Co increased its holdings 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 purchasing an additional 29,289 shares in the last quarter. LRI Investments LLC purchased a new position in shares of Global Payments during the 1st quarter valued at approximately $32,000. State Board of Administration of Florida Retirement System increased its holdings in shares of Global Payments by 8.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 302,364 shares of the business services provider's stock valued at $40,414,000 after purchasing an additional 24,415 shares in the last quarter. Finally, Gradient Investments LLC increased its holdings in shares of Global Payments by 20.6% during the 2nd quarter. Gradient Investments LLC now owns 172,939 shares of the business services provider's stock valued at $16,723,000 after purchasing an additional 29,503 shares in the last quarter. 89.76% of the stock is currently owned by institutional investors and hedge funds.

Global Payments Trading Down 2.7 %

Shares of GPN stock traded down $2.71 on Tuesday, hitting $99.05. 2,264,476 shares of the stock traded hands, compared to its average volume of 2,257,984. The firm's 50-day moving average price is $105.15 and its two-hundred day moving average price is $104.55. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a market capitalization of $25.28 billion, a PE ratio of 19.92, a PEG ratio of 0.74 and a beta of 0.98. 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 posted its 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 14.26% and a return on equity of 11.93%. The company had revenue of $2.57 billion for the quarter, compared to analysts' expectations of $2.32 billion. During the same quarter in the prior year, the company posted $2.48 earnings per share. Global Payments's revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, analysts anticipate that Global Payments Inc. will post 11.06 EPS for the current year.

Global Payments Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a $0.25 dividend. The ex-dividend date was Friday, September 13th. This represents a $1.00 dividend on an annualized basis and a yield of 1.01%. Global Payments's payout ratio is currently 19.84%.

Analyst Ratings Changes

GPN has been the subject of several recent research reports. Susquehanna reaffirmed a "positive" rating and set a $147.00 target price on shares of Global Payments in a report on Tuesday, September 17th. BMO Capital Markets cut their target price on shares of Global Payments from $126.00 to $122.00 and set a "market perform" rating for the company in a report on Wednesday, September 25th. Barclays cut their target price on shares of Global Payments from $145.00 to $120.00 and set an "overweight" rating for the company in a report on Monday, September 30th. Keefe, Bruyette & Woods cut their price target on shares of Global Payments from $150.00 to $140.00 and set an "outperform" rating for the company in a report on Monday, July 8th. Finally, JPMorgan Chase & Co. cut their price target on shares of Global Payments from $118.00 to $115.00 and set a "neutral" rating for the company in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and sixteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $137.52.

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 owns 20,531 shares of the company's stock, valued at $2,068,087.63. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.98% of the stock is currently owned by corporate insiders.

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.