Global Payments Inc (GPN) Shares Sold by Voya Investment Management LLC
Voya Investment Management LLC lessened its stake in shares of Global Payments Inc (NYSE:GPN) by 3.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 90,591 shares of the business services provider’s stock after selling 3,629 shares during the quarter. Voya Investment Management LLC owned about 0.06% of Global Payments worth $10,100,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Fort L.P. purchased a new position in Global Payments in the second quarter worth $118,000. Signet Financial Management LLC acquired a new stake in shares of Global Payments during the second quarter valued at $134,000. Point72 Asia Hong Kong Ltd boosted its stake in shares of Global Payments by 8,133.3% during the first quarter. Point72 Asia Hong Kong Ltd now owns 1,235 shares of the business services provider’s stock valued at $138,000 after acquiring an additional 1,220 shares during the last quarter. Piedmont Investment Advisors LLC acquired a new stake in shares of Global Payments during the second quarter valued at $201,000. Finally, TLP Group LLC boosted its stake in shares of Global Payments by 3,067.2% during the first quarter. TLP Group LLC now owns 1,932 shares of the business services provider’s stock valued at $215,000 after acquiring an additional 1,871 shares during the last quarter. Institutional investors and hedge funds own 96.31% of the company’s stock.
Shares of GPN traded up $4.58 during mid-day trading on Friday, hitting $117.36. The stock had a trading volume of 2,076,996 shares, compared to its average volume of 1,042,036. The firm has a market cap of $20.15 billion, a price-to-earnings ratio of 29.27, a PEG ratio of 1.51 and a beta of 1.19. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.06. Global Payments Inc has a fifty-two week low of $95.32 and a fifty-two week high of $129.25.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 28th. Investors of record on Friday, September 14th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, September 13th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. Global Payments’s dividend payout ratio is currently 1.00%.
GPN has been the topic of a number of analyst reports. Morgan Stanley increased their price objective on Global Payments from $119.00 to $124.00 and gave the company a “$117.08” rating in a research note on Thursday, July 19th. Robert W. Baird reissued a “buy” rating and issued a $136.00 price target on shares of Global Payments in a research note on Friday, July 20th. Zacks Investment Research raised Global Payments from a “hold” rating to a “buy” rating and set a $124.00 price target on the stock in a research note on Wednesday, June 27th. Citigroup raised their price target on Global Payments from $125.00 to $136.00 and gave the stock a “buy” rating in a research note on Friday, July 13th. Finally, Guggenheim reissued a “buy” rating and issued a $123.00 price target on shares of Global Payments in a research note on Tuesday, July 24th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $119.00.
In related news, insider Cameron M. Bready sold 57,737 shares of the business’s stock in a transaction that occurred on Wednesday, September 12th. The stock was sold at an average price of $127.78, for a total transaction of $7,377,633.86. Following the completion of the transaction, the insider now owns 189,083 shares in the company, valued at approximately $24,161,025.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert H. B. Baldwin, Jr. sold 4,125 shares of Global Payments stock in a transaction on Friday, September 14th. The shares were sold at an average price of $128.76, for a total value of $531,135.00. Following the sale, the director now directly owns 83,024 shares in the company, valued at approximately $10,690,170.24. The disclosure for this sale can be found here. Insiders have sold a total of 93,430 shares of company stock valued at $11,833,594 in the last 90 days. Insiders own 0.98% of the company’s stock.
Global Payments Company Profile
Global Payments Inc provides payment technology and software solutions for credit cards, debit cards, electronic payments, and check-related services. It offers authorization services, settlement and funding services, customer support and help-desk functions, chargeback resolution, terminal rental, sales and deployment, payment security services, consolidated billing and statements, online reporting, industry compliance, and payment card industry security services.
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