Tiverton Asset Management LLC lowered its position in Global Payments Inc (NYSE:GPN) by 60.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,410 shares of the business services provider’s stock after selling 3,746 shares during the period. Tiverton Asset Management LLC’s holdings in Global Payments were worth $386,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Lenox Wealth Advisors LLC acquired a new stake in Global Payments during the second quarter worth about $25,000. Next Capital Management LLC acquired a new stake in Global Payments in the 2nd quarter worth $25,000. Citizens Financial Group Inc RI bought a new position in shares of Global Payments during the 2nd quarter worth about $27,000. Cornerstone Advisors Inc. increased its holdings in shares of Global Payments by 114.9% during the 1st quarter. Cornerstone Advisors Inc. now owns 202 shares of the business services provider’s stock worth $28,000 after purchasing an additional 108 shares during the period. Finally, Berman Capital Advisors LLC raised its position in shares of Global Payments by 317.5% during the first quarter. Berman Capital Advisors LLC now owns 238 shares of the business services provider’s stock valued at $32,000 after buying an additional 181 shares during the last quarter. 97.07% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Director Alan M. Silberstein sold 700 shares of the stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $157.95, for a total value of $110,565.00. Following the transaction, the director now directly owns 40,163 shares of the company’s stock, valued at $6,343,745.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Guido Francesco Sacchi sold 10,450 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $159.44, for a total transaction of $1,666,148.00. Following the completion of the transaction, the executive vice president now directly owns 47,916 shares in the company, valued at $7,639,727.04. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,410 shares of company stock worth $5,667,534. Company insiders own 0.88% of the company’s stock.

GPN has been the topic of a number of recent research reports. Bank of America lifted their target price on Global Payments from $160.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday, June 17th. BMO Capital Markets cut Global Payments from an “outperform” rating to a “market perform” rating and upped their price target for the company from $164.00 to $173.00 in a report on Wednesday, May 29th. Susquehanna Bancshares set a $200.00 price objective on Global Payments and gave the stock a “buy” rating in a research report on Friday, July 26th. Piper Jaffray Companies set a $195.00 price objective on Global Payments and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Finally, SunTrust Banks raised their target price on Global Payments from $190.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nineteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $167.70.

Shares of GPN traded up $0.10 during midday trading on Wednesday, reaching $165.36. The stock had a trading volume of 53,614 shares, compared to its average volume of 1,540,471. The firm has a market cap of $26.76 billion, a PE ratio of 31.84, a P/E/G ratio of 1.74 and a beta of 1.02. The firm has a 50 day simple moving average of $163.27 and a 200-day simple moving average of $151.03. Global Payments Inc has a one year low of $94.81 and a one year high of $175.95. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.20.

Global Payments (NYSE:GPN) last issued its earnings results on Tuesday, July 30th. The business services provider reported $1.51 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.46 by $0.05. Global Payments had a net margin of 13.62% and a return on equity of 20.36%. The company had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same period in the prior year, the firm earned $1.29 EPS. Global Payments’s quarterly revenue was up 13.4% compared to the same quarter last year. As a group, research analysts forecast that Global Payments Inc will post 5.82 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date is Thursday, September 12th. Global Payments’s dividend payout ratio (DPR) is presently 0.77%.

Global Payments Company Profile

Global Payments Inc provides payment technology and software solutions for card, electronic, check, and digital-based payments. The company operates in three segments: North America, Europe, and Asia-Pacific. 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, and online reporting services.

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Institutional Ownership by Quarter for Global Payments (NYSE:GPN)

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