Toronto Dominion Bank Decreases Position in Global Payments Inc. (NYSE:GPN)

Toronto Dominion Bank lessened its holdings in Global Payments Inc. (NYSE:GPN) by 29.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 360,020 shares of the business services provider’s stock after selling 146,889 shares during the quarter. Toronto Dominion Bank owned 0.14% of Global Payments worth $48,120,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Turtle Creek Wealth Advisors LLC purchased a new position in Global Payments in the 4th quarter worth $30,000. McGlone Suttner Wealth Management Inc. purchased a new position in Global Payments in the 4th quarter worth $41,000. West Paces Advisors Inc. raised its position in Global Payments by 54.5% in the 1st quarter. West Paces Advisors Inc. now owns 309 shares of the business services provider’s stock worth $41,000 after purchasing an additional 109 shares during the period. North Star Investment Management Corp. raised its position in Global Payments by 154.7% in the 1st quarter. North Star Investment Management Corp. now owns 354 shares of the business services provider’s stock worth $47,000 after purchasing an additional 215 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its holdings in Global Payments by 26.7% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 34,922 shares of the business services provider’s stock worth $48,000 after acquiring an additional 7,369 shares during the last quarter. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Mizuho cut their price target on shares of Global Payments from $129.00 to $105.00 and set a “neutral” rating on the stock in a report on Wednesday, May 15th. Monness Crespi & Hardt cut their price target on shares of Global Payments from $175.00 to $165.00 and set a “buy” rating on the stock in a report on Friday, May 3rd. Royal Bank of Canada reissued an “outperform” rating and issued a $172.00 price target on shares of Global Payments in a report on Wednesday, July 10th. Morgan Stanley raised their price target on shares of Global Payments from $160.00 to $164.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Finally, KeyCorp cut their price target on shares of Global Payments from $155.00 to $145.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-one have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $145.32.

Insiders Place Their Bets

In other Global Payments news, VP Andrea M. Carter sold 3,300 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $111.34, for a total value of $367,422.00. Following the completion of the transaction, the vice president now directly owns 25,209 shares in the company, valued at $2,806,770.06. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.98% of the company’s stock.

Global Payments Stock Performance

NYSE GPN traded up $2.45 during trading hours on Friday, hitting $101.19. 1,734,645 shares of the company’s stock traded hands, compared to its average volume of 2,310,278. The business’s fifty day moving average price is $98.36 and its two-hundred day moving average price is $117.57. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $25.83 billion, a P/E ratio of 20.08, a P/E/G ratio of 0.63 and a beta of 0.98. Global Payments Inc. has a 52 week low of $91.60 and a 52 week high of $141.77.

Global Payments (NYSE:GPN) last announced its earnings results on Wednesday, May 1st. The business services provider reported $2.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.41 by $0.07. The company had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.17 billion. Global Payments had a net margin of 13.40% and a return on equity of 11.72%. Equities research analysts predict that Global Payments Inc. will post 11.09 EPS for the current year.

Global Payments Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.00 annualized dividend and a yield of 0.99%. Global Payments’s dividend payout ratio (DPR) is 19.84%.

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.