Cardinal Capital Management Inc. Sells 840 Shares of Global Payments Inc. (NYSE:GPN)

Cardinal Capital Management Inc. lowered its position in shares of Global Payments Inc. (NYSE:GPN) by 0.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 100,336 shares of the business services provider’s stock after selling 840 shares during the quarter. Cardinal Capital Management Inc.’s holdings in Global Payments were worth $10,276,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Valeo Financial Advisors LLC acquired a new stake in Global Payments in the 3rd quarter valued at $464,000. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in shares of Global Payments by 247.7% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,961 shares of the business services provider’s stock valued at $201,000 after acquiring an additional 1,397 shares in the last quarter. Tobam acquired a new stake in shares of Global Payments in the third quarter valued at about $71,000. Bruce G. Allen Investments LLC raised its holdings in Global Payments by 31.6% during the third quarter. Bruce G. Allen Investments LLC now owns 645 shares of the business services provider’s stock worth $66,000 after acquiring an additional 155 shares in the last quarter. Finally, CWM LLC boosted its position in Global Payments by 11.4% during the third quarter. CWM LLC now owns 38,492 shares of the business services provider’s stock valued at $3,942,000 after purchasing an additional 3,946 shares during the last quarter. 89.76% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Global Payments news, CAO David M. Sheffield sold 1,651 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $100.73, for a total transaction of $166,305.23. Following the completion of the sale, the chief accounting officer now directly owns 20,531 shares in the company, valued at $2,068,087.63. This 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 is available at the SEC website. 0.98% of the stock is currently owned by company insiders.

Global Payments Stock Performance

Shares of NYSE:GPN opened at $100.61 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.68. The firm has a market cap of $25.68 billion, a PE ratio of 19.96, a PEG ratio of 0.74 and a beta of 0.98. The company’s 50 day moving average price is $105.49 and its two-hundred day moving average price is $106.84. Global Payments Inc. has a 12-month low of $91.60 and a 12-month high of $141.77.

Global Payments (NYSE:GPN) last announced its quarterly earnings data on Wednesday, August 7th. The business services provider reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.90 by $0.03. The firm had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.32 billion. Global Payments had a return on equity of 11.93% and a net margin of 14.26%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.48 EPS. Equities research analysts predict that Global Payments Inc. will post 11.07 earnings per share for the current year.

Global Payments Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.99%. The ex-dividend date was Friday, September 13th. Global Payments’s payout ratio is presently 19.84%.

Analyst Ratings Changes

Several research analysts have weighed in on GPN shares. Seaport Res Ptn lowered Global Payments from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Monness Crespi & Hardt lowered their target price on shares of Global Payments from $165.00 to $155.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. Royal Bank of Canada cut their price target on shares of Global Payments from $158.00 to $143.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. BNP Paribas upgraded shares of Global Payments to a “strong sell” rating in a research note on Wednesday, September 4th. Finally, KeyCorp cut their target price on shares of Global Payments from $145.00 to $135.00 and set an “overweight” rating for the company in a research note on Wednesday, September 25th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $139.55.

Global Payments 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.