Foster & Motley Inc. Sells 647 Shares of Global Payments Inc. (NYSE:GPN)

Foster & Motley Inc. cut its position in Global Payments Inc. (NYSE:GPN) by 21.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,414 shares of the business services provider’s stock after selling 647 shares during the quarter. Foster & Motley Inc.’s holdings in Global Payments were worth $247,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in GPN. Cromwell Holdings LLC bought a new position in shares of Global Payments in the third quarter valued at $25,000. New Covenant Trust Company N.A. bought a new position in Global Payments during the first quarter worth $31,000. LRI Investments LLC bought a new position in Global Payments during the first quarter worth $32,000. POM Investment Strategies LLC bought a new position in Global Payments during the second quarter worth $32,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its position in Global Payments by 59.6% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 383 shares of the business services provider’s stock worth $39,000 after purchasing an additional 143 shares during the period. 89.76% of the stock is owned by institutional investors.

Global Payments Stock Down 2.7 %

GPN stock opened at $111.92 on Friday. Global Payments Inc. has a 52 week low of $91.60 and a 52 week high of $141.77. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.65. The business has a 50-day simple moving average of $104.58 and a 200 day simple moving average of $103.83. The company has a market cap of $28.48 billion, a PE ratio of 21.08, a price-to-earnings-growth ratio of 0.80 and a beta of 0.97.

Global Payments (NYSE:GPN) last released its earnings results on Wednesday, August 7th. The business services provider reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.90 by $0.03. Global Payments had a return on equity of 11.94% and a net margin of 13.61%. The firm had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.32 billion. During the same quarter in the previous year, the business posted $2.48 earnings per share. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. Sell-side analysts anticipate that Global Payments Inc. will post 11.04 EPS for the current fiscal year.

Global Payments Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date is Friday, December 13th. Global Payments’s dividend payout ratio is presently 18.83%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. William Blair cut shares of Global Payments from an “outperform” rating to a “market perform” rating in a research report on Wednesday, September 25th. Sanford C. Bernstein cut shares of Global Payments from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $135.00 to $112.00 in a research report on Tuesday, October 22nd. Morgan Stanley reduced their price objective on shares of Global Payments from $164.00 to $156.00 and set an “overweight” rating for the company in a research report on Wednesday, September 25th. Jefferies Financial Group reduced their price objective on shares of Global Payments from $130.00 to $120.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Finally, B. Riley reduced their price objective on shares of Global Payments from $204.00 to $194.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $136.50.

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.