Shine Investment Advisory Services Inc. Cuts Holdings in Global Payments Inc (NYSE:GPN)

Shine Investment Advisory Services Inc. cut its stake in Global Payments Inc (NYSE:GPN) by 45.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 419 shares of the business services provider’s stock after selling 352 shares during the period. Shine Investment Advisory Services Inc.’s holdings in Global Payments were worth $57,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GPN. Nissay Asset Management Corp Japan ADV grew its position in shares of Global Payments by 0.8% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 12,472 shares of the business services provider’s stock valued at $1,286,000 after buying an additional 99 shares during the last quarter. Bessemer Group Inc. grew its position in shares of Global Payments by 35.7% in the 4th quarter. Bessemer Group Inc. now owns 407 shares of the business services provider’s stock valued at $43,000 after buying an additional 107 shares during the last quarter. IFP Advisors Inc grew its position in shares of Global Payments by 15.6% in the 4th quarter. IFP Advisors Inc now owns 897 shares of the business services provider’s stock valued at $92,000 after buying an additional 121 shares during the last quarter. Securian Asset Management Inc grew its position in shares of Global Payments by 0.8% in the 4th quarter. Securian Asset Management Inc now owns 16,426 shares of the business services provider’s stock valued at $1,694,000 after buying an additional 123 shares during the last quarter. Finally, JOYN Advisors Inc. grew its position in shares of Global Payments by 58.7% in the 4th quarter. JOYN Advisors Inc. now owns 346 shares of the business services provider’s stock valued at $36,000 after buying an additional 128 shares during the last quarter. 99.63% of the stock is owned by hedge funds and other institutional investors.

Shares of GPN stock traded up $0.98 during trading on Thursday, hitting $146.07. The company’s stock had a trading volume of 545,352 shares, compared to its average volume of 1,176,365. The firm has a market cap of $22.93 billion, a PE ratio of 28.14, a P/E/G ratio of 1.51 and a beta of 1.20. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.25. Global Payments Inc has a 52 week low of $94.81 and a 52 week high of $147.77.

Global Payments (NYSE:GPN) last announced its quarterly earnings data on Thursday, May 2nd. The business services provider reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.12. Global Payments had a return on equity of 19.83% and a net margin of 13.69%. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period in the prior year, the company earned $1.13 earnings per share. Global Payments’s revenue was up 12.8% compared to the same quarter last year. On average, research analysts expect that Global Payments Inc will post 5.71 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend is Thursday, June 13th. Global Payments’s dividend payout ratio (DPR) is 0.77%.

In other Global Payments news, Director Robert H. B. Baldwin, Jr. sold 3,500 shares of the stock in a transaction on Thursday, February 14th. The stock was sold at an average price of $121.49, for a total transaction of $425,215.00. Following the sale, the director now owns 68,817 shares in the company, valued at $8,360,577.33. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jeffrey Steven Sloan sold 167,545 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $129.59, for a total value of $21,712,156.55. Following the sale, the chief executive officer now owns 579,207 shares in the company, valued at approximately $75,059,435.13. The disclosure for this sale can be found here. Over the last three months, insiders have sold 210,329 shares of company stock valued at $27,306,584. 0.88% of the stock is owned by corporate insiders.

A number of research analysts have recently issued reports on the company. Zacks Investment Research raised Global Payments from a “sell” rating to a “hold” rating in a research note on Monday, February 18th. JPMorgan Chase & Co. boosted their price objective on Global Payments from $140.00 to $151.00 and gave the company an “overweight” rating in a research note on Monday. Morgan Stanley boosted their price objective on Global Payments from $128.00 to $137.00 and gave the company an “equal weight” rating in a research note on Tuesday. Cantor Fitzgerald upped their price target on Global Payments from $143.00 to $163.00 and gave the stock an “overweight” rating in a research note on Friday, May 3rd. Finally, SunTrust Banks upped their price target on Global Payments to $155.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have assigned a buy rating to the stock. Global Payments has a consensus rating of “Buy” and a consensus price target of $142.62.

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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.

Further Reading: Net Margin

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

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