Raymond James Financial Services Advisors Inc. Sells 518 Shares of Global Payments Inc (NYSE:GPN)

Raymond James Financial Services Advisors Inc. reduced its stake in shares of Global Payments Inc (NYSE:GPN) by 5.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,336 shares of the business services provider’s stock after selling 518 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Global Payments were worth $1,275,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Teacher Retirement System of Texas grew its stake in shares of Global Payments by 51.5% during the 1st quarter. Teacher Retirement System of Texas now owns 3,281 shares of the business services provider’s stock valued at $448,000 after buying an additional 1,115 shares during the period. Toronto Dominion Bank grew its position in shares of Global Payments by 17.3% during the 1st quarter. Toronto Dominion Bank now owns 102,539 shares of the business services provider’s stock worth $13,995,000 after buying an additional 15,106 shares during the period. Mn Services Vermogensbeheer B.V. grew its position in shares of Global Payments by 4.8% during the 1st quarter. Mn Services Vermogensbeheer B.V. now owns 28,158 shares of the business services provider’s stock worth $3,844,000 after buying an additional 1,300 shares during the period. State Treasurer State of Michigan grew its position in shares of Global Payments by 22.4% during the 1st quarter. State Treasurer State of Michigan now owns 323,464 shares of the business services provider’s stock worth $44,159,000 after buying an additional 59,200 shares during the period. Finally, OLD National Bancorp IN grew its position in shares of Global Payments by 6.1% during the 1st quarter. OLD National Bancorp IN now owns 53,505 shares of the business services provider’s stock worth $7,305,000 after buying an additional 3,071 shares during the period. Hedge funds and other institutional investors own 97.44% of the company’s stock.

Several analysts recently issued reports on the stock. Bank of America lifted their price target on shares of Global Payments from $160.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, June 17th. Robert W. Baird lifted their price objective on shares of Global Payments from $160.00 to $174.00 and gave the stock an “outperform” rating in a report on Thursday, May 30th. BMO Capital Markets cut Global Payments from an “outperform” rating to a “market perform” rating and lifted their target price for the stock from $164.00 to $173.00 in a research note on Wednesday, May 29th. Oppenheimer boosted their price objective on Global Payments from $152.00 to $161.00 and gave the company an “outperform” rating in a research note on Wednesday, May 29th. Finally, Guggenheim upgraded Global Payments from a “neutral” rating to a “buy” rating in a research note on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty-one have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $147.65.

Shares of NYSE GPN traded up $0.40 during midday trading on Friday, reaching $160.13. 1,514,500 shares of the company were exchanged, compared to its average volume of 1,307,860. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.25. Global Payments Inc has a 1 year low of $94.81 and a 1 year high of $163.46. The company’s fifty day moving average is $154.71. The company has a market capitalization of $25.06 billion, a PE ratio of 30.85, a P/E/G ratio of 1.61 and a beta of 1.08.

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 Zacks’ 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 company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the previous year, the company earned $1.13 EPS. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. As a group, equities research analysts predict that Global Payments Inc will post 5.81 earnings per share for the current year.

The firm 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 $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date is Thursday, June 13th. Global Payments’s dividend payout ratio is presently 0.77%.

In other Global Payments news, Director Robert H. B. Baldwin, Jr. sold 4,250 shares of Global Payments stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $146.36, for a total value of $622,030.00. Following the sale, the director now owns 48,382 shares of the company’s stock, valued at approximately $7,081,189.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alan M. Silberstein sold 700 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $138.96, for a total value of $97,272.00. Following the sale, the director now directly owns 40,355 shares in the company, valued at approximately $5,607,730.80. The disclosure for this sale can be found here. Insiders sold a total of 5,650 shares of company stock worth $829,867 in the last ninety days. 0.88% of the stock is owned by corporate insiders.

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.

Featured Article: How to Invest in Marijuana Stocks

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

Receive News & Ratings for Global Payments Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Global Payments and related companies with MarketBeat.com's FREE daily email newsletter.