Global Payments Inc. $GPN Stock Position Lessened by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. reduced its holdings in shares of Global Payments Inc. (NYSE:GPN) by 10.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 480,904 shares of the business services provider’s stock after selling 56,748 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Global Payments were worth $39,275,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Gtcr LLC bought a new position in Global Payments during the 1st quarter valued at about $2,911,939,000. Pzena Investment Management LLC acquired a new position in shares of Global Payments during the 2nd quarter worth approximately $848,344,000. Dimensional Fund Advisors LP boosted its stake in Global Payments by 1.1% during the first quarter. Dimensional Fund Advisors LP now owns 2,117,172 shares of the business services provider’s stock worth $142,478,000 after buying an additional 23,293 shares during the last quarter. Deutsche Bank AG purchased a new position in shares of Global Payments during the second quarter worth $138,781,000. Finally, Legal & General Group Plc purchased a new stake in shares of Global Payments in the 2nd quarter valued at approximately $120,036,000. 89.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on GPN shares. TD Cowen lifted their price objective on shares of Global Payments from $90.00 to $95.00 and gave the company a “hold” rating in a research report on Wednesday, August 26th. William Blair reissued a “market perform” rating on shares of Global Payments in a research report on Friday, October 30th. KeyCorp raised shares of Global Payments from a “sector weight” rating to an “overweight” rating and set a $105.00 price objective for the company in a report on Monday, October 19th. Argus set a $110.00 price target on shares of Global Payments and gave the company a “buy” rating in a research note on Thursday, August 6th. Finally, Oppenheimer upgraded Global Payments from a “market perform” rating to an “outperform” rating and set a $115.00 target price for the company in a research report on Thursday, October 8th. Thirteen analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $95.55.

Global Payments Stock Performance

Shares of NYSE:GPN opened at $96.11 on Thursday. The business has a fifty day moving average of $86.57 and a 200-day moving average of $77.31. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market cap of $25.43 billion, a PE ratio of -32.25, a price-to-earnings-growth ratio of 0.48 and a beta of 0.83. Global Payments Inc. has a twelve month low of $61.16 and a twelve month high of $101.32.

Global Payments (NYSE:GPN) last released its quarterly earnings data on Wednesday, August 5th. The business services provider reported $3.46 EPS for the quarter, beating analysts’ consensus estimates of $3.44 by $0.02. Global Payments had a positive return on equity of 13.80% and a negative net margin of 9.16%. The business had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter in the prior year, the company posted $3.10 earnings per share. The firm’s revenue was up 68.6% on a year-over-year basis. On average, equities research analysts predict that Global Payments Inc. will post 13.64 EPS for the current fiscal year.

Global Payments Profile

Global Payments Inc (NYSE:GPN) is a financial technology and payments company that provides software and payment solutions to businesses, financial institutions and other organizations. Its services help merchants accept payments through credit cards, debit cards, digital wallets and other electronic methods across in-store, online and mobile channels.

The company offers payment processing, point-of-sale technology, commerce management software, payment security and reporting tools. Its solutions are used in industries including retail, restaurants, hospitality, healthcare, education and government.