New York State Teachers Retirement System Has $24.70 Million Holdings in Global Payments Inc. (NYSE:GPN)

New York State Teachers Retirement System lessened its position in shares of Global Payments Inc. (NYSE:GPN) by 4.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 241,162 shares of the business services provider’s stock after selling 10,727 shares during the period. New York State Teachers Retirement System’s holdings in Global Payments were worth $24,700,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Cromwell Holdings LLC bought a new position in shares of Global Payments during the third quarter worth about $25,000. New Covenant Trust Company N.A. acquired a new position in Global Payments during the 1st quarter worth approximately $31,000. LRI Investments LLC bought a new position in shares of Global Payments during the 1st quarter worth approximately $32,000. POM Investment Strategies LLC bought a new position in shares of Global Payments during the 2nd quarter worth approximately $32,000. Finally, Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Global Payments by 59.6% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 383 shares of the business services provider’s stock valued at $39,000 after purchasing an additional 143 shares during the last quarter. Institutional investors and hedge funds own 89.76% of the company’s stock.

Analyst Ratings Changes

GPN has been the subject of a number of analyst reports. Sanford C. Bernstein downgraded shares of Global Payments from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $135.00 to $112.00 in a research report on Tuesday, October 22nd. BNP Paribas upgraded Global Payments to a “strong sell” rating in a report on Wednesday, September 4th. JPMorgan Chase & Co. dropped their target price on Global Payments from $118.00 to $115.00 and set a “neutral” rating on the stock in a report on Tuesday. William Blair cut Global Payments from an “outperform” rating to a “market perform” rating in a research report on Wednesday, September 25th. Finally, KeyCorp lowered their price target on Global Payments from $145.00 to $135.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $136.96.

Insider Transactions at Global Payments

In related news, CAO David M. Sheffield sold 1,651 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $100.73, for a total value 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 approximately $2,068,087.63. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.98% of the company’s stock.

Global Payments Price Performance

Global Payments stock opened at $103.71 on Friday. The company has a market capitalization of $26.47 billion, a price-to-earnings ratio of 20.58, a PEG ratio of 0.74 and a beta of 0.98. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.68. Global Payments Inc. has a 12 month low of $91.60 and a 12 month high of $141.77. The stock’s 50 day moving average is $104.72 and its 200-day moving average is $104.37.

Global Payments (NYSE:GPN) last posted its quarterly earnings data on Wednesday, August 7th. The business services provider reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.90 by $0.03. The firm had revenue of $2.57 billion for 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 quarter last year, the business earned $2.48 EPS. Equities research analysts expect that Global Payments Inc. will post 11.06 EPS for the current 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 dividend of $0.25 per share. The ex-dividend date is Friday, December 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.96%. Global Payments’s payout ratio is presently 19.84%.

Global Payments Company 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.