Allspring Global Investments Holdings LLC Has $1.25 Million Stock Holdings in Global Payments Inc. (NYSE:GPN)

Allspring Global Investments Holdings LLC lowered its stake in Global Payments Inc. (NYSE:GPN) by 6.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 12,211 shares of the business services provider’s stock after selling 807 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Global Payments were worth $1,251,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of GPN. New Covenant Trust Company N.A. acquired a new stake in Global Payments in the 1st quarter valued at about $31,000. LRI Investments LLC acquired a new stake in shares of Global Payments during the 1st quarter worth approximately $32,000. POM Investment Strategies LLC bought a new position in Global Payments in the second quarter valued at approximately $32,000. Quarry LP raised its position in Global Payments by 134.4% during the second quarter. Quarry LP now owns 511 shares of the business services provider’s stock valued at $49,000 after purchasing an additional 293 shares in the last quarter. Finally, Exchange Traded Concepts LLC bought a new position in Global Payments in the third quarter valued at about $50,000. 89.76% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CAO David M. Sheffield sold 1,651 shares of Global Payments stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $100.73, for a total transaction of $166,305.23. Following the transaction, the chief accounting officer now owns 20,531 shares in the company, valued at approximately $2,068,087.63. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.98% of the company’s stock.

Global Payments Stock Performance

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

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, topping the consensus estimate of $2.90 by $0.03. Global Payments had a net margin of 14.26% and a return on equity of 11.93%. The business had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.32 billion. During the same period last year, the company earned $2.48 earnings per share. The company’s quarterly revenue was up 4.7% on a year-over-year basis. On average, research analysts predict that Global Payments Inc. will post 11.06 earnings per share for the current year.

Global Payments Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend 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 19.84%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on GPN shares. B. Riley reduced their target price on shares of Global Payments from $204.00 to $194.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. BNP Paribas upgraded Global Payments to a “strong sell” rating in a research report on Wednesday, September 4th. Barclays lowered their price objective on Global Payments from $145.00 to $120.00 and set an “overweight” rating for the company in a research report on Monday, September 30th. Oppenheimer started coverage on shares of Global Payments in a research note on Tuesday, October 1st. They set a “market perform” rating for the company. Finally, Sanford C. Bernstein downgraded 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. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $136.96.

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.