Oakworth Capital Inc. Sells 4,126 Shares of Global Payments Inc. (NYSE:GPN)

Oakworth Capital Inc. cut its position in Global Payments Inc. (NYSE:GPN) by 26.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,510 shares of the business services provider’s stock after selling 4,126 shares during the quarter. Oakworth Capital Inc.’s holdings in Global Payments were worth $1,179,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of GPN. New Covenant Trust Company N.A. bought a new position in Global Payments in the first quarter valued at about $31,000. LRI Investments LLC bought a new position in Global Payments in the first quarter valued at about $32,000. POM Investment Strategies LLC bought a new position in Global Payments in the second quarter valued at about $32,000. Whittier Trust Co. of Nevada Inc. raised its position in 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. Finally, West Paces Advisors Inc. raised its position in Global Payments by 54.5% in the first quarter. West Paces Advisors Inc. now owns 309 shares of the business services provider’s stock valued at $41,000 after purchasing an additional 109 shares during the last quarter. 89.76% of the stock is currently owned by institutional investors.

Global Payments Stock Down 0.9 %

Shares of NYSE:GPN opened at $99.06 on Tuesday. The stock has a market cap of $25.29 billion, a price-to-earnings ratio of 19.83, a PEG ratio of 0.74 and a beta of 0.98. The company has a quick ratio of 0.92, a current 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 business’s 50 day moving average is $105.88 and its 200 day moving average is $105.48.

Global Payments (NYSE:GPN) last announced its earnings results on Wednesday, August 7th. The business services provider reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.90 by $0.03. The company 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%. Global Payments’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.48 earnings per share. On average, sell-side analysts forecast that Global Payments Inc. will post 11.07 earnings per share for the current fiscal year.

Global Payments Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.00 annualized dividend and a dividend yield of 1.01%. Global Payments’s payout ratio is 19.84%.

Insider Activity at Global Payments

In related news, CAO David M. Sheffield sold 1,651 shares of Global Payments stock in a transaction that occurred on Thursday, August 8th. The stock was 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 of the company’s stock, valued at $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 Securities & Exchange Commission, which is available at this link. 0.98% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have commented on GPN. TD Cowen dropped their target price on Global Payments from $125.00 to $122.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Royal Bank of Canada lowered their price objective on Global Payments from $158.00 to $143.00 and set an “outperform” rating for the company in a research report on Friday, October 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. BNP Paribas upgraded Global Payments to a “strong sell” rating in a research report on Wednesday, September 4th. Finally, KeyCorp lowered their price objective on Global Payments from $145.00 to $135.00 and set an “overweight” rating for the company in a research report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, Global Payments currently has an average rating of “Moderate Buy” and an average target price of $137.65.

About Global Payments

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.