Reinhart Partners LLC. Sells 6,667 Shares of Global Payments Inc. (NYSE:GPN)

Reinhart Partners LLC. trimmed its holdings in shares of Global Payments Inc. (NYSE:GPN) by 5.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 107,768 shares of the business services provider’s stock after selling 6,667 shares during the quarter. Reinhart Partners LLC.’s holdings in Global Payments were worth $11,038,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of GPN. Fidelis Capital Partners LLC increased its holdings in Global Payments by 5.1% in the first quarter. Fidelis Capital Partners LLC now owns 1,930 shares of the business services provider’s stock valued at $258,000 after purchasing an additional 93 shares during the period. Oliver Luxxe Assets LLC raised its position in shares of Global Payments by 0.3% during the first quarter. Oliver Luxxe Assets LLC now owns 34,435 shares of the business services provider’s stock worth $4,603,000 after acquiring an additional 108 shares during the last quarter. West Paces Advisors Inc. lifted its stake in shares of Global Payments by 54.5% in the first quarter. West Paces Advisors Inc. now owns 309 shares of the business services provider’s stock worth $41,000 after acquiring an additional 109 shares during the period. KFG Wealth Management LLC boosted its holdings in Global Payments by 6.4% in the first quarter. KFG Wealth Management LLC now owns 1,883 shares of the business services provider’s stock valued at $252,000 after acquiring an additional 114 shares during the last quarter. Finally, Wedmont Private Capital increased its position in Global Payments by 0.9% during the 1st quarter. Wedmont Private Capital now owns 13,859 shares of the business services provider’s stock valued at $1,776,000 after purchasing an additional 119 shares during the period. Institutional investors own 89.76% of the company’s stock.

Global Payments Trading Up 1.7 %

NYSE GPN opened at $100.61 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 firm has a market capitalization of $25.60 billion, a P/E ratio of 18.43, a PEG ratio of 0.74 and a beta of 0.98. The business has a fifty day simple moving average of $105.49 and a 200 day simple moving average of $107.03. Global Payments Inc. has a 12 month low of $91.60 and a 12 month high of $141.77.

Global Payments (NYSE:GPN) last released its quarterly earnings results 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. 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 in the previous year, the company earned $2.48 earnings per share. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, analysts predict that Global Payments Inc. will post 11.07 EPS for the current fiscal year.

Global Payments Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.00 annualized dividend and a yield of 0.99%. Global Payments’s dividend payout ratio is currently 18.32%.

Analyst Upgrades and Downgrades

GPN has been the topic of a number of analyst reports. Susquehanna reaffirmed a “positive” rating and issued a $147.00 price objective on shares of Global Payments in a research note on Tuesday, September 17th. KeyCorp cut their price target on shares of Global Payments from $145.00 to $135.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 25th. TD Cowen lowered their price objective 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. BMO Capital Markets cut their target price on Global Payments from $126.00 to $122.00 and set a “market perform” rating on the stock in a research report on Wednesday, September 25th. Finally, B. Riley lowered their target price on Global Payments from $204.00 to $194.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, Global Payments currently has a consensus rating of “Moderate Buy” and an average target price of $139.55.

Insider Buying and Selling at Global Payments

In other news, CAO David M. Sheffield sold 1,651 shares of Global Payments stock in a transaction 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 sale, the chief accounting officer now directly owns 20,531 shares in the company, valued at $2,068,087.63. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.98% of the company’s stock.

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.