Global Payments Inc. (NYSE:GPN) Shares Sold by Healthcare of Ontario Pension Plan Trust Fund

Posted by Defense World Staff on Mar 1st, 2023

Healthcare of Ontario Pension Plan Trust Fund decreased its position in Global Payments Inc. (NYSE:GPN – Get Rating) by 35.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,192 shares of the business services provider’s stock after selling 3,364 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Global Payments were worth $669,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Atlas Capital Advisors LLC increased its position in shares of Global Payments by 52.9% in the 3rd quarter. Atlas Capital Advisors LLC now owns 321 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 111 shares during the last quarter. Guardian Wealth Advisors LLC acquired a new stake in shares of Global Payments in the third quarter valued at about $36,000. Parkside Financial Bank & Trust increased its holdings in Global Payments by 48.7% during the 3rd quarter. Parkside Financial Bank & Trust now owns 348 shares of the business services provider’s stock valued at $38,000 after acquiring an additional 114 shares in the last quarter. Ameliora Wealth Management Ltd. purchased a new position in Global Payments during the 3rd quarter valued at about $49,000. Finally, Old North State Trust LLC purchased a new stake in shares of Global Payments during the third quarter worth about $50,000. Hedge funds and other institutional investors own 87.58% of the company’s stock.

Insider Activity

In other Global Payments news, Director Robert H. B. Baldwin, Jr. bought 3,400 shares of the company’s stock in a transaction dated Monday, December 12th. The shares were bought at an average price of $98.62 per share, for a total transaction of $335,308.00. Following the acquisition, the director now directly owns 38,940 shares of the company’s stock, valued at $3,840,262.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Robert H. B. Baldwin, Jr. acquired 3,400 shares of the company’s stock in a transaction that occurred on Monday, December 12th. The shares were purchased at an average price of $98.62 per share, for a total transaction of $335,308.00. Following the completion of the acquisition, the director now owns 38,940 shares of the company’s stock, valued at approximately $3,840,262.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO David M. Sheffield sold 1,562 shares of the stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $113.08, for a total value of $176,630.96. Following the completion of the transaction, the chief accounting officer now owns 28,032 shares in the company, valued at approximately $3,169,858.56. The disclosure for this sale can be found here. 1.19% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. KeyCorp lowered their target price on shares of Global Payments from $140.00 to $115.00 and set an “overweight” rating for the company in a report on Monday, January 9th. Wedbush reduced their target price on shares of Global Payments to $150.00 in a research report on Friday, November 4th. Morgan Stanley boosted their target price on shares of Global Payments from $135.00 to $144.00 and gave the stock an “overweight” rating in a research report on Monday, February 13th. Moffett Nathanson reduced their target price on shares of Global Payments to $135.00 in a research report on Friday, November 4th. Finally, Mizuho lifted their price target on shares of Global Payments from $115.00 to $120.00 and gave the stock a “neutral” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Global Payments presently has a consensus rating of “Moderate Buy” and an average price target of $149.31.

Global Payments Price Performance

GPN stock opened at $112.20 on Wednesday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.55. Global Payments Inc. has a one year low of $92.27 and a one year high of $146.71. The firm has a market capitalization of $29.53 billion, a PE ratio of 255.01, a P/E/G ratio of 0.73 and a beta of 0.99. The firm has a 50-day moving average of $108.87 and a two-hundred day moving average of $111.47.

Global Payments (NYSE:GPN – Get Rating) last posted its quarterly earnings data on Friday, February 10th. The business services provider reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $2.34 by $0.08. Global Payments had a net margin of 1.24% and a return on equity of 10.30%. The company had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.02 billion. During the same period in the prior year, the firm earned $2.03 earnings per share. The business’s quarterly revenue was up 2.7% on a year-over-year basis. On average, analysts forecast that Global Payments Inc. will post 9.87 earnings per share for the current year.

Global Payments Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, March 17th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, March 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.89%. Global Payments’s dividend payout ratio is 227.28%.

About Global Payments

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Global Payments, Inc engages in the provision of payment technology and software solutions. It operates through the following segments: Merchant Solutions, Issuer Solutions and Business & Consumer Solutions. The Merchant Solutions segment provides payments technology and software solutions to customers globally.