Tokio Marine Asset Management Co. Ltd. Increases Stock Holdings in Global Payments Inc. (NYSE:GPN)

Tokio Marine Asset Management Co. Ltd. boosted its position in Global Payments Inc. (NYSE:GPN) by 10.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,750 shares of the business services provider’s stock after purchasing an additional 735 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Global Payments were worth $759,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. National Pension Service boosted its position in Global Payments by 4.8% in the first quarter. National Pension Service now owns 397,851 shares of the business services provider’s stock worth $38,958,000 after purchasing an additional 18,334 shares during the last quarter. WESCAP Management Group Inc. boosted its position in Global Payments by 2.5% in the first quarter. WESCAP Management Group Inc. now owns 7,102 shares of the business services provider’s stock worth $695,000 after purchasing an additional 176 shares during the last quarter. Russell Investments Group Ltd. boosted its position in Global Payments by 4.7% in the first quarter. Russell Investments Group Ltd. now owns 1,169,708 shares of the business services provider’s stock worth $114,533,000 after purchasing an additional 52,039 shares during the last quarter. Resona Asset Management Co. Ltd. boosted its position in Global Payments by 5.1% in the first quarter. Resona Asset Management Co. Ltd. now owns 78,402 shares of the business services provider’s stock worth $7,672,000 after purchasing an additional 3,817 shares during the last quarter. Finally, HighTower Advisors LLC boosted its position in Global Payments by 1.5% in the first quarter. HighTower Advisors LLC now owns 36,856 shares of the business services provider’s stock worth $3,609,000 after purchasing an additional 562 shares during the last quarter. 89.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on the company. B. Riley reissued a “buy” rating on shares of Global Payments in a research report on Wednesday, July 16th. JPMorgan Chase & Co. lifted their price objective on Global Payments from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Thursday, August 7th. Cowen cut Global Payments from a “buy” rating to a “hold” rating in a research report on Monday, April 21st. KeyCorp reaffirmed an “overweight” rating and set a $100.00 price objective (up from $90.00) on shares of Global Payments in a research report on Thursday, August 7th. Finally, Keefe, Bruyette & Woods lifted their price objective on Global Payments from $81.00 to $85.00 and gave the company a “market perform” rating in a research report on Wednesday, July 9th. One analyst has rated the stock with a sell rating, eighteen have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $112.21.

Global Payments Stock Performance

NYSE:GPN opened at $86.83 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. Global Payments Inc. has a 1 year low of $65.93 and a 1 year high of $120.00. The stock’s 50 day simple moving average is $80.67 and its two-hundred day simple moving average is $86.93. The company has a market cap of $21.07 billion, a price-to-earnings ratio of 15.18, a PEG ratio of 0.83 and a beta of 0.93.

Global Payments (NYSE:GPN) last released its quarterly earnings data on Wednesday, August 6th. The business services provider reported $3.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.06 by $0.04. Global Payments had a return on equity of 12.47% and a net margin of 15.07%. The business had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter in the previous year, the company posted $2.93 EPS. The company’s revenue was up 1.6% compared to the same quarter last year. As a group, equities analysts anticipate that Global Payments Inc. will post 11.89 earnings per share for the current fiscal year.

Global Payments Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, September 12th. This represents a $1.00 annualized dividend and a dividend yield of 1.2%. Global Payments’s payout ratio is currently 17.48%.

Insider Buying and Selling at Global Payments

In other news, General Counsel Dara L. Steele-Belkin sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $86.00, for a total transaction of $172,000.00. Following the transaction, the general counsel owned 30,713 shares of the company’s stock, valued at approximately $2,641,318. The trade was a 6.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.01% of the company’s stock.

Global Payments 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.