Teacher Retirement System of Texas Increases Position in Global Payments Inc. (GPN)
Teacher Retirement System of Texas boosted its position in shares of Global Payments Inc. (NYSE:GPN) by 8.0% during the second quarter, Holdings Channel reports. The institutional investor owned 54,553 shares of the company’s stock after buying an additional 4,036 shares during the period. Teacher Retirement System of Texas’ holdings in Global Payments were worth $3,894,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Financial Architects Inc raised its position in Global Payments by 1,305.2% in the second quarter. Financial Architects Inc now owns 1,616 shares of the company’s stock worth $115,000 after buying an additional 1,501 shares during the last quarter. Raymond James Trust N.A. bought a new position in Global Payments during the second quarter worth $250,000. Cambridge Investment Research Advisors Inc. raised its position in Global Payments by 5.0% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 3,692 shares of the company’s stock worth $264,000 after buying an additional 176 shares during the last quarter. Mn Services Vermogensbeheer B.V. raised its position in Global Payments by 22.5% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 3,914 shares of the company’s stock worth $251,000 after buying an additional 718 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale raised its position in Global Payments by 11.1% in the second quarter. DekaBank Deutsche Girozentrale now owns 4,000 shares of the company’s stock worth $286,000 after buying an additional 400 shares during the last quarter. Institutional investors and hedge funds own 96.74% of the company’s stock.
Global Payments Inc. (NYSE:GPN) traded up 0.01% during trading on Tuesday, reaching $74.45. The company’s stock had a trading volume of 238,321 shares. The company has a market capitalization of $11.44 billion, a P/E ratio of 36.50 and a beta of 1.16. The firm’s 50-day moving average price is $74.90 and its 200 day moving average price is $72.53. Global Payments Inc. has a 12-month low of $51.29 and a 12-month high of $79.93.
Global Payments (NYSE:GPN) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.73 earnings per share for the quarter, meeting the consensus estimate of $0.73. The business earned $747.10 million during the quarter, compared to analysts’ expectations of $568.81 million. Global Payments had a return on equity of 27.99% and a net margin of 9.37%. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.22 EPS. On average, analysts predict that Global Payments Inc. will post $3.47 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, August 26th. Shareholders of record on Friday, August 12th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.05%. The ex-dividend date of this dividend was Wednesday, August 10th. Global Payments’s dividend payout ratio is presently 1.95%.
A number of research analysts have weighed in on the company. Nomura reaffirmed a “sell” rating on shares of Global Payments in a report on Saturday, June 4th. Deutsche Bank AG reaffirmed a “buy” rating and set a $79.00 target price (up previously from $72.00) on shares of Global Payments in a report on Tuesday, July 12th. Barclays PLC reduced their target price on Global Payments from $78.00 to $73.00 and set an “equal weight” rating for the company in a report on Thursday, July 7th. Zacks Investment Research raised Global Payments from a “hold” rating to a “buy” rating and set a $79.00 target price for the company in a report on Wednesday, June 29th. Finally, Wedbush reaffirmed an “outperform” rating and set a $85.00 target price on shares of Global Payments in a report on Thursday, September 8th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have given a buy rating to the company. Global Payments has an average rating of “Buy” and a consensus target price of $76.87.
In other news, Director William I. Jacobs sold 600 shares of Global Payments stock in a transaction that occurred on Tuesday, September 13th. The stock was sold at an average price of $73.62, for a total value of $44,172.00. Following the completion of the transaction, the director now owns 43,516 shares in the company, valued at approximately $3,203,647.92. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO David E. Mangum sold 8,400 shares of Global Payments stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $74.71, for a total value of $627,564.00. Following the completion of the transaction, the chief operating officer now owns 172,060 shares of the company’s stock, valued at approximately $12,854,602.60. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.
About Global Payments
Global Payments Inc is a provider of payment technology services. The Company provides payment and digital commerce solutions. The Company operates in two segments: North America merchant services and International merchant services. The Company’s North America merchant services and International merchant services segments primarily provide payment solutions for credit cards, debit cards, electronic payments and check-related services.
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