Advisor Partners LLC Boosts Stake in Global Payments Inc. (NYSE:GPN)
Advisor Partners LLC raised its stake in Global Payments Inc. (NYSE:GPN) by 8.3% during the second quarter, Holdings Channel reports. The fund owned 3,566 shares of the business services provider’s stock after buying an additional 273 shares during the period. Advisor Partners LLC’s holdings in Global Payments were worth $322,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Point72 Asia Hong Kong Ltd acquired a new position in shares of Global Payments during the first quarter valued at about $200,000. Raymond James Trust N.A. increased its position in shares of Global Payments by 12.6% in the first quarter. Raymond James Trust N.A. now owns 4,240 shares of the business services provider’s stock valued at $342,000 after buying an additional 474 shares during the last quarter. IFP Advisors Inc increased its position in shares of Global Payments by 9.3% in the first quarter. IFP Advisors Inc now owns 6,420 shares of the business services provider’s stock valued at $518,000 after buying an additional 545 shares during the last quarter. Contravisory Investment Management Inc. acquired a new position in shares of Global Payments during the second quarter valued at about $246,000. Finally, Commerzbank Aktiengesellschaft FI acquired a new position in shares of Global Payments during the first quarter valued at about $233,000. 98.70% of the stock is currently owned by institutional investors.
Shares of Global Payments Inc. (GPN) opened at 93.64 on Friday. Global Payments Inc. has a 52 week low of $64.63 and a 52 week high of $97.99. The firm has a market cap of $14.28 billion, a PE ratio of 72.65 and a beta of 1.09. The company has a 50 day moving average of $92.59 and a 200 day moving average of $85.12.
Global Payments (NYSE:GPN) last announced its earnings results on Thursday, August 3rd. The business services provider reported $0.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.07. The firm had revenue of $847.90 million during the quarter, compared to analyst estimates of $837.76 million. Global Payments had a net margin of 6.65% and a return on equity of 18.32%. Global Payments’s revenue was up 18.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.76 EPS. On average, equities research analysts anticipate that Global Payments Inc. will post $3.94 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a $0.01 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.04 dividend on an annualized basis and a yield of 0.04%. Global Payments’s dividend payout ratio is presently 3.07%.
GPN has been the topic of several research reports. Keefe, Bruyette & Woods reissued a “buy” rating on shares of Global Payments in a research report on Friday, May 5th. Barclays PLC reissued a “buy” rating and set a $96.00 price objective on shares of Global Payments in a research report on Friday, May 5th. Zacks Investment Research downgraded shares of Global Payments from a “hold” rating to a “sell” rating in a report on Wednesday, May 3rd. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $90.00 target price on shares of Global Payments in a report on Friday, July 7th. Finally, Credit Suisse Group lifted their target price on shares of Global Payments from $86.00 to $91.00 and gave the company an “outperform” rating in a report on Friday, May 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eighteen have given a buy rating to the company. Global Payments currently has an average rating of “Buy” and a consensus price target of $94.58.
In related news, Director Robert H. B. Baldwin, Jr. sold 10,000 shares of the stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $95.00, for a total value of $950,000.00. Following the completion of the transaction, the director now owns 183,177 shares in the company, valued at approximately $17,401,815. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William I. Jacobs sold 600 shares of the stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $87.72, for a total transaction of $52,632.00. Following the completion of the transaction, the director now owns 42,475 shares of the company’s stock, valued at approximately $3,725,907. The disclosure for this sale can be found here. Insiders sold a total of 30,702 shares of company stock valued at $2,847,076 in the last quarter. 0.93% of the stock is currently owned by insiders.
Global Payments Company Profile
Global Payments Inc is a provider of payment technology services. The Company provides payment and digital commerce solutions. The Company operates through three segments: North America, Europe and Asia-Pacific. The Company’s segments primarily provide payment solutions for credit cards, debit cards, electronic payments and check-related services.
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