Eagle Asset Management Inc. Buys 1,709 Shares of Global Payments Inc (NYSE:GPN)
Eagle Asset Management Inc. lifted its stake in shares of Global Payments Inc (NYSE:GPN) by 0.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 525,534 shares of the business services provider’s stock after acquiring an additional 1,709 shares during the quarter. Eagle Asset Management Inc. owned approximately 0.34% of Global Payments worth $83,559,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently modified their holdings of GPN. Lenox Wealth Advisors LLC bought a new stake in Global Payments in the second quarter worth approximately $25,000. Next Capital Management LLC bought a new stake in Global Payments in the second quarter worth approximately $25,000. Citizens Financial Group Inc RI bought a new stake in Global Payments in the second quarter worth approximately $27,000. First Financial Corp IN bought a new stake in Global Payments in the third quarter worth approximately $27,000. Finally, Tarbox Family Office Inc. increased its holdings in Global Payments by 130.7% in the third quarter. Tarbox Family Office Inc. now owns 173 shares of the business services provider’s stock worth $28,000 after purchasing an additional 98 shares in the last quarter. Institutional investors own 97.09% of the company’s stock.
GPN has been the subject of a number of research analyst reports. Wells Fargo & Co lifted their target price on Global Payments from $185.00 to $190.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Wedbush lifted their target price on Global Payments from $168.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Wolfe Research set a $195.00 target price on Global Payments and gave the stock a “buy” rating in a report on Friday, November 1st. Oppenheimer lifted their target price on Global Payments from $178.00 to $192.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, Piper Jaffray Companies set a $195.00 target price on Global Payments and gave the stock an “overweight” rating in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-one have assigned a buy rating to the company. Global Payments presently has a consensus rating of “Buy” and an average target price of $177.97.
Global Payments (NYSE:GPN) last announced its quarterly earnings data on Thursday, October 31st. The business services provider reported $1.70 EPS for the quarter, beating the Zacks’ consensus estimate of $1.67 by $0.03. Global Payments had a return on equity of 9.05% and a net margin of 10.59%. The firm had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter last year, the firm posted $1.44 earnings per share. The company’s revenue for the quarter was up 27.4% compared to the same quarter last year. Research analysts forecast that Global Payments Inc will post 5.83 EPS for the current year.
In related news, Director Joia M. Johnson bought 575 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were bought at an average price of $169.35 per share, with a total value of $97,376.25. Following the completion of the transaction, the director now directly owns 1,787 shares in the company, valued at $302,628.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William I. Jacobs sold 10,980 shares of Global Payments stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $175.27, for a total value of $1,924,464.60. Following the transaction, the director now directly owns 40,568 shares in the company, valued at approximately $7,110,353.36. The disclosure for this sale can be found here. Insiders sold 37,287 shares of company stock valued at $6,203,454 in the last three months. Insiders own 0.88% of the company’s stock.
About Global Payments
Global Payments Inc provides payment technology and software solutions for card, electronic, check, and digital-based payments. The company operates in three segments: North America, Europe, and Asia-Pacific. It offers authorization services, settlement and funding services, customer support and help-desk functions, chargeback resolution, terminal rental, sales and deployment, payment security services, consolidated billing and statements, and online reporting services.
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