Global Payments Inc. (GPN) Shares Sold by Federated Investors Inc. PA
Federated Investors Inc. PA decreased its stake in Global Payments Inc. (NYSE:GPN) by 96.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,708 shares of the business services provider’s stock after selling 64,953 shares during the period. Federated Investors Inc. PA’s holdings in Global Payments were worth $245,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of GPN. OLD Mutual Customised Solutions Proprietary Ltd. boosted its holdings in shares of Global Payments by 84.8% in the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,033 shares of the business services provider’s stock valued at $164,000 after buying an additional 933 shares in the last quarter. Point72 Asia Hong Kong Ltd acquired a new position in shares of Global Payments in the 1st quarter valued at $200,000. Lakeview Capital Partners LLC acquired a new position in shares of Global Payments in the 2nd quarter valued at $200,000. BlueCrest Capital Management Ltd acquired a new position in shares of Global Payments in the 1st quarter valued at $203,000. Finally, IBM Retirement Fund acquired a new position in shares of Global Payments in the 2nd quarter valued at $206,000. Institutional investors and hedge funds own 97.84% of the company’s stock.
GPN has been the subject of several research analyst reports. Stifel Nicolaus initiated coverage on shares of Global Payments in a report on Thursday, June 1st. They issued a “buy” rating and a $102.00 target price for the company. Royal Bank Of Canada restated a “buy” rating and issued a $90.00 target price on shares of Global Payments in a report on Friday, July 7th. Zacks Investment Research upgraded shares of Global Payments from a “hold” rating to a “buy” rating and set a $101.00 target price for the company in a report on Thursday, July 6th. Mizuho initiated coverage on shares of Global Payments in a report on Tuesday, June 27th. They issued a “buy” rating and a $105.00 target price for the company. Finally, Keefe, Bruyette & Woods restated a “buy” rating and issued a $100.00 target price on shares of Global Payments in a report on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twenty have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $98.26.
Global Payments Inc. (NYSE GPN) opened at 95.82 on Friday. Global Payments Inc. has a one year low of $64.63 and a one year high of $98.14. The stock has a market cap of $14.61 billion, a P/E ratio of 74.34 and a beta of 1.11. The stock has a 50 day moving average of $95.36 and a 200-day moving average of $88.50.
Global Payments (NYSE:GPN) last announced its quarterly earnings results on Thursday, August 3rd. The business services provider reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.07. Global Payments had a net margin of 6.65% and a return on equity of 18.32%. The company had revenue of $847.90 million during the quarter, compared to the consensus estimate of $837.76 million. During the same quarter in the previous year, the company posted $0.76 earnings per share. The company’s revenue for the quarter was up 18.4% compared to the same quarter last year. Analysts anticipate that Global Payments Inc. will post $3.95 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.04%. The ex-dividend date of this dividend is Thursday, September 14th. Global Payments’s dividend payout ratio (DPR) is 2.45%.
In related news, Director Robert H. B. Baldwin, Jr. sold 4,200 shares of Global Payments stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $89.87, for a total transaction of $377,454.00. Following the sale, the director now directly owns 195,477 shares in the company, valued at $17,567,517.99. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Alan M. Silberstein sold 600 shares of Global Payments stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $90.94, for a total transaction of $54,564.00. Following the sale, the director now owns 47,893 shares in the company, valued at $4,355,389.42. The disclosure for this sale can be found here. In the last three months, insiders have sold 141,749 shares of company stock valued at $13,421,277. Corporate insiders own 0.93% of the company’s stock.
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About Global Payments
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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