Global Payments Inc. (GPN) Stake Boosted by Retirement Systems of Alabama
Retirement Systems of Alabama raised its position in Global Payments Inc. (NYSE:GPN) by 0.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 73,932 shares of the business services provider’s stock after buying an additional 331 shares during the period. Retirement Systems of Alabama’s holdings in Global Payments were worth $6,678,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Financial Architects Inc raised its position in shares of Global Payments by 14.5% in the first quarter. Financial Architects Inc now owns 1,840 shares of the business services provider’s stock worth $149,000 after buying an additional 233 shares in the last quarter. Morgan Dempsey Capital Management LLC raised its position in shares of Global Payments by 86.6% in the first quarter. Morgan Dempsey Capital Management LLC now owns 2,004 shares of the business services provider’s stock worth $162,000 after buying an additional 930 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. raised its position in shares of Global Payments by 84.8% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,033 shares of the business services provider’s stock worth $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 during the first quarter worth $200,000. Finally, BlueCrest Capital Management Ltd acquired a new position in shares of Global Payments during the first quarter worth $203,000. 98.62% of the stock is currently owned by institutional investors.
Shares of Global Payments Inc. (GPN) opened at 94.32 on Wednesday. The firm has a market capitalization of $14.38 billion, a P/E ratio of 73.17 and a beta of 1.09. The company has a 50-day moving average price of $92.88 and a 200 day moving average price of $85.57. Global Payments Inc. has a one year low of $64.63 and a one year high of $97.99.
Global Payments (NYSE:GPN) last released its quarterly earnings data 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 business had revenue of $847.90 million during the quarter, compared to analyst estimates of $837.76 million. Global Payments’s quarterly revenue was up 18.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.76 EPS. Analysts expect that Global Payments Inc. will post $3.95 earnings per share for the current fiscal year.
The business also recently disclosed 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. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.04 annualized dividend and a dividend yield of 0.04%. Global Payments’s payout ratio is 3.07%.
A number of research analysts have weighed in on GPN shares. Royal Bank Of Canada reissued a “buy” rating and set a $90.00 price target on shares of Global Payments in a research note on Monday, May 15th. Keefe, Bruyette & Woods reissued a “buy” rating on shares of Global Payments in a research note on Monday, May 15th. Cantor Fitzgerald reissued a “buy” rating and set a $97.00 price target (up previously from $93.00) on shares of Global Payments in a research note on Monday, May 8th. Barclays PLC reissued a “buy” rating and set a $96.00 price target on shares of Global Payments in a research note on Friday, May 5th. Finally, Stifel Nicolaus started coverage on Global Payments in a research note on Thursday, June 1st. They set a “buy” rating and a $102.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and eighteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $94.58.
In related news, insider David E. Mangum sold 75,794 shares of the company’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $94.51, for a total value of $7,163,290.94. Following the sale, the insider now owns 112,930 shares of the company’s stock, valued at $10,673,014.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Alan M. Silberstein sold 600 shares of the company’s stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $88.09, for a total transaction of $52,854.00. Following the completion of the sale, the director now directly owns 49,093 shares in the company, valued at approximately $4,324,602.37. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 105,896 shares of company stock worth $9,957,734. Insiders own 0.93% 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 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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