Global Payments Inc. (GPN) Stake Decreased by Los Angeles Capital Management & Equity Research Inc.
Los Angeles Capital Management & Equity Research Inc. reduced its position in Global Payments Inc. (NYSE:GPN) by 12.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 37,195 shares of the business services provider’s stock after selling 5,375 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in Global Payments were worth $3,535,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Global Payments by 3.0% in the 2nd quarter. Vanguard Group Inc. now owns 15,211,802 shares of the business services provider’s stock valued at $1,373,930,000 after buying an additional 448,864 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Global Payments by 162.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,284,298 shares of the business services provider’s stock worth $296,636,000 after purchasing an additional 2,030,880 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Global Payments by 11,779.8% in the 2nd quarter. Janus Henderson Group PLC now owns 2,292,798 shares of the business services provider’s stock worth $207,086,000 after purchasing an additional 2,273,498 shares in the last quarter. Capital International Investors acquired a new stake in Global Payments in the 2nd quarter worth approximately $173,900,000. Finally, Frontier Capital Management Co. LLC boosted its stake in Global Payments by 0.9% in the 3rd quarter. Frontier Capital Management Co. LLC now owns 1,836,396 shares of the business services provider’s stock worth $174,513,000 after purchasing an additional 16,898 shares in the last quarter. Institutional investors and hedge funds own 91.13% of the company’s stock.
Shares of Global Payments Inc. (GPN) opened at $103.21 on Wednesday. The stock has a market cap of $16,086.11, a PE ratio of 27.17, a P/E/G ratio of 1.86 and a beta of 1.14. Global Payments Inc. has a fifty-two week low of $65.91 and a fifty-two week high of $104.83. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.14 and a quick ratio of 1.14.
Global Payments (NYSE:GPN) last issued its quarterly earnings data on Wednesday, November 8th. The business services provider reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.12. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $917.31 million. Global Payments had a net margin of 7.14% and a return on equity of 18.50%. Global Payments’s revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.89 EPS. equities analysts predict that Global Payments Inc. will post 3.81 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be issued a $0.01 dividend. The ex-dividend date is Thursday, December 14th. This represents a $0.04 annualized dividend and a yield of 0.04%. Global Payments’s dividend payout ratio (DPR) is currently 2.23%.
In other Global Payments news, Director William I. Jacobs sold 600 shares of the business’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $98.00, for a total transaction of $58,800.00. Following the sale, the director now directly owns 40,075 shares in the company, valued at $3,927,350. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert H. B. Baldwin, Jr. sold 8,200 shares of the business’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $97.61, for a total transaction of $800,402.00. Following the sale, the director now owns 172,497 shares in the company, valued at $16,837,432.17. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,200 shares of company stock worth $3,690,388. 0.93% of the stock is owned by insiders.
GPN has been the subject of a number of recent analyst reports. Bank of America Corporation initiated coverage on shares of Global Payments in a research note on Tuesday, September 12th. They issued a “buy” rating and a $110.00 target price for the company. Cowen and Company reiterated a “buy” rating and issued a $102.00 target price on shares of Global Payments in a research note on Friday, September 8th. Royal Bank Of Canada reiterated a “buy” rating and issued a $103.00 target price on shares of Global Payments in a research note on Wednesday, September 6th. Robert W. Baird reiterated a “buy” rating and issued a $106.00 target price on shares of Global Payments in a research note on Tuesday, September 5th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $100.00 target price on shares of Global Payments in a research note on Thursday, August 3rd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-three have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $105.01.
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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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