Global Payments Inc. (GPN) Stake Maintained by Connable Office Inc.
Connable Office Inc. maintained its position in shares of Global Payments Inc. (NYSE:GPN) during the second quarter, Holdings Channel reports. The firm owned 9,390 shares of the business services provider’s stock at the end of the second quarter. Connable Office Inc.’s holdings in Global Payments were worth $848,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in GPN. Point72 Asia Hong Kong Ltd acquired a new position in shares of Global Payments during the first quarter valued at approximately $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. Commerzbank Aktiengesellschaft FI acquired a new position in shares of Global Payments during the first quarter valued at approximately $233,000. Finally, Contravisory Investment Management Inc. acquired a new position in shares of Global Payments during the second quarter valued at approximately $246,000. Institutional investors and hedge funds own 98.70% of the company’s stock.
Shares of Global Payments Inc. (GPN) opened at 96.02 on Thursday. The stock has a market capitalization of $14.64 billion, a P/E ratio of 75.55 and a beta of 1.09. The firm’s 50-day moving average price is $92.47 and its 200-day moving average price is $85.06. Global Payments Inc. has a 12 month low of $64.63 and a 12 month high of $97.99.
Global Payments (NYSE:GPN) last released its quarterly earnings results on Thursday, August 3rd. The business services provider reported $0.94 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.07. The firm had revenue of $847.90 million for 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%. The business’s revenue for the quarter was up 18.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.76 EPS. On average, equities research analysts forecast that Global Payments Inc. will post $3.94 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 given 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 payout ratio is presently 3.07%.
Several equities analysts have recently commented on GPN shares. Keefe, Bruyette & Woods restated a “buy” rating on shares of Global Payments in a research report on Friday, May 5th. Zacks Investment Research downgraded Global Payments from a “hold” rating to a “sell” rating in a research report on Wednesday, May 3rd. Barclays PLC restated a “buy” rating and issued a $96.00 price objective on shares of Global Payments in a research report on Friday, May 5th. Royal Bank Of Canada restated a “buy” rating and issued a $90.00 price objective on shares of Global Payments in a research report on Friday, July 7th. Finally, Credit Suisse Group boosted their target price on Global Payments from $86.00 to $91.00 and gave the stock an “outperform” rating in a research report on Friday, May 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eighteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $94.58.
In other news, Director Ruth Ann Marshall sold 5,402 shares of Global Payments stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $92.26, for a total transaction of $498,388.52. Following the sale, the director now owns 41,476 shares of the company’s stock, valued at approximately $3,826,575.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director William I. Jacobs sold 600 shares of Global Payments stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $87.72, for a total transaction of $52,632.00. Following the sale, the director now directly owns 42,475 shares in the company, valued at approximately $3,725,907. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,702 shares of company stock worth $2,847,076. Corporate insiders own 0.93% of the company’s stock.
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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