IFP Advisors Inc Sells 20 Shares of Global Payments Inc. (GPN)
IFP Advisors Inc cut its position in Global Payments Inc. (NYSE:GPN) by 0.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,400 shares of the business services provider’s stock after selling 20 shares during the period. IFP Advisors Inc’s holdings in Global Payments were worth $578,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the company. Russell Investments Group Ltd. increased its position in shares of Global Payments by 24.4% in the first quarter. Russell Investments Group Ltd. now owns 97,983 shares of the business services provider’s stock worth $7,907,000 after buying an additional 19,222 shares in the last quarter. Janney Capital Management LLC purchased a new position in shares of Global Payments during the first quarter worth approximately $253,000. Mn Services Vermogensbeheer B.V. increased its position in shares of Global Payments by 4.7% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 4,099 shares of the business services provider’s stock worth $309,000 after buying an additional 185 shares in the last quarter. Candriam Luxembourg S.C.A. increased its position in shares of Global Payments by 36.8% in the first quarter. Candriam Luxembourg S.C.A. now owns 9,645 shares of the business services provider’s stock worth $778,000 after buying an additional 2,597 shares in the last quarter. Finally, State of Alaska Department of Revenue purchased a new position in shares of Global Payments during the first quarter worth approximately $409,000. Institutional investors and hedge funds own 98.70% of the company’s stock.
Shares of Global Payments Inc. (GPN) opened at 93.31 on Friday. The stock has a market cap of $14.23 billion, a price-to-earnings ratio of 72.39 and a beta of 1.09. The company has a 50-day moving average price of $92.67 and a 200-day moving average price of $85.23. 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, topping the consensus estimate of $0.87 by $0.07. The company had revenue of $847.90 million for the quarter, compared to analyst estimates of $837.76 million. Global Payments had a return on equity of 18.32% and a net margin of 6.65%. The firm’s revenue was up 18.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.76 earnings per share. On average, analysts expect that Global Payments Inc. will post $3.95 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders 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 yield of 0.04%. The ex-dividend date of this dividend is Thursday, September 14th. Global Payments’s dividend payout ratio (DPR) is 3.07%.
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A number of equities analysts have commented on the stock. Stifel Nicolaus reiterated a “buy” rating and issued a $103.00 target price (up from $102.00) on shares of Global Payments in a report on Friday, August 4th. Keefe, Bruyette & Woods restated a “buy” rating and set a $100.00 price objective on shares of Global Payments in a report on Thursday, August 3rd. Royal Bank Of Canada cut their price objective on shares of Global Payments from $103.00 to $90.00 and set an “outperform” rating on the stock in a report on Friday, August 4th. Barclays PLC upped their price objective on shares of Global Payments from $98.00 to $105.00 and gave the company an “overweight” rating in a report on Friday, August 4th. Finally, Compass Point downgraded shares of Global Payments from a “buy” rating to a “neutral” rating and upped their price objective for the company from $95.72 to $96.00 in a report on Friday, August 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eighteen have assigned a buy rating to the stock. Global Payments currently has a consensus rating of “Buy” and a consensus target price of $94.58.
In other Global Payments news, Director William I. Jacobs sold 600 shares of Global Payments stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $87.72, for a total value of $52,632.00. Following the transaction, the director now directly owns 42,475 shares in the company, valued at approximately $3,725,907. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David E. Mangum sold 75,794 shares of Global Payments stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 112,930 shares in the company, valued at $10,673,014.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 106,496 shares of company stock worth $10,010,366. 0.93% of the stock is currently owned by corporate insiders.
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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