Meadow Creek Investment Management LLC Buys 884 Shares of Global Payments Inc (GPN)
Meadow Creek Investment Management LLC raised its stake in shares of Global Payments Inc (NYSE:GPN) by 11.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 8,364 shares of the business services provider’s stock after buying an additional 884 shares during the period. Meadow Creek Investment Management LLC’s holdings in Global Payments were worth $838,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GPN. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Global Payments during the 4th quarter valued at about $120,000. Tower Research Capital LLC TRC raised its stake in shares of Global Payments by 2,412.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,658 shares of the business services provider’s stock valued at $166,000 after buying an additional 1,592 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of Global Payments during the 3rd quarter valued at about $198,000. Klingenstein Fields & Co. LLC purchased a new position in shares of Global Payments during the 4th quarter valued at about $204,000. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of Global Payments during the 3rd quarter valued at about $209,000. Institutional investors and hedge funds own 96.67% of the company’s stock.
Several brokerages recently weighed in on GPN. Deutsche Bank lifted their price target on Global Payments and gave the company a “buy” rating in a research note on Friday, February 16th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $122.00 price target on shares of Global Payments in a research note on Friday, December 22nd. KeyCorp restated an “overweight” rating and issued a $125.00 price target (up previously from $120.00) on shares of Global Payments in a research note on Friday, March 2nd. Stephens restated a “buy” rating and issued a $125.00 price target on shares of Global Payments in a research note on Tuesday, February 27th. Finally, Piper Jaffray Companies upgraded Global Payments from a “neutral” rating to an “overweight” rating in a research note on Friday, March 2nd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and twenty-three have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $109.40.
Shares of Global Payments Inc (NYSE:GPN) opened at $113.51 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.15. Global Payments Inc has a twelve month low of $76.47 and a twelve month high of $118.94. The stock has a market capitalization of $18,552.26, a PE ratio of 29.88, a P/E/G ratio of 1.52 and a beta of 1.09.
Global Payments (NYSE:GPN) last posted its quarterly earnings data on Thursday, February 15th. The business services provider reported $1.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.01. Global Payments had a return on equity of 17.94% and a net margin of 11.78%. The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $943.39 million. During the same period in the previous year, the firm posted $0.89 EPS. Global Payments’s revenue was up 11.0% compared to the same quarter last year. equities research analysts anticipate that Global Payments Inc will post 4.85 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Friday, March 16th 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, March 15th. Global Payments’s dividend payout ratio is currently 1.34%.
Global Payments declared that its Board of Directors has authorized a stock buyback program on Thursday, February 15th that authorizes the company to buyback $600.00 million in outstanding shares. This buyback authorization authorizes the business services provider to purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.
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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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