Nomura Asset Management Co. Ltd. Trims Stake in Global Payments Inc. (GPN)
Nomura Asset Management Co. Ltd. trimmed its position in Global Payments Inc. (NYSE:GPN) by 27.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 593,377 shares of the business services provider’s stock after selling 220,661 shares during the quarter. Nomura Asset Management Co. Ltd. owned about 0.37% of Global Payments worth $56,389,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of the company. Sun Life Financial INC increased its stake in Global Payments by 15,728.6% during the second quarter. Sun Life Financial INC now owns 1,108 shares of the business services provider’s stock worth $100,000 after acquiring an additional 1,101 shares during the last quarter. Thompson Davis & CO. Inc. increased its stake in Global Payments by 0.8% during the second quarter. Thompson Davis & CO. Inc. now owns 1,197 shares of the business services provider’s stock worth $108,000 after acquiring an additional 10 shares during the last quarter. Intellectus Partners LLC bought a new stake in Global Payments during the second quarter worth approximately $128,000. Commonwealth Bank of Australia increased its stake in Global Payments by 13.6% during the second quarter. Commonwealth Bank of Australia now owns 1,466 shares of the business services provider’s stock worth $131,000 after acquiring an additional 176 shares during the last quarter. Finally, Stephens Inc. AR bought a new stake in Global Payments during the second quarter worth approximately $143,000. 98.97% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have weighed in on GPN shares. Credit Suisse Group reissued an “outperform” rating on shares of Global Payments in a research note on Tuesday, September 5th. Deutsche Bank restated a “buy” rating and set a $115.00 target price (up previously from $100.00) on shares of Global Payments in a research report on Tuesday, October 10th. Zacks Investment Research lowered Global Payments from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. Robert W. Baird restated a “buy” rating and set a $106.00 target price on shares of Global Payments in a research report on Tuesday, September 5th. Finally, Nomura boosted their target price on Global Payments from $83.00 to $85.00 and gave the company a “reduce” rating in a research report on Thursday, November 9th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and twenty-three have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $105.01.
Shares of Global Payments Inc. (NYSE:GPN) traded down $4.79 during midday trading on Tuesday, hitting $95.96. The company had a trading volume of 2,119,200 shares, compared to its average volume of 1,119,859. The stock has a market capitalization of $15,390.00, a price-to-earnings ratio of 27.08, a price-to-earnings-growth ratio of 1.85 and a beta of 1.11. Global Payments Inc. has a 12-month low of $68.53 and a 12-month high of $104.90. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.27.
Global Payments (NYSE:GPN) last issued its quarterly earnings data on Wednesday, November 8th. The business services provider reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.12. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.89 earnings per share. equities research analysts anticipate that Global Payments Inc. will post 3.81 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.04%. The ex-dividend date of this dividend is Thursday, December 14th. Global Payments’s dividend payout ratio (DPR) is 2.27%.
In other news, Director Robert H. B. Baldwin, Jr. sold 8,200 shares of the company’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $97.61, for a total transaction of $800,402.00. Following the transaction, the director now directly owns 172,497 shares of the company’s stock, valued at $16,837,432.17. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Alan M. Silberstein sold 600 shares of the company’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $100.48, for a total value of $60,288.00. Following the transaction, the director now directly owns 45,493 shares in the company, valued at $4,571,136.64. The disclosure for this sale can be found here. Insiders sold 37,800 shares of company stock valued at $3,750,676 in the last three months. 0.93% of the stock is currently owned by insiders.
Global Payments 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.
Receive News & Ratings for Global Payments Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Global Payments Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.