Profund Advisors LLC Buys 2 Shares of Global Payments Inc. (GPN)
Profund Advisors LLC raised its stake in Global Payments Inc. (NYSE:GPN) by 0.1% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 3,846 shares of the business services provider’s stock after buying an additional 2 shares during the quarter. Profund Advisors LLC’s holdings in Global Payments were worth $347,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of GPN. Thompson Davis & CO. Inc. lifted its stake in Global Payments by 0.8% in the second quarter. Thompson Davis & CO. Inc. now owns 1,197 shares of the business services provider’s stock valued at $108,000 after buying an additional 10 shares during the last quarter. Commonwealth Bank of Australia lifted its stake in Global Payments by 13.6% in the second quarter. Commonwealth Bank of Australia now owns 1,466 shares of the business services provider’s stock valued at $131,000 after buying an additional 176 shares during the last quarter. Stephens Inc. AR bought a new stake in Global Payments in the second quarter valued at $143,000. OLD Mutual Customised Solutions Proprietary Ltd. lifted its stake in Global Payments by 84.8% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,033 shares of the business services provider’s stock valued at $164,000 after buying an additional 933 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in Global Payments by 28.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,819 shares of the business services provider’s stock valued at $164,000 after buying an additional 400 shares during the last quarter. Institutional investors own 97.84% of the company’s stock.
A number of research firms have issued reports on GPN. Stifel Nicolaus reiterated a “buy” rating and issued a $103.00 target price (up from $102.00) on shares of Global Payments in a research note on Friday, August 4th. J P Morgan Chase & Co raised their target price on Global Payments from $106.00 to $107.00 and gave the company an “overweight” rating in a research note on Tuesday, September 12th. Bank of America Corporation began coverage on Global Payments in a research note on Tuesday, September 12th. They issued a “buy” rating and a $110.00 target price on the stock. 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. Finally, William Blair reiterated an “ourperform” rating on shares of Global Payments in a research note on Friday, September 22nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $99.59.
Global Payments Inc. (NYSE:GPN) opened at 96.95 on Friday. The company has a 50-day moving average price of $95.51 and a 200-day moving average price of $89.84. Global Payments Inc. has a 52 week low of $64.63 and a 52 week high of $98.14. The stock has a market cap of $14.78 billion, a PE ratio of 75.21 and a beta of 1.11.
Global Payments (NYSE:GPN) last released its earnings results on Thursday, August 3rd. The business services provider reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.07. Global Payments had a return on equity of 18.32% and a net margin of 6.65%. The firm had revenue of $847.90 million for the quarter, compared to analyst estimates of $837.76 million. During the same quarter in the prior year, the firm posted $0.76 earnings per share. The company’s quarterly revenue was up 18.4% on a year-over-year basis. Analysts anticipate that Global Payments Inc. will post $3.95 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.04%. The ex-dividend date was Thursday, September 14th. Global Payments’s payout ratio is 2.45%.
In other Global Payments news, Director William I. Jacobs sold 600 shares of the stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $98.00, for a total value of $58,800.00. Following the transaction, the director now owns 40,075 shares of the company’s stock, valued at $3,927,350. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert H. B. Baldwin, Jr. sold 10,000 shares of the stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $95.00, for a total value of $950,000.00. Following the completion of the transaction, the director now directly owns 183,177 shares in the company, valued at approximately $17,401,815. The disclosure for this sale can be found here. Insiders sold 141,749 shares of company stock worth $13,421,277 in the last three months. Insiders own 0.93% of the company’s stock.
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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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