SeaTown Holdings Pte. Ltd. purchased a new position in shares of Global Payments Inc (NYSE:GPN) during the second quarter, HoldingsChannel reports. The firm purchased 100,000 shares of the business services provider’s stock, valued at approximately $16,013,000. Global Payments accounts for 2.9% of SeaTown Holdings Pte. Ltd.’s portfolio, making the stock its 12th biggest position.

Several other large investors have also modified their holdings of GPN. Lenox Wealth Advisors LLC acquired a new position in Global Payments in the second quarter valued at $25,000. Cornerstone Advisors Inc. raised its holdings in shares of Global Payments by 114.9% during the first quarter. Cornerstone Advisors Inc. now owns 202 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 108 shares during the period. Berman Capital Advisors LLC raised its holdings in shares of Global Payments by 317.5% during the first quarter. Berman Capital Advisors LLC now owns 238 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 181 shares during the period. Lindbrook Capital LLC raised its holdings in shares of Global Payments by 171.2% during the first quarter. Lindbrook Capital LLC now owns 320 shares of the business services provider’s stock valued at $43,000 after purchasing an additional 202 shares during the period. Finally, Steward Partners Investment Advisory LLC acquired a new position in shares of Global Payments during the second quarter valued at about $61,000. Institutional investors own 98.22% of the company’s stock.

In other Global Payments news, Director William I. Jacobs sold 600 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $165.05, for a total value of $99,030.00. Following the completion of the sale, the director now directly owns 30,188 shares of the company’s stock, valued at approximately $4,982,529.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alan M. Silberstein sold 700 shares of the company’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $157.95, for a total transaction of $110,565.00. Following the completion of the sale, the director now directly owns 40,163 shares of the company’s stock, valued at $6,343,745.85. The disclosure for this sale can be found here. Insiders own 0.88% of the company’s stock.

Shares of NYSE:GPN traded up $2.96 during midday trading on Tuesday, hitting $159.10. 63,401 shares of the company’s stock were exchanged, compared to its average volume of 1,704,749. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.20. The business’s 50 day moving average price is $162.87. The stock has a market cap of $25.08 billion, a P/E ratio of 30.62, a PEG ratio of 1.63 and a beta of 1.01. Global Payments Inc has a 12 month low of $94.81 and a 12 month high of $172.20.

Global Payments (NYSE:GPN) last posted its earnings results on Tuesday, July 30th. The business services provider reported $1.51 EPS for the quarter, topping the consensus estimate of $1.46 by $0.05. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.11 billion. Global Payments had a net margin of 13.62% and a return on equity of 20.36%. The firm’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.29 earnings per share. Analysts expect that Global Payments Inc will post 5.82 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend is Thursday, September 12th. Global Payments’s payout ratio is presently 0.77%.

Several equities analysts have recently weighed in on the stock. Bank of America upped their price objective on shares of Global Payments from $160.00 to $180.00 and gave the company a “buy” rating in a report on Monday, June 17th. Cantor Fitzgerald upped their price objective on shares of Global Payments from $143.00 to $163.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. BMO Capital Markets lowered shares of Global Payments from an “outperform” rating to a “market perform” rating and upped their price objective for the company from $164.00 to $173.00 in a report on Wednesday, May 29th. Zacks Investment Research upgraded shares of Global Payments from a “sell” rating to a “hold” rating and set a $163.00 price objective on the stock in a report on Tuesday, May 7th. Finally, Wedbush upped their price objective on shares of Global Payments from $168.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, July 15th. One research analyst has rated the stock with a sell rating, four have given a hold rating and nineteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $164.74.

Global Payments Company Profile

Global Payments Inc provides payment technology and software solutions for card, electronic, check, and digital-based payments. The company operates in three segments: North America, Europe, and Asia-Pacific. It offers authorization services, settlement and funding services, customer support and help-desk functions, chargeback resolution, terminal rental, sales and deployment, payment security services, consolidated billing and statements, and online reporting services.

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Institutional Ownership by Quarter for Global Payments (NYSE:GPN)

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