Axa lowered its position in Global Payments Inc. (NYSE:GPN) by 38.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 119,061 shares of the business services provider’s stock after selling 75,475 shares during the quarter. Axa owned about 0.08% of Global Payments worth $10,754,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Commonwealth Bank of Australia increased its holdings in shares of 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 worth $131,000 after purchasing an additional 176 shares during the period. Morgan Dempsey Capital Management LLC increased its holdings in shares of Global Payments by 86.6% in the first quarter. Morgan Dempsey Capital Management LLC now owns 2,004 shares of the business services provider’s stock worth $162,000 after purchasing an additional 930 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd. increased its holdings in shares of 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 worth $164,000 after purchasing an additional 933 shares during the period. Lakeview Capital Partners LLC bought a new position in shares of Global Payments in the second quarter worth $200,000. Finally, Usca Ria LLC bought a new position in shares of Global Payments in the second quarter worth $203,000. 97.87% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Alan M. Silberstein sold 600 shares of the company’s stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $89.91, for a total transaction of $53,946.00. Following the transaction, the director now directly owns 48,493 shares in the company, valued at approximately $4,360,005.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert H. B. Baldwin, Jr. sold 4,200 shares of the company’s stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $89.87, for a total transaction of $377,454.00. Following the transaction, the director now owns 195,477 shares in the company, valued at $17,567,517.99. The disclosure for this sale can be found here. Insiders have sold a total of 132,949 shares of company stock worth $12,557,401 over the last quarter. 0.93% of the stock is currently owned by insiders.
Several research firms have recently weighed in on GPN. J P Morgan Chase & Co upped their price target on shares of Global Payments from $106.00 to $107.00 and gave the stock an “overweight” rating in a report on Tuesday. Bank of America Corporation assumed coverage on Global Payments in a research note on Tuesday. They issued a “buy” rating and a $110.00 target price on the stock. Cowen and Company reissued a “buy” rating and issued a $102.00 target price on shares of Global Payments in a research note on Friday, September 8th. Royal Bank Of Canada reissued a “buy” rating and issued a $103.00 target price on shares of Global Payments in a research note on Wednesday, September 6th. Finally, Robert W. Baird reissued a “buy” rating and issued a $106.00 target price on shares of Global Payments in a research note on Tuesday, September 5th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twenty-one have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $97.34.
Shares of Global Payments Inc. (NYSE:GPN) opened at 98.08 on Wednesday. The stock’s 50 day moving average is $94.95 and its 200-day moving average is $87.73. Global Payments Inc. has a 12-month low of $64.63 and a 12-month high of $98.14. The stock has a market capitalization of $14.96 billion, a price-to-earnings ratio of 76.09 and a beta of 1.11.
Global Payments (NYSE:GPN) last issued its quarterly earnings results on Thursday, August 3rd. The business services provider reported $0.94 EPS for the quarter, beating the consensus estimate of $0.87 by $0.07. The company had revenue of $847.90 million for the quarter, compared to the consensus estimate of $837.76 million. Global Payments had a net margin of 6.65% and a return on equity of 18.32%. The firm’s revenue was up 18.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.76 EPS. On average, analysts expect that Global Payments Inc. will post $3.95 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a dividend of $0.01 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.04 annualized dividend and a yield of 0.04%. Global Payments’s payout ratio is 3.07%.
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.
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