Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in shares of Global Payments Inc. (NYSE:GPN) by 8.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 37,190 shares of the business services provider’s stock after purchasing an additional 2,789 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Global Payments were worth $3,534,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Global Payments by 3.0% during the second quarter. Vanguard Group Inc. now owns 15,211,802 shares of the business services provider’s stock valued at $1,373,930,000 after purchasing an additional 448,864 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Global Payments by 162.0% in the second quarter. JPMorgan Chase & Co. now owns 3,284,298 shares of the business services provider’s stock valued at $296,636,000 after buying an additional 2,030,880 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of Global Payments by 11,779.8% in the second quarter. Janus Henderson Group PLC now owns 2,292,798 shares of the business services provider’s stock valued at $207,086,000 after buying an additional 2,273,498 shares during the period. Capital International Investors acquired a new position in shares of Global Payments in the second quarter valued at approximately $173,900,000. Finally, Frontier Capital Management Co. LLC boosted its holdings in shares of Global Payments by 0.9% in the third quarter. Frontier Capital Management Co. LLC now owns 1,836,396 shares of the business services provider’s stock valued at $174,513,000 after buying an additional 16,898 shares during the period. Hedge funds and other institutional investors own 97.90% of the company’s stock.
In other news, Director William I. Jacobs sold 600 shares of the stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $98.00, for a total value of $58,800.00. Following the transaction, the director now directly owns 40,075 shares of the company’s stock, valued at $3,927,350. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William I. Jacobs sold 8,428 shares of the stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $94.05, for a total transaction of $792,653.40. Following the completion of the transaction, the director now directly owns 40,675 shares in the company, valued at $3,825,483.75. The disclosure for this sale can be found here. Insiders sold 71,555 shares of company stock worth $6,951,810 over the last three months. Insiders own 0.93% of the company’s stock.
Global Payments (NYSE:GPN) last issued its quarterly earnings data on Wednesday, November 8th. The business services provider reported $1.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.03 by $0.12. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $917.31 million. Global Payments had a net margin of 7.14% and a return on equity of 18.50%. The company’s revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.89 earnings per share. sell-side analysts predict that Global Payments Inc. will post 3.81 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.04%. The ex-dividend date of this dividend is Thursday, December 14th. Global Payments’s payout ratio is presently 2.23%.
Several research analysts have recently weighed in on GPN shares. William Blair reiterated an “outperform” rating on shares of Global Payments in a report on Monday, July 24th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $100.00 price target on shares of Global Payments in a report on Thursday, August 3rd. Royal Bank Of Canada reduced their price target on shares of Global Payments from $103.00 to $90.00 and set an “outperform” rating for the company in a report on Friday, August 4th. Barclays PLC upped their price target on shares of Global Payments from $98.00 to $105.00 and gave the company an “overweight” rating in a report on Friday, August 4th. Finally, Compass Point cut shares of Global Payments from a “buy” rating to a “neutral” rating and upped their price target for the company from $95.72 to $96.00 in a report on Friday, August 4th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-three have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $105.01.
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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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