Stephens Investment Management Group LLC raised its holdings in Global Payments Inc. (NYSE:GPN) by 97.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 39,111 shares of the business services provider’s stock after acquiring an additional 19,275 shares during the period. Stephens Investment Management Group LLC’s holdings in Global Payments were worth $3,717,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in GPN. JPMorgan Chase & Co. grew its stake in shares of Global Payments by 162.0% in the 2nd 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. North Star Asset Management Inc. grew its stake in shares of Global Payments by 0.9% in the 3rd quarter. North Star Asset Management Inc. now owns 176,000 shares of the business services provider’s stock valued at $14,200,000 after buying an additional 1,637 shares during the period. Aviva PLC grew its stake in shares of Global Payments by 0.6% in the 2nd quarter. Aviva PLC now owns 93,792 shares of the business services provider’s stock valued at $8,472,000 after buying an additional 560 shares during the period. Nationwide Fund Advisors grew its stake in shares of Global Payments by 3.5% in the 2nd quarter. Nationwide Fund Advisors now owns 259,572 shares of the business services provider’s stock valued at $23,445,000 after buying an additional 8,821 shares during the period. Finally, Shelton Capital Management grew its stake in shares of Global Payments by 13.0% in the 2nd quarter. Shelton Capital Management now owns 18,126 shares of the business services provider’s stock valued at $1,637,000 after buying an additional 2,086 shares during the period. Institutional investors own 91.13% of the company’s stock.
Shares of Global Payments Inc. (NYSE:GPN) traded down $0.78 on Thursday, hitting $102.43. 659,400 shares of the stock were exchanged, compared to its average volume of 1,116,641. Global Payments Inc. has a fifty-two week low of $65.91 and a fifty-two week high of $104.83. The firm has a market cap of $16,425.09, a price-to-earnings ratio of 27.75, a price-to-earnings-growth ratio of 1.90 and a beta of 1.14. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.14 and a quick ratio of 1.14.
Global Payments (NYSE:GPN) last announced its quarterly earnings data on Wednesday, November 8th. The business services provider reported $1.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.03 by $0.12. Global Payments had a net margin of 7.14% and a return on equity of 18.50%. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $917.31 million. During the same period last year, the business earned $0.89 EPS. The company’s revenue was up 9.1% on a year-over-year basis. equities research analysts expect that Global Payments Inc. will post 3.81 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.04%. Global Payments’s payout ratio is 2.23%.
Several analysts have recently weighed in on GPN shares. Piper Jaffray Companies increased their price target on shares of Global Payments to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, November 8th. Robert W. Baird increased their price target on shares of Global Payments from $106.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, September 28th. Nomura reissued a “sell” rating and issued a $83.00 price target on shares of Global Payments in a research note on Monday, October 16th. Morgan Stanley increased their price target on shares of Global Payments from $98.00 to $106.00 and gave the company an “equal weight” rating in a research note on Thursday, November 2nd. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $108.00 price target (up previously from $103.00) on shares of Global Payments in a research note on Thursday, November 9th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. Global Payments currently has a consensus rating of “Buy” and a consensus target price of $105.01.
In other news, Director Robert H. B. Baldwin, Jr. sold 26,000 shares of the firm’s stock in a transaction on Thursday, October 12th. The shares were sold at an average price of $99.82, for a total value of $2,595,320.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William I. Jacobs sold 600 shares of the firm’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $98.00, for a total transaction of $58,800.00. Following the completion of the sale, the director now owns 40,075 shares in the company, valued at $3,927,350. The disclosure for this sale can be found here. Insiders sold a total of 37,800 shares of company stock worth $3,750,676 over the last 90 days. Company insiders own 0.93% of the company’s stock.
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About Global Payments
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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