NGAM Advisors L.P. cut its stake in shares of Global Payments Inc. (NYSE:GPN) by 35.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 43,364 shares of the business services provider’s stock after selling 24,062 shares during the period. NGAM Advisors L.P.’s holdings in Global Payments were worth $3,916,000 as of its most recent filing with the SEC.
Other institutional investors have also made changes to their positions in the company. Candriam Luxembourg S.C.A. increased its stake in Global Payments by 36.8% in the first quarter. Candriam Luxembourg S.C.A. now owns 9,645 shares of the business services provider’s stock valued at $778,000 after buying an additional 2,597 shares in the last quarter. State of Alaska Department of Revenue purchased a new stake in Global Payments during the first quarter valued at about $409,000. DnB Asset Management AS boosted its position in Global Payments by 24.4% in the first quarter. DnB Asset Management AS now owns 16,800 shares of the business services provider’s stock valued at $1,355,000 after buying an additional 3,300 shares in the last quarter. Atria Investments LLC acquired a new position in Global Payments during the first quarter valued at about $231,000. Finally, Parametrica Management Ltd acquired a new position in Global Payments during the first quarter valued at about $697,000. 98.62% of the stock is currently owned by institutional investors and hedge funds.
Global Payments Inc. (NYSE:GPN) traded up 0.10% on Friday, reaching $93.76. The company’s stock had a trading volume of 773,087 shares. The stock has a 50 day moving average price of $93.16 and a 200-day moving average price of $85.81. Global Payments Inc. has a 1-year low of $64.63 and a 1-year high of $97.99. The company has a market capitalization of $14.30 billion, a price-to-earnings ratio of 72.74 and a beta of 1.09.
Global Payments (NYSE:GPN) last issued its quarterly earnings results on Thursday, August 3rd. The business services provider reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.07. Global Payments had a net margin of 6.65% and a return on equity of 18.32%. The firm had revenue of $847.90 million for the quarter, compared to analyst estimates of $837.76 million. During the same period in the previous year, the business earned $0.76 EPS. The company’s revenue was up 18.4% compared to the same quarter last year. Equities analysts predict that Global Payments Inc. will post $3.95 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.04%. The ex-dividend date of this dividend is Thursday, September 14th. Global Payments’s dividend payout ratio (DPR) is presently 3.07%.
A number of analysts recently issued reports on GPN shares. Stifel Nicolaus reissued a “buy” rating and issued a $103.00 target price (up from $102.00) on shares of Global Payments in a research report on Friday, August 4th. Wells Fargo & Company raised Global Payments from a “market perform” rating to an “outperform” rating and upped their target price for the company from $90.00 to $110.00 in a research report on Friday, August 4th. Compass Point cut Global Payments from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $95.72 to $96.00 in a research report on Friday, August 4th. Barclays PLC increased their price objective on Global Payments from $98.00 to $105.00 and gave the stock an “overweight” rating in a research report on Friday, August 4th. Finally, Royal Bank Of Canada decreased their price objective on Global Payments from $103.00 to $90.00 and set an “outperform” rating for the company in a research report on Friday, August 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eighteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $94.58.
In other Global Payments news, Director Robert H. B. Baldwin, Jr. sold 7,500 shares of the business’s stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $93.19, for a total value of $698,925.00. Following the completion of the sale, the director now owns 197,377 shares of the company’s stock, valued at approximately $18,393,562.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William I. Jacobs sold 600 shares of the business’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $94.20, for a total transaction of $56,520.00. Following the completion of the sale, the director now directly owns 49,103 shares of the company’s stock, valued at approximately $4,625,502.60. The disclosure for this sale can be found here. In the last three months, insiders sold 111,496 shares of company stock valued at $10,491,048. Insiders own 0.93% of the company’s stock.
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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