KBC Group NV raised its position in Global Payments (NYSE:GPN) by 653.6% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 191,369 shares of the business services provider’s stock after acquiring an additional 165,975 shares during the period. KBC Group NV owned about 0.12% of Global Payments worth $21,341,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Global Payments in the 4th quarter valued at approximately $120,000. SWS Partners bought a new stake in Global Payments in the 4th quarter valued at approximately $163,000. Tower Research Capital LLC TRC increased its position in shares of Global Payments by 2,412.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,658 shares of the business services provider’s stock worth $166,000 after purchasing an additional 1,592 shares during the last quarter. Quantitative Systematic Strategies LLC acquired a new position in shares of Global Payments during the 1st quarter worth approximately $202,000. Finally, Klingenstein Fields & Co. LLC acquired a new position in shares of Global Payments during the 4th quarter worth approximately $204,000. Hedge funds and other institutional investors own 96.38% of the company’s stock.
Global Payments opened at $113.68 on Tuesday, MarketBeat reports. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.01. The company has a market cap of $18.15 billion, a P/E ratio of 28.35, a price-to-earnings-growth ratio of 1.36 and a beta of 1.13. Global Payments has a 1-year low of $87.30 and a 1-year high of $118.94.
Global Payments (NYSE:GPN) last posted its earnings results on Thursday, May 3rd. The business services provider reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.03. The business had revenue of $924.30 million for the quarter, compared to analyst estimates of $914.06 million. Global Payments had a return on equity of 17.66% and a net margin of 13.27%. The firm’s revenue was up 17.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.85 EPS. equities analysts forecast that Global Payments will post 4.87 EPS for the current year.
Global Payments declared that its Board of Directors has approved a share repurchase plan on Thursday, February 15th that permits the company to repurchase $600.00 million in outstanding shares. This repurchase authorization permits the business services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 15th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.04%. The ex-dividend date of this dividend is Thursday, June 14th. Global Payments’s dividend payout ratio is 1.00%.
In other Global Payments news, Director William I. Jacobs sold 600 shares of the company’s stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $118.27, for a total value of $70,962.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Alan M. Silberstein sold 5,900 shares of the company’s stock in a transaction on Monday, March 19th. The shares were sold at an average price of $118.15, for a total value of $697,085.00. Following the completion of the transaction, the director now directly owns 46,497 shares in the company, valued at $5,493,620.55. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,648 shares of company stock worth $2,634,430. Insiders own 0.98% of the company’s stock.
Several research firms have weighed in on GPN. TheStreet lowered Global Payments from a “b” rating to a “c” rating in a research report on Thursday, May 3rd. Deutsche Bank boosted their price target on Global Payments and gave the stock a “buy” rating in a research report on Friday, February 16th. Morgan Stanley boosted their price target on Global Payments from $118.00 to $119.00 and gave the stock an “equal weight” rating in a research report on Friday, May 4th. KeyCorp reaffirmed an “overweight” rating and set a $125.00 price target (up previously from $120.00) on shares of Global Payments in a research report on Friday, March 2nd. Finally, Piper Jaffray Companies raised Global Payments from a “neutral” rating to an “overweight” rating in a research report on Friday, March 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-two have assigned a buy rating to the stock. Global Payments currently has an average rating of “Buy” and a consensus target price of $112.21.
Global Payments Company Profile
Global Payments Inc provides payment technology and software solutions for credit cards, debit cards, electronic payments, and check-related services. 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, online reporting, industry compliance, and payment card industry security services.
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