Burney Co. boosted its stake in shares of Global Payments Inc (NYSE:GPN) by 3.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 23,342 shares of the business services provider’s stock after acquiring an additional 834 shares during the period. Burney Co.’s holdings in Global Payments were worth $2,602,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Catalyst Capital Advisors LLC purchased a new position in Global Payments during the first quarter valued at $2,063,000. Cambridge Investment Research Advisors Inc. grew its stake in shares of Global Payments by 8.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 5,863 shares of the business services provider’s stock worth $654,000 after buying an additional 443 shares in the last quarter. Aperio Group LLC grew its stake in shares of Global Payments by 13.8% in the 1st quarter. Aperio Group LLC now owns 36,398 shares of the business services provider’s stock worth $4,059,000 after buying an additional 4,416 shares in the last quarter. Quantitative Systematic Strategies LLC purchased a new position in shares of Global Payments in the 1st quarter worth $202,000. Finally, Xact Kapitalforvaltning AB grew its stake in shares of Global Payments by 16.9% in the 1st quarter. Xact Kapitalforvaltning AB now owns 16,440 shares of the business services provider’s stock worth $1,833,000 after buying an additional 2,380 shares in the last quarter. 96.33% of the stock is owned by institutional investors.
In related news, Director Robert H. B. Baldwin, Jr. sold 6,000 shares of Global Payments stock in a transaction dated Tuesday, June 12th. The shares were sold at an average price of $118.18, for a total transaction of $709,080.00. Following the completion of the sale, the director now owns 97,149 shares in the company, valued at approximately $11,481,068.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Alan M. Silberstein sold 600 shares of Global Payments stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $119.01, for a total transaction of $71,406.00. Following the sale, the director now owns 44,269 shares of the company’s stock, valued at approximately $5,268,453.69. The disclosure for this sale can be found here. Insiders sold a total of 23,981 shares of company stock valued at $2,838,930 in the last 90 days. Company insiders own 0.98% of the company’s stock.
A number of equities analysts have commented on GPN shares. Morgan Stanley lifted their price objective on shares of Global Payments from $119.00 to $124.00 and gave the stock a “$117.08” rating in a research note on Thursday, July 19th. Zacks Investment Research raised shares of Global Payments from a “hold” rating to a “buy” rating and set a $124.00 price objective for the company in a research note on Wednesday, June 27th. Citigroup lifted their price objective on shares of Global Payments from $125.00 to $136.00 and gave the stock a “buy” rating in a research note on Friday, July 13th. Guggenheim reissued a “buy” rating and issued a $123.00 price objective on shares of Global Payments in a research note on Tuesday, July 24th. Finally, Robert W. Baird reissued a “buy” rating and issued a $136.00 price objective on shares of Global Payments in a research note on Friday, July 20th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and twenty-four have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $117.15.
Global Payments stock opened at $125.51 on Wednesday. The stock has a market capitalization of $19.71 billion, a PE ratio of 27.81, a PEG ratio of 1.48 and a beta of 1.20. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.09 and a quick ratio of 1.09. Global Payments Inc has a 12-month low of $92.97 and a 12-month high of $125.78.
Global Payments (NYSE:GPN) last released its earnings results on Thursday, August 2nd. The business services provider reported $1.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.22 by $0.07. The firm had revenue of $982.50 million during the quarter, compared to analyst estimates of $968.75 million. Global Payments had a net margin of 14.86% and a return on equity of 17.99%. The business’s revenue was up 18.1% on a year-over-year basis. During the same quarter last year, the business earned $0.94 EPS. research analysts forecast that Global Payments Inc will post 4.87 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, September 14th will be issued a $0.01 dividend. The ex-dividend date is Thursday, September 13th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. Global Payments’s dividend payout ratio (DPR) is presently 2.99%.
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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