Riverhead Capital Management LLC lifted its stake in Global Payments Inc (NYSE:GPN) by 9.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,838 shares of the business services provider’s stock after acquiring an additional 519 shares during the period. Riverhead Capital Management LLC’s holdings in Global Payments were worth $651,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Catalyst Capital Advisors LLC acquired a new stake in shares of Global Payments in the first quarter worth $2,063,000. Cambridge Investment Research Advisors Inc. grew its stake in shares of Global Payments by 8.2% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 5,863 shares of the business services provider’s stock worth $654,000 after acquiring an additional 443 shares during the last quarter. Aperio Group LLC grew its stake in shares of Global Payments by 13.8% in the first quarter. Aperio Group LLC now owns 36,398 shares of the business services provider’s stock worth $4,059,000 after acquiring an additional 4,416 shares during the last quarter. Quantitative Systematic Strategies LLC acquired a new stake in shares of Global Payments in the first quarter worth $202,000. Finally, Rational Advisors LLC acquired a new stake in shares of Global Payments in the first quarter worth $457,000. Institutional investors and hedge funds own 96.28% of the company’s stock.
In other news, Director William I. Jacobs sold 10,181 shares of the business’s stock in a transaction on Thursday, June 14th. The shares were sold at an average price of $119.06, for a total value of $1,212,149.86. Following the sale, the director now owns 37,000 shares in the company, valued at approximately $4,405,220. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert H. B. Baldwin, Jr. sold 6,000 shares of the business’s stock in a transaction on 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 disclosure for this sale can be found here. Insiders sold a total of 39,137 shares of company stock worth $4,735,097 in the last 90 days. 0.98% of the stock is owned by corporate insiders.
Shares of NYSE:GPN opened at $123.73 on Friday. Global Payments Inc has a 52 week low of $92.97 and a 52 week high of $125.78. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.09 and a current ratio of 1.09. The firm has a market capitalization of $19.66 billion, a PE ratio of 27.74, a PEG ratio of 1.48 and a beta of 1.20.
Global Payments (NYSE:GPN) last issued its earnings results on Thursday, August 2nd. The business services provider reported $1.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.22 by $0.07. Global Payments had a net margin of 14.86% and a return on equity of 17.99%. The company had revenue of $982.50 million for the quarter, compared to the consensus estimate of $968.75 million. During the same quarter in the previous year, the company earned $0.94 EPS. The firm’s revenue for the quarter was up 18.1% compared to the same quarter last year. sell-side 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 paid 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 is presently 2.99%.
Several brokerages have recently issued reports on GPN. Zacks Investment Research upgraded shares of Global Payments from a “hold” rating to a “buy” rating and set a $124.00 price objective on the stock in a research note on Wednesday, June 27th. Cfra restated a “hold” rating and issued a $119.00 price objective on shares of Global Payments in a research note on Thursday, August 2nd. ValuEngine upgraded shares of Global Payments from a “hold” rating to a “buy” rating in a research note on Friday, August 3rd. Morgan Stanley raised their price objective on shares of Global Payments from $124.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Friday, August 3rd. Finally, Nomura reiterated a “sell” rating and set a $97.00 price target on shares of Global Payments in a research note on Monday, August 6th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and twenty-four have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $117.15.
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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