Coastline Trust Co lessened its stake in shares of Global Payments Inc (NYSE:GPN) by 2.7% during the third quarter, HoldingsChannel reports. The firm owned 22,940 shares of the business services provider’s stock after selling 640 shares during the period. Coastline Trust Co’s holdings in Global Payments were worth $2,923,000 as of its most recent SEC filing.
Several other hedge funds also recently added to or reduced their stakes in the company. First American Bank bought a new position in shares of Global Payments during the 3rd quarter worth about $7,758,000. First Hawaiian Bank acquired a new stake in shares of Global Payments in the 3rd quarter worth about $124,000. Zweig DiMenna Associates LLC acquired a new stake in shares of Global Payments in the 3rd quarter worth about $2,166,000. Bank of Montreal Can raised its holdings in shares of Global Payments by 16.3% in the 3rd quarter. Bank of Montreal Can now owns 174,287 shares of the business services provider’s stock worth $22,204,000 after acquiring an additional 24,415 shares during the last quarter. Finally, Rathbone Brothers plc raised its holdings in shares of Global Payments by 2.6% in the 3rd quarter. Rathbone Brothers plc now owns 267,796 shares of the business services provider’s stock worth $34,117,000 after acquiring an additional 6,696 shares during the last quarter. 96.31% of the stock is currently owned by institutional investors.
NYSE:GPN traded up $0.06 on Wednesday, hitting $119.89. The stock had a trading volume of 71,125 shares, compared to its average volume of 1,046,190. 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 cap of $20.15 billion, a price-to-earnings ratio of 29.66, a price-to-earnings-growth ratio of 1.51 and a beta of 1.19. Global Payments Inc has a 1 year low of $95.32 and a 1 year high of $129.25.
Global Payments (NYSE:GPN) last posted its quarterly earnings data 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. 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 company’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same quarter last year, the business posted $0.94 EPS. As a group, sell-side analysts forecast that Global Payments Inc will post 4.87 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 28th. Shareholders of record on Friday, September 14th were paid a $0.01 dividend. The ex-dividend date of this dividend was Thursday, September 13th. This represents a $0.04 annualized dividend and a yield of 0.03%. Global Payments’s dividend payout ratio (DPR) is 1.00%.
In other news, Director Robert H. B. Baldwin, Jr. sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 14th. The shares were sold at an average price of $117.93, for a total transaction of $353,790.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Cameron M. Bready sold 57,737 shares of the firm’s stock in a transaction that occurred on Wednesday, September 12th. The stock was sold at an average price of $127.78, for a total transaction of $7,377,633.86. Following the sale, the insider now owns 189,083 shares of the company’s stock, valued at approximately $24,161,025.74. The disclosure for this sale can be found here. In the last quarter, insiders sold 89,830 shares of company stock valued at $11,410,834. Company insiders own 0.98% of the company’s stock.
A number of equities research analysts recently weighed in on the stock. Deutsche Bank upped their target price on shares of Global Payments to $140.00 and gave the stock a “buy” rating in a report on Friday, September 14th. BMO Capital Markets assumed coverage on shares of Global Payments in a report on Wednesday, September 26th. They issued an “outperform” rating and a $139.00 target price on the stock. Wedbush upped their target price on shares of Global Payments from $120.00 to $135.00 and gave the stock an “outperform” rating in a report on Tuesday, August 28th. Buckingham Research upped their target price on shares of Global Payments from $120.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, August 3rd. Finally, Cantor Fitzgerald restated a “buy” rating and issued a $136.00 target price on shares of Global Payments in a report on Friday, August 3rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-one have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $119.58.
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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