Wells Fargo & Company MN lessened its stake in shares of Global Payments Inc (NYSE:GPN) by 0.7% in the third quarter, HoldingsChannel.com reports. The firm owned 1,593,801 shares of the business services provider’s stock after selling 11,557 shares during the quarter. Wells Fargo & Company MN’s holdings in Global Payments were worth $203,050,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in the company. DnB Asset Management AS boosted its position in Global Payments by 4.0% in the second quarter. DnB Asset Management AS now owns 18,400 shares of the business services provider’s stock valued at $2,051,000 after buying an additional 700 shares in the last quarter. IFM Investors Pty Ltd boosted its position in Global Payments by 48.5% in the second quarter. IFM Investors Pty Ltd now owns 6,786 shares of the business services provider’s stock valued at $757,000 after buying an additional 2,217 shares in the last quarter. State of Alaska Department of Revenue boosted its position in Global Payments by 1.9% in the second quarter. State of Alaska Department of Revenue now owns 25,628 shares of the business services provider’s stock valued at $2,856,000 after buying an additional 469 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in Global Payments in the second quarter valued at about $1,037,000. Finally, Atria Investments LLC boosted its position in Global Payments by 32.9% in the second quarter. Atria Investments LLC now owns 7,725 shares of the business services provider’s stock valued at $861,000 after buying an additional 1,914 shares in the last quarter. 96.35% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have commented on GPN. KeyCorp restated a “buy” rating on shares of Global Payments in a research report on Friday, August 3rd. ValuEngine upgraded shares of Global Payments from a “hold” rating to a “buy” rating in a research report on Friday, August 3rd. Cfra restated a “hold” rating and issued a $119.00 price target on shares of Global Payments in a research report on Thursday, August 2nd. Guggenheim restated a “buy” rating and issued a $123.00 price target on shares of Global Payments in a research report on Tuesday, July 24th. Finally, Wedbush boosted their target price on shares of Global Payments from $120.00 to $135.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 28th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have assigned a buy rating to the company’s stock. Global Payments presently has an average rating of “Buy” and an average target price of $121.52.
In other Global Payments news, insider Cameron M. Bready sold 57,737 shares of the company’s stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $127.78, for a total value of $7,377,633.86. Following the completion of the sale, the insider now owns 189,083 shares of the company’s stock, valued at $24,161,025.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert H. B. Baldwin, Jr. sold 3,000 shares of the company’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 disclosure for this sale can be found here. Over the last three months, insiders have sold 92,955 shares of company stock valued at $11,773,553. 0.98% of the stock is currently owned by insiders.
GPN opened at $113.71 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.13. The company has a market cap of $17.74 billion, a P/E ratio of 28.36, a price-to-earnings-growth ratio of 1.32 and a beta of 1.18. Global Payments Inc has a fifty-two week low of $95.32 and a fifty-two week high of $129.25.
Global Payments (NYSE:GPN) last posted its quarterly earnings results on Tuesday, October 30th. The business services provider reported $1.44 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.39 by $0.05. The business had revenue of $857.70 million during the quarter, compared to the consensus estimate of $1.02 billion. Global Payments had a net margin of 17.48% and a return on equity of 18.38%. Global Payments’s revenue for the quarter was down 17.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.15 earnings per share. On average, equities research analysts anticipate that Global Payments Inc will post 4.88 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, December 14th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.04%. The ex-dividend date is Thursday, December 13th. Global Payments’s dividend payout ratio (DPR) is 1.00%.
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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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