Victory Capital Management Inc. increased its holdings in Global Payments Inc (NYSE:GPN) by 5.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 339,663 shares of the business services provider’s stock after purchasing an additional 16,294 shares during the quarter. Victory Capital Management Inc. owned approximately 0.21% of Global Payments worth $43,273,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of GPN. Robeco Institutional Asset Management B.V. raised its holdings in shares of Global Payments by 15.6% during the third quarter. Robeco Institutional Asset Management B.V. now owns 200,443 shares of the business services provider’s stock valued at $25,536,000 after purchasing an additional 27,045 shares during the period. Emerald Mutual Fund Advisers Trust acquired a new stake in shares of Global Payments in the 3rd quarter worth about $1,449,000. Spectrum Management Group Inc. raised its holdings in shares of Global Payments by 10.0% in the 3rd quarter. Spectrum Management Group Inc. now owns 12,867 shares of the business services provider’s stock worth $1,639,000 after acquiring an additional 1,165 shares during the last quarter. Frontier Capital Management Co. LLC raised its holdings in shares of Global Payments by 7.3% in the 3rd quarter. Frontier Capital Management Co. LLC now owns 1,936,436 shares of the business services provider’s stock worth $246,702,000 after acquiring an additional 132,080 shares during the last quarter. Finally, Checchi Capital Advisers LLC acquired a new stake in shares of Global Payments in the 3rd quarter worth about $232,000. 96.35% of the stock is currently owned by institutional investors.
In other Global Payments news, Director Robert H. B. Baldwin, Jr. sold 3,125 shares of the company’s stock in a transaction dated Tuesday, October 16th. The shares were sold at an average price of $116.07, for a total value of $362,718.75. Following the completion of the sale, the director now directly owns 80,324 shares of the company’s stock, valued at approximately $9,323,206.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alan M. Silberstein sold 600 shares of the company’s stock in a transaction dated Monday, August 20th. The stock was sold at an average price of $119.01, for a total transaction of $71,406.00. Following the completion of the sale, the director now directly owns 44,269 shares of the company’s stock, valued at $5,268,453.69. The disclosure for this sale can be found here. Insiders sold a total of 92,955 shares of company stock valued at $11,773,553 over the last ninety days. 0.98% of the stock is currently owned by insiders.
Shares of GPN stock opened at $112.17 on Friday. Global Payments Inc has a 52-week low of $95.32 and a 52-week high of $129.25. 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 stock has a market capitalization of $18.20 billion, a price-to-earnings ratio of 24.53, a PEG ratio of 1.36 and a beta of 1.18.
Global Payments (NYSE:GPN) last issued its quarterly earnings data on Tuesday, October 30th. The business services provider reported $1.44 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.39 by $0.05. Global Payments had a net margin of 17.48% and a return on equity of 18.38%. The business had revenue of $857.70 million during the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the prior year, the firm posted $1.15 EPS. The firm’s quarterly revenue was down 17.4% compared to the same quarter last year. On average, equities analysts expect that Global Payments Inc will post 4.88 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Friday, December 14th will be given 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, December 13th. Global Payments’s payout ratio is 1.00%.
A number of equities research analysts recently weighed in on GPN shares. Citigroup upped their target price on shares of Global Payments from $125.00 to $136.00 and gave the stock a “buy” rating in a report on Friday, July 13th. Wolfe Research started coverage on shares of Global Payments in a report on Tuesday, July 17th. They issued an “outperform” rating on the stock. Morgan Stanley upped their target price on shares of Global Payments from $119.00 to $124.00 and gave the stock a “$117.08” rating in a report on Thursday, July 19th. Robert W. Baird restated a “buy” rating and issued a $136.00 target price on shares of Global Payments in a report on Friday, July 20th. Finally, Zacks Investment Research lowered shares of Global Payments from a “hold” rating to a “sell” rating in a report on Monday, July 23rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have given a buy rating to the stock. Global Payments presently has an average rating of “Buy” and an average target price of $122.90.
Global Payments 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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