Paradice Investment Management LLC trimmed its position in shares of Global Payments Inc (NYSE:GPN) by 23.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 355,933 shares of the business services provider’s stock after selling 111,047 shares during the quarter. Global Payments accounts for approximately 3.1% of Paradice Investment Management LLC’s portfolio, making the stock its 18th largest holding. Paradice Investment Management LLC owned about 0.22% of Global Payments worth $45,346,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of GPN. TRUE Private Wealth Advisors purchased a new position in shares of Global Payments in the 3rd quarter worth about $112,000. Fort L.P. purchased a new position in shares of Global Payments in the 2nd quarter worth about $118,000. First Hawaiian Bank purchased a new position in shares of Global Payments in the 3rd quarter worth about $124,000. Signet Financial Management LLC purchased a new position in shares of Global Payments in the 2nd quarter worth about $134,000. Finally, CENTRAL TRUST Co boosted its holdings in shares of Global Payments by 274.4% in the 3rd quarter. CENTRAL TRUST Co now owns 1,449 shares of the business services provider’s stock worth $185,000 after buying an additional 1,062 shares during the last quarter. 96.36% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Cameron M. Bready sold 57,737 shares of the company’s stock in a transaction dated 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 directly owns 189,083 shares in the company, valued at $24,161,025.74. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, 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 sale, the director now owns 80,324 shares in the company, valued at $9,323,206.68. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 89,955 shares of company stock worth $11,419,763. Insiders own 0.98% of the company’s stock.
A number of equities analysts recently weighed in on the stock. Deutsche Bank boosted their price target 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 price target on the stock. Wedbush boosted their price target 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. Robert W. Baird boosted their price target on shares of Global Payments from $136.00 to $142.00 and gave the stock an “outperform” rating in a report on Wednesday, October 17th. Finally, Buckingham Research boosted their price target 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. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have issued a buy rating to the stock. Global Payments presently has a consensus rating of “Buy” and an average target price of $122.90.
NYSE GPN opened at $109.63 on Wednesday. The stock has a market cap of $17.29 billion, a price-to-earnings ratio of 27.34, a price-to-earnings-growth ratio of 1.29 and a beta of 1.18. Global Payments Inc has a 52 week low of $95.32 and a 52 week high of $129.25. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.13.
Global Payments (NYSE:GPN) last released its quarterly earnings data on Tuesday, October 30th. The business services provider reported $1.44 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.39 by $0.05. The business had revenue of $857.70 million for 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%. The company’s revenue was down 17.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.15 earnings per share. On average, analysts anticipate that Global Payments Inc will post 4.88 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Friday, December 14th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.04%. The ex-dividend date is Thursday, December 13th. Global Payments’s dividend payout ratio (DPR) is presently 1.00%.
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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