DNB Asset Management AS decreased its holdings in shares of Global Payments Inc (NYSE:GPN) by 12.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,877 shares of the business services provider’s stock after selling 2,465 shares during the quarter. DNB Asset Management AS’s holdings in Global Payments were worth $2,304,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Morgan Stanley lifted its holdings in Global Payments by 184.0% during the 3rd quarter. Morgan Stanley now owns 459,685 shares of the business services provider’s stock valued at $58,564,000 after purchasing an additional 297,842 shares during the last quarter. Psagot Investment House Ltd. lifted its holdings in Global Payments by 93.8% during the 4th quarter. Psagot Investment House Ltd. now owns 24,613 shares of the business services provider’s stock valued at $2,538,000 after purchasing an additional 11,913 shares during the last quarter. Exane Derivatives lifted its holdings in Global Payments by 43,286.4% during the 4th quarter. Exane Derivatives now owns 9,545 shares of the business services provider’s stock valued at $984,000 after purchasing an additional 9,523 shares during the last quarter. Groesbeck Investment Management Corp NJ acquired a new stake in Global Payments during the 4th quarter valued at $249,000. Finally, Nuveen Asset Management LLC lifted its holdings in Global Payments by 0.8% during the 4th quarter. Nuveen Asset Management LLC now owns 22,188 shares of the business services provider’s stock valued at $2,288,000 after purchasing an additional 182 shares during the last quarter. 98.80% of the stock is owned by institutional investors and hedge funds.
In other news, Director Alan M. Silberstein sold 700 shares of Global Payments stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $138.96, for a total transaction of $97,272.00. Following the sale, the director now directly owns 40,355 shares of the company’s stock, valued at $5,607,730.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alan M. Silberstein sold 4,276 shares of Global Payments stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $132.43, for a total value of $566,270.68. Following the sale, the director now directly owns 51,049 shares in the company, valued at $6,760,419.07. The disclosure for this sale can be found here. Insiders have sold 210,329 shares of company stock worth $27,306,584 over the last three months. Insiders own 0.88% of the company’s stock.
Several research analysts have weighed in on the company. Zacks Investment Research cut Global Payments from a “buy” rating to a “hold” rating in a research report on Tuesday. SunTrust Banks increased their price objective on Global Payments to $155.00 and gave the stock a “buy” rating in a research report on Tuesday. Atlantic Securities cut Global Payments from an “overweight” rating to a “neutral” rating and set a $133.36 price objective on the stock. in a research report on Thursday, March 21st. Wedbush increased their price objective on Global Payments from $135.00 to $144.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 13th. Finally, Jefferies Financial Group assumed coverage on Global Payments in a research report on Thursday, February 28th. They set a “buy” rating and a $150.00 price objective on the stock. One research analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have issued a buy rating to the company’s stock. Global Payments has a consensus rating of “Buy” and a consensus target price of $135.64.
Shares of GPN stock opened at $138.82 on Wednesday. Global Payments Inc has a 12 month low of $94.81 and a 12 month high of $139.82. The stock has a market cap of $21.83 billion, a PE ratio of 26.75, a PEG ratio of 1.46 and a beta of 1.20. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.20.
Global Payments (NYSE:GPN) last announced its quarterly earnings results on Wednesday, February 13th. The business services provider reported $1.33 EPS for the quarter, beating the Zacks’ consensus estimate of $1.25 by $0.08. Global Payments had a return on equity of 19.11% and a net margin of 13.43%. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period last year, the firm posted $1.07 earnings per share. The business’s revenue for the quarter was up 12.3% on a year-over-year basis. Equities analysts predict that Global Payments Inc will post 5.72 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend was Thursday, March 14th. Global Payments’s payout ratio is 0.77%.
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Global Payments Company Profile
Global Payments Inc provides payment technology and software solutions for card, electronic, check, and digital-based payments. The company operates in three segments: North America, Europe, and Asia-Pacific. 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, and online reporting services.
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