Global Payments Inc. (GPN) Stake Boosted by Oregon Public Employees Retirement Fund
Oregon Public Employees Retirement Fund raised its stake in Global Payments Inc. (NYSE:GPN) by 10.7% during the third quarter, according to its most recent disclosure with the SEC. The firm owned 39,537 shares of the company’s stock after buying an additional 3,809 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Global Payments were worth $3,035,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in GPN. Capital Fund Management S.A. boosted its position in Global Payments by 163.4% in the second quarter. Capital Fund Management S.A. now owns 464,283 shares of the company’s stock valued at $33,141,000 after buying an additional 288,045 shares during the last quarter. Bank of Montreal Can acquired a new position in Global Payments during the second quarter valued at about $7,668,000. Quantbot Technologies LP acquired a new position in Global Payments during the second quarter valued at about $5,365,000. Voloridge Investment Management LLC boosted its position in Global Payments by 231.0% in the second quarter. Voloridge Investment Management LLC now owns 176,737 shares of the company’s stock valued at $12,615,000 after buying an additional 123,337 shares during the last quarter. Finally, Panagora Asset Management Inc. boosted its position in Global Payments by 55.1% in the first quarter. Panagora Asset Management Inc. now owns 192,358 shares of the company’s stock valued at $12,561,000 after buying an additional 68,319 shares during the last quarter. 94.28% of the stock is owned by institutional investors.
Shares of Global Payments Inc. (NYSE:GPN) traded down 1.33% during midday trading on Tuesday, reaching $70.59. The company had a trading volume of 1,119,282 shares. The company’s 50-day moving average is $72.06 and its 200-day moving average is $74.42. Global Payments Inc. has a 52-week low of $51.29 and a 52-week high of $79.93. The firm has a market cap of $10.85 billion, a P/E ratio of 36.33 and a beta of 1.10.
Global Payments (NYSE:GPN) last issued its quarterly earnings data on Wednesday, October 5th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.83 by $0.03. Global Payments had a return on equity of 22.33% and a net margin of 8.74%. The firm earned $939.50 million during the quarter. During the same quarter in the previous year, the firm posted $0.79 EPS. The company’s revenue for the quarter was up 52.2% compared to the same quarter last year. Equities research analysts expect that Global Payments Inc. will post $3.51 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, November 25th. Stockholders of record on Friday, November 11th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Tuesday, November 8th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.06%. Global Payments’s payout ratio is currently 2.06%.
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Several research analysts have recently issued reports on GPN shares. Zacks Investment Research raised Global Payments from a “hold” rating to a “buy” rating and set a $86.00 price target for the company in a research note on Monday, October 3rd. Robert W. Baird reissued an “outperform” rating and issued a $85.00 price target on shares of Global Payments in a research note on Tuesday, September 6th. William Blair reissued an “outperform” rating on shares of Global Payments in a research note on Tuesday, September 27th. Compass Point raised Global Payments from a “neutral” rating to a “buy” rating and set a $77.00 price target for the company in a research note on Tuesday, November 15th. Finally, Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and set a $85.00 target price on shares of Global Payments in a research note on Wednesday, September 28th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eighteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $78.96.
In other news, EVP Guido Francesco Sacchi sold 11,102 shares of the business’s stock in a transaction on Tuesday, October 11th. The stock was sold at an average price of $73.80, for a total transaction of $819,327.60. Following the completion of the sale, the executive vice president now owns 23,904 shares in the company, valued at $1,764,115.20. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Robert H. B. Baldwin, Jr. sold 6,500 shares of the business’s stock in a transaction on Tuesday, October 18th. The stock was sold at an average price of $73.89, for a total value of $480,285.00. Following the sale, the director now owns 343,752 shares of the company’s stock, valued at approximately $25,399,835.28. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.
Global Payments Company Profile
Global Payments Inc is a provider of payment technology services. The Company provides payment and digital commerce solutions. The Company operates through three segments: North America, Europe and Asia-Pacific. The Company’s segments primarily provide payment solutions for credit cards, debit cards, electronic payments and check-related services.
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