Russell Investments Group Ltd. Sells 41,654 Shares of Global Payments Inc. (GPN)
Russell Investments Group Ltd. cut its position in Global Payments Inc. (NYSE:GPN) by 42.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 56,329 shares of the business services provider’s stock after selling 41,654 shares during the period. Russell Investments Group Ltd.’s holdings in Global Payments were worth $5,088,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Value Holdings Management CO. LLC boosted its stake in Global Payments by 29.4% in the second quarter. Value Holdings Management CO. LLC now owns 219,600 shares of the business services provider’s stock worth $19,834,000 after buying an additional 49,906 shares in the last quarter. US Bancorp DE boosted its stake in Global Payments by 4.8% in the second quarter. US Bancorp DE now owns 32,900 shares of the business services provider’s stock valued at $2,972,000 after buying an additional 1,497 shares during the period. Aperio Group LLC boosted its stake in Global Payments by 26.5% in the second quarter. Aperio Group LLC now owns 32,874 shares of the business services provider’s stock valued at $2,969,000 after buying an additional 6,891 shares during the period. Louisiana State Employees Retirement System boosted its stake in Global Payments by 1.1% in the second quarter. Louisiana State Employees Retirement System now owns 9,500 shares of the business services provider’s stock valued at $858,000 after buying an additional 100 shares during the period. Finally, LS Investment Advisors LLC boosted its stake in Global Payments by 2.3% in the second quarter. LS Investment Advisors LLC now owns 4,506 shares of the business services provider’s stock valued at $407,000 after buying an additional 101 shares during the period. 98.62% of the stock is currently owned by hedge funds and other institutional investors.
Global Payments Inc. (NYSE GPN) traded down 1.22% on Wednesday, hitting $94.68. The stock had a trading volume of 265,084 shares. The company has a market cap of $14.44 billion, a price-to-earnings ratio of 73.45 and a beta of 1.09. The company has a 50 day moving average price of $93.28 and a 200-day moving average price of $86.06. Global Payments Inc. has a 52-week low of $64.63 and a 52-week high of $97.99.
Global Payments (NYSE:GPN) last announced its quarterly earnings data on Thursday, August 3rd. The business services provider reported $0.94 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.07. Global Payments had a return on equity of 18.32% and a net margin of 6.65%. The company had revenue of $847.90 million for the quarter, compared to analyst estimates of $837.76 million. During the same quarter in the previous year, the company earned $0.76 EPS. The firm’s revenue for the quarter was up 18.4% compared to the same quarter last year. On average, equities research analysts predict that Global Payments Inc. will post $3.95 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued 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, September 14th. Global Payments’s dividend payout ratio is presently 3.07%.
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GPN has been the topic of several recent analyst reports. Zacks Investment Research cut Global Payments from a “hold” rating to a “sell” rating in a research report on Wednesday, May 3rd. Royal Bank Of Canada reaffirmed a “buy” rating and set a $90.00 price objective on shares of Global Payments in a research report on Friday, May 5th. Keefe, Bruyette & Woods reaffirmed a “buy” rating on shares of Global Payments in a research report on Friday, May 5th. Credit Suisse Group increased their price objective on Global Payments from $86.00 to $91.00 and gave the company an “outperform” rating in a research report on Friday, May 5th. Finally, BMO Capital Markets increased their price objective on Global Payments from $91.00 to $93.00 and gave the company an “outperform” rating in a research report on Friday, May 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eighteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $94.58.
In other news, Director William I. Jacobs sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $90.00, for a total transaction of $54,000.00. Following the sale, the director now owns 41,875 shares of the company’s stock, valued at approximately $3,768,750. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider David E. Mangum sold 75,794 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $94.51, for a total value of $7,163,290.94. Following the sale, the insider now directly owns 112,930 shares in the company, valued at approximately $10,673,014.30. The disclosure for this sale can be found here. Insiders sold a total of 120,524 shares of company stock worth $11,339,946 in the last ninety days. 0.93% of the stock is owned by corporate insiders.
About Global Payments
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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