Global Payments Inc. (GPN) Position Reduced by State Board of Administration of Florida Retirement System
State Board of Administration of Florida Retirement System reduced its position in shares of Global Payments Inc. (NYSE:GPN) by 0.7% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 229,350 shares of the business services provider’s stock after selling 1,675 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.15% of Global Payments worth $20,715,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GPN. Morgan Dempsey Capital Management LLC boosted its position in Global Payments by 86.6% in the first quarter. Morgan Dempsey Capital Management LLC now owns 2,004 shares of the business services provider’s stock worth $162,000 after buying an additional 930 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. boosted its position in Global Payments by 84.8% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,033 shares of the business services provider’s stock worth $164,000 after buying an additional 933 shares in the last quarter. Point72 Asia Hong Kong Ltd acquired a new position in Global Payments during the first quarter worth approximately $200,000. Lakeview Capital Partners LLC acquired a new position in Global Payments during the second quarter worth approximately $200,000. Finally, BlueCrest Capital Management Ltd acquired a new position in Global Payments during the first quarter worth approximately $203,000. Hedge funds and other institutional investors own 98.62% of the company’s stock.
Shares of Global Payments Inc. (GPN) opened at 93.35 on Friday. The stock has a 50 day moving average price of $93.74 and a 200 day moving average price of $86.42. Global Payments Inc. has a 52 week low of $64.63 and a 52 week high of $97.99. The firm has a market capitalization of $14.23 billion, a PE ratio of 72.42 and a beta of 1.09.
Global Payments (NYSE:GPN) last announced its quarterly earnings results on Thursday, August 3rd. The business services provider reported $0.94 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.07. Global Payments had a net margin of 6.65% and a return on equity of 18.32%. 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 prior year, the business posted $0.76 EPS. Global Payments’s quarterly revenue was up 18.4% on a year-over-year basis. Equities analysts forecast that Global Payments Inc. will post $3.95 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid a dividend of $0.01 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.04 annualized dividend and a dividend yield of 0.04%. Global Payments’s dividend payout ratio (DPR) is 3.07%.
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A number of research analysts recently commented on the company. Stifel Nicolaus assumed coverage on Global Payments in a report on Thursday, June 1st. They issued a “buy” rating and a $102.00 price objective on the stock. BMO Capital Markets upped their price objective on Global Payments from $91.00 to $93.00 and gave the company an “outperform” rating in a report on Monday, May 15th. Credit Suisse Group upped their price objective on Global Payments from $86.00 to $91.00 and gave the company an “outperform” rating in a report on Monday, May 15th. Wells Fargo & Company upgraded Global Payments from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $90.00 to $110.00 in a report on Friday, August 4th. Finally, Barclays PLC reiterated a “buy” rating and issued a $96.00 price objective on shares of Global Payments in a report on Friday, May 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eighteen have given a buy rating to the company’s stock. Global Payments currently has a consensus rating of “Buy” and a consensus price target of $94.58.
In other news, Director Ruth Ann Marshall sold 5,402 shares of the stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $92.26, for a total transaction of $498,388.52. Following the transaction, the director now owns 41,476 shares in the company, valued at approximately $3,826,575.76. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robert H. B. Baldwin, Jr. sold 7,500 shares of the stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $93.19, for a total transaction of $698,925.00. Following the transaction, the director now owns 197,377 shares in the company, valued at approximately $18,393,562.63. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 146,451 shares of company stock worth $13,808,715. 0.93% of the stock is currently owned by company 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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