Legal & General Group Plc Has $57.50 Million Position in Global Payments Inc. (GPN)
Legal & General Group Plc raised its position in shares of Global Payments Inc. (NYSE:GPN) by 2.5% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 636,583 shares of the business services provider’s stock after buying an additional 15,664 shares during the period. Legal & General Group Plc owned about 0.42% of Global Payments worth $57,496,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of the stock. Point72 Asia Hong Kong Ltd acquired a new stake in Global Payments during the first quarter worth $200,000. IFP Advisors Inc boosted its stake in shares of Global Payments by 9.3% in the first quarter. IFP Advisors Inc now owns 6,420 shares of the business services provider’s stock valued at $518,000 after buying an additional 545 shares in the last quarter. Contravisory Investment Management Inc. purchased a new stake in shares of Global Payments during the second quarter valued at $246,000. Commerzbank Aktiengesellschaft FI purchased a new stake in shares of Global Payments during the first quarter valued at $233,000. Finally, OLD Mutual Customised Solutions Proprietary Ltd. boosted its stake in shares of 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 valued at $164,000 after buying an additional 933 shares in the last quarter. 97.89% of the stock is currently owned by institutional investors and hedge funds.
Global Payments Inc. (GPN) opened at 93.35 on Monday. The company has a 50-day moving average of $93.74 and a 200-day moving average of $86.42. Global Payments Inc. has a 52-week low of $64.63 and a 52-week high of $97.99. The company has a market cap of $14.23 billion, a P/E ratio of 72.42 and a beta of 1.09.
Global Payments (NYSE:GPN) last issued its earnings results on Thursday, August 3rd. The business services provider reported $0.94 earnings per share for the quarter, topping 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 business had revenue of $847.90 million during the quarter, compared to analyst estimates of $837.76 million. During the same quarter in the previous year, the firm earned $0.76 EPS. Global Payments’s revenue was up 18.4% on a year-over-year basis. On average, equities research analysts expect that Global Payments Inc. will post $3.95 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.04%. The ex-dividend date is Thursday, September 14th. Global Payments’s dividend payout ratio (DPR) is 3.07%.
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Several brokerages have weighed in on GPN. BMO Capital Markets upped their price objective on shares of Global Payments from $91.00 to $93.00 and gave the stock an “outperform” rating in a research note on Friday, May 5th. Keefe, Bruyette & Woods reaffirmed a “buy” rating on shares of Global Payments in a research note on Monday, May 15th. Royal Bank Of Canada decreased their price objective on shares of Global Payments from $103.00 to $90.00 and set an “outperform” rating on the stock in a research note on Friday, August 4th. Stifel Nicolaus reaffirmed a “buy” rating and set a $103.00 price objective (up from $102.00) on shares of Global Payments in a research note on Friday, August 4th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and set a $97.00 price objective (up from $93.00) on shares of Global Payments in a research note on Monday, May 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eighteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $94.58.
In other Global Payments news, Director Robert H. B. Baldwin, Jr. sold 4,200 shares of the business’s stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $89.87, for a total transaction of $377,454.00. Following the completion of the sale, the director now directly owns 195,477 shares in the company, valued at approximately $17,567,517.99. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider David E. Mangum sold 75,794 shares of the business’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $94.51, for a total value of $7,163,290.94. Following the sale, the insider now owns 112,930 shares of the company’s stock, valued at $10,673,014.30. The disclosure for this sale can be found here. In the last three months, insiders sold 146,451 shares of company stock valued at $13,808,715. 0.93% of the stock is owned by 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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