River & Mercantile Asset Management LLP Purchases 151 Shares of Global Payments Inc. (GPN)
River & Mercantile Asset Management LLP boosted its position in shares of Global Payments Inc. (NYSE:GPN) by 0.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,291 shares of the business services provider’s stock after buying an additional 151 shares during the period. River & Mercantile Asset Management LLP’s holdings in Global Payments were worth $1,562,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Macquarie Group Ltd. purchased a new position in shares of Global Payments during the fourth quarter worth approximately $473,000. Bank of Montreal Can raised its position in shares of Global Payments by 18.5% in the first quarter. Bank of Montreal Can now owns 67,834 shares of the business services provider’s stock worth $5,473,000 after buying an additional 10,604 shares during the last quarter. State of Alaska Department of Revenue purchased a new position in shares of Global Payments during the first quarter worth approximately $409,000. Candriam Luxembourg S.C.A. raised its position in shares of Global Payments by 36.8% in the first quarter. Candriam Luxembourg S.C.A. now owns 9,645 shares of the business services provider’s stock worth $778,000 after buying an additional 2,597 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. raised its position in shares of Global Payments by 4.7% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 4,099 shares of the business services provider’s stock worth $309,000 after buying an additional 185 shares during the last quarter. Institutional investors and hedge funds own 97.89% of the company’s stock.
Global Payments Inc. (GPN) opened at 93.87 on Tuesday. The company has a market cap of $14.31 billion, a PE ratio of 72.82 and a beta of 1.09. Global Payments Inc. has a 12-month low of $64.63 and a 12-month high of $97.99. The company has a 50-day moving average price of $93.74 and a 200 day moving average price of $86.42.
Global Payments (NYSE:GPN) last announced its quarterly earnings results on Thursday, August 3rd. The business services provider reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $837.76 million. During the same quarter in the previous year, the business earned $0.76 EPS. Global Payments’s revenue was up 18.4% compared to the same quarter last year. On average, analysts forecast that Global Payments Inc. will post $3.95 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a dividend of $0.01 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.04 dividend on an annualized basis and a yield of 0.04%. Global Payments’s dividend payout ratio is presently 3.07%.
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GPN has been the subject of a number of recent research reports. Zacks Investment Research lowered Global Payments from a “hold” rating to a “sell” rating in a research note on Wednesday, May 3rd. Royal Bank Of Canada restated a “buy” rating and issued a $90.00 target price on shares of Global Payments in a research note on Friday, May 5th. Keefe, Bruyette & Woods restated a “buy” rating on shares of Global Payments in a research note on Friday, May 5th. Credit Suisse Group upped their target price on Global Payments from $86.00 to $91.00 and gave the company an “outperform” rating in a research note on Friday, May 5th. Finally, BMO Capital Markets upped their target price on Global Payments from $91.00 to $93.00 and gave the company an “outperform” rating in a research note on Friday, May 5th. One analyst has rated the stock with a sell rating, four have given a hold rating and eighteen have issued a buy rating to the company. Global Payments currently has a consensus rating of “Buy” and a consensus price target of $94.58.
In related news, Director Ruth Ann Marshall sold 5,402 shares of the business’s stock in a transaction dated Friday, June 2nd. The stock was 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 can be accessed through the SEC website. Also, EVP Guido Francesco Sacchi sold 25,927 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $95.22, for a total value of $2,468,768.94. Following the transaction, the executive vice president now owns 34,622 shares in the company, valued at approximately $3,296,706.84. 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 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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