Great Lakes Advisors LLC Purchases Shares of 18,370 Global Payments Inc. (GPN)
Great Lakes Advisors LLC purchased a new position in Global Payments Inc. (NYSE:GPN) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 18,370 shares of the business services provider’s stock, valued at approximately $1,659,000.
A number of other institutional investors have also added to or reduced their stakes in the company. Macquarie Group Ltd. purchased a new position in Global Payments during the fourth quarter valued at approximately $473,000. Bank of Montreal Can raised its position in 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 valued at $5,473,000 after buying an additional 10,604 shares in the last quarter. State of Alaska Department of Revenue purchased a new position in Global Payments during the first quarter valued at approximately $409,000. Candriam Luxembourg S.C.A. raised its position in 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 valued at $778,000 after buying an additional 2,597 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. raised its position in 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 valued at $309,000 after buying an additional 185 shares in the last quarter. 97.89% of the stock is currently owned by institutional investors and hedge funds.
Shares of Global Payments Inc. (GPN) opened at 93.99 on Wednesday. The company’s 50-day moving average is $93.74 and its 200 day moving average is $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 $14.33 billion, a P/E ratio of 72.92 and a beta of 1.09.
Global Payments (NYSE:GPN) last released its earnings results on Thursday, August 3rd. The business services provider reported $0.94 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.07. The firm had revenue of $847.90 million for the quarter, compared to the consensus estimate of $837.76 million. Global Payments had a return on equity of 18.32% and a net margin of 6.65%. The company’s revenue for the quarter was up 18.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.76 EPS. Analysts expect that Global Payments Inc. will post $3.95 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.04%. The ex-dividend date is Thursday, September 14th. Global Payments’s dividend payout ratio is currently 3.07%.
Several research firms have commented on GPN. BidaskClub lowered shares of Global Payments from a “buy” rating to a “hold” rating in a report on Saturday. Stifel Nicolaus began coverage on shares of Global Payments in a report on Thursday, June 1st. They issued a “buy” rating and a $102.00 target price on the stock. BMO Capital Markets raised their target price on shares of 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 raised their target price on shares of Global Payments from $86.00 to $91.00 and gave the company an “outperform” rating in a report on Monday, May 15th. Finally, Wells Fargo & Company raised shares of Global Payments from a “market perform” rating to an “outperform” rating and raised their target price for the company from $90.00 to $110.00 in a report on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eighteen have given a buy rating to the company. Global Payments currently has a consensus rating of “Buy” and an average target price of $94.58.
In other news, EVP Guido Francesco Sacchi sold 25,927 shares of the business’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $95.22, for a total transaction of $2,468,768.94. Following the transaction, the executive vice president now owns 34,622 shares of the company’s stock, valued at approximately $3,296,706.84. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director William I. Jacobs sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $90.00, for a total value of $54,000.00. Following the transaction, the director now directly owns 41,875 shares in the company, valued at approximately $3,768,750. The disclosure for this sale can be found here. In the last three months, insiders have sold 146,451 shares of company stock worth $13,808,715. Corporate insiders own 0.93% of the company’s stock.
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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