Stifel Financial Corp Boosts Stake in Global Payments Inc. (GPN)
Stifel Financial Corp lifted its position in shares of Global Payments Inc. (NYSE:GPN) by 18.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 129,313 shares of the business services provider’s stock after acquiring an additional 20,001 shares during the quarter. Stifel Financial Corp owned 0.08% of Global Payments worth $11,685,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Thompson Davis & CO. Inc. grew its holdings in shares of Global Payments by 0.8% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 1,197 shares of the business services provider’s stock worth $108,000 after acquiring an additional 10 shares during the period. Commonwealth Bank of Australia increased its stake in Global Payments by 13.6% in the 2nd quarter. Commonwealth Bank of Australia now owns 1,466 shares of the business services provider’s stock valued at $131,000 after purchasing an additional 176 shares in the last quarter. Stephens Inc. AR purchased a new position in Global Payments in the 2nd quarter valued at approximately $143,000. OLD Mutual Customised Solutions Proprietary Ltd. increased its stake in Global Payments by 84.8% in the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,033 shares of the business services provider’s stock valued at $164,000 after purchasing an additional 933 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its stake in Global Payments by 28.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,819 shares of the business services provider’s stock valued at $164,000 after purchasing an additional 400 shares in the last quarter. 97.84% of the stock is currently owned by institutional investors and hedge funds.
Global Payments Inc. (NYSE:GPN) opened at 96.13 on Tuesday. The firm has a market cap of $14.66 billion, a price-to-earnings ratio of 74.58 and a beta of 1.11. The firm has a 50 day moving average of $95.23 and a 200-day moving average of $89.50. Global Payments Inc. has a one year low of $64.63 and a one year high of $98.14.
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, beating analysts’ consensus estimates of $0.87 by $0.07. The company 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 firm’s quarterly revenue was up 18.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.76 EPS. Equities research analysts forecast that Global Payments Inc. will post $3.95 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were issued 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 was Thursday, September 14th. Global Payments’s dividend payout ratio is currently 2.45%.
In other Global Payments news, Director William I. Jacobs sold 600 shares of the company’s stock in a transaction that occurred on Thursday, July 13th. The shares were sold at an average price of $90.52, for a total value of $54,312.00. Following the transaction, the director now owns 41,275 shares in the company, valued at approximately $3,736,213. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Robert H. B. Baldwin, Jr. sold 4,200 shares of the company’s stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $89.87, for a total transaction of $377,454.00. Following the completion of the transaction, the director now owns 195,477 shares in the company, valued at approximately $17,567,517.99. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 141,749 shares of company stock valued at $13,421,277. 0.93% of the stock is currently owned by corporate insiders.
GPN has been the topic of several research reports. Robert W. Baird upped their target price on Global Payments from $106.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, September 28th. Stifel Nicolaus reaffirmed a “buy” rating and set a $103.00 price target (up previously from $102.00) on shares of Global Payments in a research note on Friday, August 4th. Buckingham Research assumed coverage on Global Payments in a research note on Monday. They set a “buy” rating and a $113.00 price target for the company. Barclays PLC boosted their price objective on shares of Global Payments from $98.00 to $105.00 and gave the stock an “overweight” rating in a research report on Friday, August 4th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $100.00 price objective on shares of Global Payments in a research report on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-one have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $99.01.
ILLEGAL ACTIVITY WARNING: “Stifel Financial Corp Boosts Stake in Global Payments Inc. (GPN)” was originally published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this story on another domain, it was stolen and reposted in violation of US & international copyright and trademark law. The legal version of this story can be read at https://www.thecerbatgem.com/2017/10/03/stifel-financial-corp-boosts-stake-in-global-payments-inc-gpn.html.
Global Payments Company Profile
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.
Want to see what other hedge funds are holding GPN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Global Payments Inc. (NYSE:GPN).
Receive News & Stock Ratings for Global Payments Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Global Payments Inc. and related stocks with our FREE daily email newsletter.