Global Payments Inc. (GPN) Shares Sold by Novare Capital Management LLC
Novare Capital Management LLC reduced its holdings in shares of Global Payments Inc. (NYSE:GPN) by 1.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 75,021 shares of the business services provider’s stock after selling 960 shares during the quarter. Global Payments accounts for 1.3% of Novare Capital Management LLC’s portfolio, making the stock its 19th largest position. Novare Capital Management LLC’s holdings in Global Payments were worth $7,129,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sun Life Financial INC grew its stake in Global Payments by 15,728.6% during the second quarter. Sun Life Financial INC now owns 1,108 shares of the business services provider’s stock worth $100,000 after buying an additional 1,101 shares during the period. Thompson Davis & CO. Inc. grew its stake in Global Payments by 0.8% during the second quarter. Thompson Davis & CO. Inc. now owns 1,197 shares of the business services provider’s stock worth $108,000 after buying an additional 10 shares during the period. Intellectus Partners LLC purchased a new stake in Global Payments during the second quarter worth approximately $128,000. Commonwealth Bank of Australia grew its stake in Global Payments by 13.6% during the second quarter. Commonwealth Bank of Australia now owns 1,466 shares of the business services provider’s stock worth $131,000 after buying an additional 176 shares during the period. Finally, Stephens Inc. AR purchased a new stake in Global Payments during the second quarter worth approximately $143,000. Institutional investors own 97.90% of the company’s stock.
In related news, Director Robert H. B. Baldwin, Jr. sold 26,000 shares of the stock in a transaction dated Thursday, October 12th. The shares were sold at an average price of $99.82, for a total value of $2,595,320.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Guido Francesco Sacchi sold 25,927 shares of the stock in a transaction dated 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 completion of the sale, the executive vice president now directly 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 ninety days, insiders sold 71,555 shares of company stock worth $6,951,810. Corporate insiders own 0.93% of the company’s stock.
Shares of Global Payments Inc. (NYSE:GPN) traded up $0.83 during trading hours on Friday, hitting $100.22. 862,500 shares of the company’s stock were exchanged, compared to its average volume of 1,123,265. The firm has a market capitalization of $15,817.16, a PE ratio of 26.72, a price-to-earnings-growth ratio of 1.83 and a beta of 1.14. Global Payments Inc. has a 52 week low of $65.91 and a 52 week high of $104.83. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.27.
Global Payments (NYSE:GPN) last issued its earnings results on Wednesday, November 8th. The business services provider reported $1.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.03 by $0.12. The company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $917.31 million. Global Payments had a net margin of 7.14% and a return on equity of 18.50%. The firm’s revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.89 earnings per share. sell-side analysts predict that Global Payments Inc. will post 3.81 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be issued a $0.01 dividend. The ex-dividend date is Thursday, December 14th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.04%. Global Payments’s dividend payout ratio (DPR) is presently 2.23%.
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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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