IFM Investors Pty Ltd Invests $393,000 in Global Payments Inc (GPN)
IFM Investors Pty Ltd purchased a new position in Global Payments Inc (NYSE:GPN) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 4,134 shares of the business services provider’s stock, valued at approximately $393,000.
Several other large investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Global Payments by 3.0% during the second quarter. Vanguard Group Inc. now owns 15,211,802 shares of the business services provider’s stock worth $1,373,930,000 after buying an additional 448,864 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Global Payments by 3.4% during the third quarter. JPMorgan Chase & Co. now owns 3,396,554 shares of the business services provider’s stock worth $319,071,000 after buying an additional 112,256 shares in the last quarter. Capital International Investors lifted its position in Global Payments by 39.1% during the third quarter. Capital International Investors now owns 2,678,334 shares of the business services provider’s stock worth $254,522,000 after buying an additional 752,962 shares in the last quarter. Janus Henderson Group PLC lifted its position in Global Payments by 0.4% during the third quarter. Janus Henderson Group PLC now owns 2,302,837 shares of the business services provider’s stock worth $218,838,000 after buying an additional 10,039 shares in the last quarter. Finally, Frontier Capital Management Co. LLC lifted its position in Global Payments by 0.9% during the third quarter. Frontier Capital Management Co. LLC now owns 1,836,396 shares of the business services provider’s stock worth $174,513,000 after buying an additional 16,898 shares in the last quarter. 98.97% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Robert H. B. Baldwin, Jr. sold 26,000 shares of Global Payments stock in a transaction on Thursday, October 12th. The stock was sold at an average price of $99.82, for a total value of $2,595,320.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Alan M. Silberstein sold 600 shares of Global Payments stock in a transaction on Monday, September 18th. The shares were sold at an average price of $97.70, for a total value of $58,620.00. Following the completion of the sale, the director now directly owns 46,693 shares of the company’s stock, valued at $4,561,906.10. The disclosure for this sale can be found here. Insiders sold 29,600 shares of company stock valued at $2,951,732 over the last ninety days. Insiders own 0.93% of the company’s stock.
Global Payments (NYSE:GPN) last issued its quarterly earnings data on Wednesday, November 8th. The business services provider reported $1.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.03 by $0.12. Global Payments had a return on equity of 18.50% and a net margin of 7.14%. The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $917.31 million. During the same period in the previous year, the firm posted $0.89 earnings per share. The company’s revenue was up 9.1% on a year-over-year basis. equities research analysts expect that Global Payments Inc will post 3.81 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.04%. Global Payments’s payout ratio is presently 2.23%.
GPN has been the topic of a number of analyst reports. Credit Suisse Group reiterated an “outperform” rating on shares of Global Payments in a research report on Tuesday, September 5th. Zacks Investment Research downgraded Global Payments from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. Deutsche Bank reiterated a “buy” rating and set a $115.00 price objective (up previously from $100.00) on shares of Global Payments in a research report on Tuesday, October 10th. Robert W. Baird reiterated a “buy” rating and set a $106.00 price objective on shares of Global Payments in a research report on Tuesday, September 5th. Finally, Nomura lifted their price objective on Global Payments from $83.00 to $85.00 and gave the stock a “reduce” rating in a research report on Thursday, November 9th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and twenty-three have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $105.01.
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Global Payments 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.
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