Global Payments Inc (GPN) Shares Bought by Los Angeles Capital Management & Equity Research Inc.
Los Angeles Capital Management & Equity Research Inc. boosted its stake in shares of Global Payments Inc (NYSE:GPN) by 10.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 32,365 shares of the business services provider’s stock after purchasing an additional 3,000 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in Global Payments were worth $4,123,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in GPN. TRUE Private Wealth Advisors purchased a new stake in Global Payments during the 3rd quarter worth approximately $112,000. Fort L.P. purchased a new stake in Global Payments during the 2nd quarter worth approximately $118,000. First Hawaiian Bank purchased a new stake in Global Payments during the 3rd quarter worth approximately $124,000. Signet Financial Management LLC purchased a new stake in Global Payments during the 2nd quarter worth approximately $134,000. Finally, CENTRAL TRUST Co grew its position in Global Payments by 274.4% during the 3rd quarter. CENTRAL TRUST Co now owns 1,449 shares of the business services provider’s stock worth $185,000 after purchasing an additional 1,062 shares during the last quarter. 96.36% of the stock is currently owned by institutional investors.
Shares of NYSE GPN opened at $109.42 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.13. Global Payments Inc has a 12 month low of $95.32 and a 12 month high of $129.25. The company has a market cap of $17.18 billion, a price-to-earnings ratio of 23.15, a price-to-earnings-growth ratio of 1.28 and a beta of 1.18.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, December 14th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.04%. The ex-dividend date is Thursday, December 13th. Global Payments’s dividend payout ratio is currently 1.00%.
In related news, Director Robert H. B. Baldwin, Jr. sold 4,125 shares of the business’s stock in a transaction on Friday, September 14th. The shares were sold at an average price of $128.76, for a total value of $531,135.00. Following the completion of the transaction, the director now directly owns 83,024 shares in the company, valued at approximately $10,690,170.24. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Alan M. Silberstein sold 600 shares of the business’s stock in a transaction on Monday, August 20th. The shares were sold at an average price of $119.01, for a total transaction of $71,406.00. Following the completion of the transaction, the director now owns 44,269 shares of the company’s stock, valued at $5,268,453.69. The disclosure for this sale can be found here. Over the last quarter, insiders sold 89,955 shares of company stock valued at $11,419,763. Company insiders own 0.98% of the company’s stock.
Several analysts have weighed in on GPN shares. BMO Capital Markets started coverage on shares of Global Payments in a research report on Wednesday, September 26th. They set an “outperform” rating and a $139.00 target price on the stock. Deutsche Bank boosted their target price on shares of Global Payments to $140.00 and gave the stock a “buy” rating in a research report on Friday, September 14th. Robert W. Baird boosted their target price on shares of Global Payments from $136.00 to $142.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 17th. Wedbush boosted their target price on shares of Global Payments from $120.00 to $135.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 28th. Finally, Cantor Fitzgerald restated a “buy” rating and set a $136.00 price objective on shares of Global Payments in a research note on Friday, August 3rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have given a buy rating to the stock. Global Payments currently has a consensus rating of “Buy” and an average price target of $123.30.
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Global Payments Company Profile
Global Payments Inc provides payment technology and software solutions for credit cards, debit cards, electronic payments, and check-related services. It offers authorization services, settlement and funding services, customer support and help-desk functions, chargeback resolution, terminal rental, sales and deployment, payment security services, consolidated billing and statements, online reporting, industry compliance, and payment card industry security services.
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