Cambridge Investment Research Advisors Inc. Has $609,000 Stake in Global Payments Inc (NYSE:GPN)

Cambridge Investment Research Advisors Inc. decreased its stake in shares of Global Payments Inc (NYSE:GPN) by 24.6% during the first quarter, Holdings Channel reports. The fund owned 4,459 shares of the business services provider’s stock after selling 1,451 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Global Payments were worth $609,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Conning Inc. increased its holdings in shares of Global Payments by 3.7% during the 1st quarter. Conning Inc. now owns 2,510 shares of the business services provider’s stock valued at $343,000 after acquiring an additional 90 shares during the last quarter. Nissay Asset Management Corp Japan ADV grew its holdings in Global Payments by 0.8% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 12,472 shares of the business services provider’s stock valued at $1,286,000 after buying an additional 99 shares during the last quarter. Bessemer Group Inc. grew its holdings in Global Payments by 35.7% in the 4th quarter. Bessemer Group Inc. now owns 407 shares of the business services provider’s stock valued at $43,000 after buying an additional 107 shares during the last quarter. Cornerstone Advisors Inc. grew its holdings in Global Payments by 114.9% in the 1st quarter. Cornerstone Advisors Inc. now owns 202 shares of the business services provider’s stock valued at $28,000 after buying an additional 108 shares during the last quarter. Finally, Strs Ohio grew its holdings in Global Payments by 6.5% in the 1st quarter. Strs Ohio now owns 2,051 shares of the business services provider’s stock valued at $280,000 after buying an additional 126 shares during the last quarter. 97.47% of the stock is currently owned by institutional investors and hedge funds.

NYSE GPN opened at $158.94 on Wednesday. The firm has a market capitalization of $25.29 billion, a PE ratio of 30.62, a PEG ratio of 1.63 and a beta of 1.07. Global Payments Inc has a 52 week low of $94.81 and a 52 week high of $162.81. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.25.

Global Payments (NYSE:GPN) last released its earnings results on Thursday, May 2nd. The business services provider reported $1.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.22 by $0.12. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Global Payments had a return on equity of 19.83% and a net margin of 13.69%. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same period last year, the firm earned $1.13 EPS. As a group, equities research analysts expect that Global Payments Inc will post 5.81 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. Global Payments’s dividend payout ratio (DPR) is currently 0.77%.

In other news, Director Alan M. Silberstein sold 700 shares of Global Payments stock in a transaction on Monday, April 15th. The stock was sold at an average price of $138.96, for a total value of $97,272.00. Following the completion of the sale, the director now directly owns 40,355 shares of the company’s stock, valued at approximately $5,607,730.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert H. B. Baldwin, Jr. sold 4,250 shares of Global Payments stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $146.36, for a total value of $622,030.00. Following the completion of the sale, the director now directly owns 48,382 shares of the company’s stock, valued at $7,081,189.52. The disclosure for this sale can be found here. 0.88% of the stock is currently owned by company insiders.

A number of brokerages have commented on GPN. Morgan Stanley raised their price objective on Global Payments from $128.00 to $137.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 7th. Cantor Fitzgerald raised their price objective on Global Payments from $143.00 to $163.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. Jefferies Financial Group assumed coverage on Global Payments in a research report on Thursday, February 28th. They issued a “buy” rating and a $150.00 price objective for the company. Guggenheim upgraded Global Payments from a “neutral” rating to a “buy” rating in a research report on Thursday, May 30th. Finally, Wedbush lifted their price objective on Global Payments from $135.00 to $144.00 and gave the company an “outperform” rating in a research report on Wednesday, March 13th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $146.31.

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Global Payments Company Profile

Global Payments Inc provides payment technology and software solutions for card, electronic, check, and digital-based payments. The company operates in three segments: North America, Europe, and Asia-Pacific. 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, and online reporting services.

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Institutional Ownership by Quarter for Global Payments (NYSE:GPN)

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