Gamco Investors INC. ET AL Invests $258,000 in Global Payments Inc (NYSE:GPN)

Gamco Investors INC. ET AL acquired a new position in shares of Global Payments Inc (NYSE:GPN) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 1,620 shares of the business services provider’s stock, valued at approximately $258,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Synovus Financial Corp lifted its position in Global Payments by 622,774.1% in the third quarter. Synovus Financial Corp now owns 9,293,282 shares of the business services provider’s stock worth $1,477,630,000 after purchasing an additional 9,291,790 shares during the period. IFM Investors Pty Ltd lifted its position in Global Payments by 178.6% in the third quarter. IFM Investors Pty Ltd now owns 32,121 shares of the business services provider’s stock worth $5,107,000 after purchasing an additional 20,590 shares during the period. Sigma Planning Corp lifted its position in Global Payments by 34.1% in the third quarter. Sigma Planning Corp now owns 1,854 shares of the business services provider’s stock worth $295,000 after purchasing an additional 471 shares during the period. Russell Investments Group Ltd. lifted its position in Global Payments by 84.0% in the third quarter. Russell Investments Group Ltd. now owns 155,694 shares of the business services provider’s stock worth $24,719,000 after purchasing an additional 71,083 shares during the period. Finally, Icon Advisers Inc. Co. lifted its position in Global Payments by 256.9% in the third quarter. Icon Advisers Inc. Co. now owns 68,519 shares of the business services provider’s stock worth $10,895,000 after purchasing an additional 49,319 shares during the period. Institutional investors and hedge funds own 97.09% of the company’s stock.

In other news, Director Ruth Ann Marshall sold 5,980 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $160.00, for a total value of $956,800.00. Following the transaction, the director now directly owns 44,657 shares of the company’s stock, valued at $7,145,120. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Alan M. Silberstein sold 700 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $156.18, for a total transaction of $109,326.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,287 shares of company stock worth $6,203,454. Company insiders own 0.88% of the company’s stock.

NYSE:GPN traded down $0.34 during trading hours on Tuesday, hitting $171.65. 734,617 shares of the stock traded hands, compared to its average volume of 1,805,799. The firm has a 50 day moving average price of $162.56 and a 200 day moving average price of $159.59. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.32. Global Payments Inc has a fifty-two week low of $94.81 and a fifty-two week high of $175.95. The firm has a market cap of $51.17 billion, a price-to-earnings ratio of 33.07, a PEG ratio of 1.72 and a beta of 0.98.

Global Payments (NYSE:GPN) last announced its earnings results on Thursday, October 31st. The business services provider reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.67 by $0.03. Global Payments had a net margin of 10.59% and a return on equity of 9.05%. The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the previous year, the business earned $1.44 EPS. The company’s revenue was up 27.4% on a year-over-year basis. Research analysts predict that Global Payments Inc will post 5.83 EPS for the current year.

A number of research firms have weighed in on GPN. Deutsche Bank upped their target price on Global Payments from $162.00 to $182.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. SunTrust Banks upped their target price on Global Payments from $190.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Robert W. Baird upped their target price on Global Payments from $188.00 to $203.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 18th. Wells Fargo & Co upped their target price on Global Payments from $185.00 to $190.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Goldman Sachs Group reaffirmed a “buy” rating and issued a $212.00 price target on shares of Global Payments in a report on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-one have issued a buy rating to the company’s stock. Global Payments presently has a consensus rating of “Buy” and an average price target of $177.97.

About Global Payments

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.

Featured Story: What is a management fee?

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).

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

Receive News & Ratings for Global Payments Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Global Payments and related companies with MarketBeat.com's FREE daily email newsletter.