Regentatlantic Capital LLC Increases Holdings in Global Payments Inc. (NYSE:GPN)

Regentatlantic Capital LLC grew its holdings in shares of Global Payments Inc. (NYSE:GPN) by 1.9% in the second quarter, Holdings Channel reports. The institutional investor owned 14,156 shares of the business services provider’s stock after purchasing an additional 270 shares during the period. Regentatlantic Capital LLC’s holdings in Global Payments were worth $2,655,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Itau Unibanco Holding S.A. lifted its holdings in Global Payments by 260.9% during the 1st quarter. Itau Unibanco Holding S.A. now owns 27,420 shares of the business services provider’s stock worth $5,527,000 after buying an additional 19,823 shares during the last quarter. Sculptor Capital LP purchased a new stake in Global Payments during the 1st quarter worth about $104,623,000. Addenda Capital Inc. lifted its holdings in Global Payments by 18.1% during the 2nd quarter. Addenda Capital Inc. now owns 12,277 shares of the business services provider’s stock worth $2,302,000 after buying an additional 1,878 shares during the last quarter. Tiger Eye Capital LLC purchased a new stake in Global Payments during the 1st quarter worth about $9,022,000. Finally, Cloverfields Capital Group LP lifted its holdings in Global Payments by 38.4% during the 1st quarter. Cloverfields Capital Group LP now owns 8,503 shares of the business services provider’s stock worth $1,714,000 after buying an additional 2,360 shares during the last quarter. 86.76% of the stock is owned by institutional investors.

In related news, Director William I. Jacobs sold 500 shares of the company’s stock in a transaction that occurred on Thursday, July 15th. The stock was sold at an average price of $192.30, for a total value of $96,150.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Connie D. Mcdaniel purchased 1,150 shares of Global Payments stock in a transaction on Tuesday, August 10th. The shares were acquired at an average cost of $173.48 per share, for a total transaction of $199,502.00. Following the purchase, the director now owns 13,970 shares in the company, valued at $2,423,515.60. The disclosure for this purchase can be found here. Insiders have bought a total of 4,686 shares of company stock worth $800,475 in the last three months. Corporate insiders own 1.00% of the company’s stock.

A number of analysts have recently commented on GPN shares. Barclays cut their target price on Global Payments from $235.00 to $220.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 4th. BMO Capital Markets lifted their target price on Global Payments from $206.00 to $217.00 and gave the stock an “outperform” rating in a research report on Thursday, September 9th. Mizuho reiterated a “hold” rating and set a $190.00 target price on shares of Global Payments in a research report on Monday, August 2nd. Jefferies Financial Group started coverage on Global Payments in a research report on Tuesday, September 7th. They set a “buy” rating and a $235.00 target price on the stock. Finally, Wedbush reiterated an “outperform” rating on shares of Global Payments in a research report on Monday, August 2nd. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $219.35.

Shares of NYSE:GPN opened at $161.64 on Friday. The business’s 50 day simple moving average is $170.41 and its 200-day simple moving average is $190.50. The firm has a market capitalization of $47.48 billion, a price-to-earnings ratio of 55.74, a price-to-earnings-growth ratio of 1.14 and a beta of 1.16. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.12 and a quick ratio of 1.12. Global Payments Inc. has a 12 month low of $153.33 and a 12 month high of $220.81.

Global Payments (NYSE:GPN) last announced its quarterly earnings results on Sunday, August 1st. The business services provider reported $2.04 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.90 by $0.14. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $1.86 billion. Global Payments had a return on equity of 7.70% and a net margin of 10.83%. The company’s quarterly revenue was up 40.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.31 EPS. On average, equities analysts anticipate that Global Payments Inc. will post 7.82 earnings per share for the current year.

Global Payments declared that its Board of Directors has authorized a share repurchase program on Monday, August 2nd that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the business services provider to buy up to 3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

The company also recently declared a quarterly dividend, which was paid on Friday, September 24th. Stockholders of record on Friday, September 10th were paid a dividend of $0.25 per share. This is a positive change from Global Payments’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Thursday, September 9th. This represents a $1.00 annualized dividend and a dividend yield of 0.62%. Global Payments’s payout ratio is 16.64%.

About Global Payments

Global Payments, Inc engages in the provision of payment technology and software solutions. It operates through the following segments: Merchant Solutions, Issuer Solutions and Business & Consumer Solutions. The Merchant Solutions segment provides payments technology and software solutions to customers globally.

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

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