Raymond James Financial Services Advisors Inc. Has $373,000 Stake in Global Payments Inc. (GPN)

Raymond James Financial Services Advisors Inc. reduced its position in Global Payments Inc. (NYSE:GPN) by 69.3% during the first quarter, Holdings Channel reports. The firm owned 4,628 shares of the business services provider’s stock after selling 10,435 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Global Payments were worth $373,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in GPN. Russell Investments Group Ltd. purchased a new stake in shares of Global Payments during the fourth quarter worth about $5,498,000. State Board of Administration of Florida Retirement System boosted its stake in shares of Global Payments by 0.5% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 231,583 shares of the business services provider’s stock worth $16,074,000 after buying an additional 1,182 shares during the period. State Street Corp boosted its stake in shares of Global Payments by 3.2% in the fourth quarter. State Street Corp now owns 5,925,821 shares of the business services provider’s stock worth $411,329,000 after buying an additional 181,952 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Global Payments by 0.4% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 8,811 shares of the business services provider’s stock worth $612,000 after buying an additional 37 shares during the period. Finally, FIL Ltd boosted its stake in shares of Global Payments by 6.3% in the fourth quarter. FIL Ltd now owns 63,453 shares of the business services provider’s stock worth $4,404,000 after buying an additional 3,775 shares during the period. 98.95% of the stock is owned by hedge funds and other institutional investors.

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

Global Payments Inc. (NYSE GPN) opened at 89.55 on Friday. Global Payments Inc. has a 52-week low of $64.63 and a 52-week high of $93.52. The company has a market cap of $13.65 billion, a price-to-earnings ratio of 70.46 and a beta of 1.06. The firm’s 50-day moving average is $89.07 and its 200 day moving average is $79.87.

Global Payments (NYSE:GPN) last released its earnings results on Thursday, May 4th. The business services provider reported $0.85 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.10. Global Payments had a net margin of 6.22% and a return on equity of 17.38%. The business had revenue of $919.76 million during the quarter, compared to analyst estimates of $767.09 million. During the same quarter in the prior year, the firm earned $0.64 earnings per share. The company’s revenue for the quarter was up 46.9% compared to the same quarter last year. On average, equities research analysts predict that Global Payments Inc. will post $3.92 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 23rd. Stockholders of record on Friday, June 9th will be issued a dividend of $0.0133 per share. This is a positive change from Global Payments’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend is Wednesday, June 7th. This represents a $0.05 dividend on an annualized basis and a dividend yield of 0.06%. Global Payments’s dividend payout ratio is presently 3.45%.

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GPN has been the subject of a number of analyst reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $93.00 price objective on shares of Global Payments in a research note on Wednesday, March 15th. Piper Jaffray Companies increased their price objective on shares of Global Payments from $84.00 to $85.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 21st. Barclays PLC raised shares of Global Payments from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $88.00 to $92.00 in a research note on Thursday, March 30th. Atlantic Securities initiated coverage on shares of Global Payments in a research note on Wednesday, April 12th. They issued an “overweight” rating and a $91.00 price objective for the company. Finally, Zacks Investment Research cut shares of Global Payments from a “hold” rating to a “sell” rating in a research note on Wednesday, May 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eighteen have issued a buy rating to the stock. Global Payments presently has a consensus rating of “Buy” and an average price target of $88.63.

In other news, Director Ruth Ann Marshall sold 5,402 shares of the company’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $92.26, for a total transaction of $498,388.52. Following the completion of the sale, the director now owns 41,476 shares of the company’s stock, valued at $3,826,575.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director William I. Jacobs sold 600 shares of the company’s stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $90.00, for a total transaction of $54,000.00. Following the sale, the director now directly owns 41,875 shares of the company’s stock, valued at approximately $3,768,750. The disclosure for this sale can be found here. Insiders have sold 70,002 shares of company stock valued at $6,028,058 in the last ninety days. Insiders own 0.93% of the company’s stock.

Global Payments Company 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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