First American Bank lowered its position in shares of Global Payments Inc. (NYSE:GPN) by 4.1% during the second quarter, Holdings Channel reports. The institutional investor owned 60,640 shares of the business services provider’s stock after selling 2,619 shares during the period. First American Bank’s holdings in Global Payments were worth $5,477,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also made changes to their positions in GPN. BlackRock Inc. increased its position in shares of Global Payments by 3,093.1% in the first quarter. BlackRock Inc. now owns 13,529,075 shares of the business services provider’s stock worth $1,091,527,000 after buying an additional 13,105,378 shares in the last quarter. FMR LLC increased its position in Global Payments by 12.4% in the first quarter. FMR LLC now owns 14,898,661 shares of the business services provider’s stock worth $1,202,023,000 after buying an additional 1,647,907 shares during the period. Norges Bank purchased a new position in Global Payments during the fourth quarter worth $92,838,000. Pictet Asset Management Ltd. increased its position in Global Payments by 240.0% in the first quarter. Pictet Asset Management Ltd. now owns 1,106,252 shares of the business services provider’s stock worth $89,252,000 after buying an additional 780,922 shares during the period. Finally, Nomura Asset Management Co. Ltd. increased its position in Global Payments by 2,062.0% in the first quarter. Nomura Asset Management Co. Ltd. now owns 758,483 shares of the business services provider’s stock worth $61,195,000 after buying an additional 723,400 shares during the period. Institutional investors own 98.92% of the company’s stock.
Global Payments Inc. (GPN) traded down 0.60% during trading on Monday, reaching $88.46. The company had a trading volume of 904,239 shares. The stock has a market capitalization of $13.49 billion, a P/E ratio of 69.60 and a beta of 1.09. The stock has a 50 day moving average of $90.58 and a 200-day moving average of $81.21. Global Payments Inc. has a 12-month low of $64.63 and a 12-month high of $93.52.
Global Payments (NYSE:GPN) last released its quarterly earnings results on Thursday, May 4th. The business services provider reported $0.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 for the quarter, compared to analyst estimates of $767.09 million. During the same period in the previous year, the company earned $0.64 earnings per share. The business’s revenue for the quarter was up 46.9% on a year-over-year basis. On average, analysts forecast that Global Payments Inc. will post $3.91 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, June 23rd. Shareholders of record on Friday, June 9th were issued a $0.0133 dividend. This is a positive change from Global Payments’s previous quarterly dividend of $0.01. This represents a $0.05 annualized dividend and a yield of 0.06%. The ex-dividend date of this dividend was Wednesday, June 7th. Global Payments’s payout ratio is currently 3.45%.
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A number of research analysts have weighed in on the company. Wedbush reiterated an “outperform” rating and set a $107.25 target price (up previously from $85.00) on shares of Global Payments in a report on Tuesday, June 6th. Stifel Nicolaus assumed coverage on Global Payments in a report on Thursday, June 1st. They set a “buy” rating and a $102.00 target price on the stock. Zacks Investment Research upgraded Global Payments from a “hold” rating to a “buy” rating and set a $101.00 target price on the stock in a report on Thursday. Mizuho assumed coverage on Global Payments in a report on Tuesday, June 27th. They set a “buy” rating and a $105.00 target price on the stock. Finally, Instinet reiterated a “reduce” rating and set a $79.00 target price (up previously from $70.00) on shares of Global Payments in a report on Wednesday, May 17th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and twenty have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $90.01.
In other Global Payments news, Director Robert H. B. Baldwin, Jr. sold 3,500 shares of Global Payments stock in a transaction on Thursday, April 20th. The shares were sold at an average price of $80.00, for a total value of $280,000.00. Following the transaction, the director now directly owns 265,752 shares of the company’s stock, valued at $21,260,160. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alan M. Silberstein sold 600 shares of Global Payments stock in a transaction on Monday, June 19th. The stock was sold at an average price of $89.91, for a total transaction of $53,946.00. Following the completion of the transaction, the director now directly owns 48,493 shares in the company, valued at $4,360,005.63. The disclosure for this sale can be found here. Insiders sold 70,002 shares of company stock worth $6,033,986 over the last ninety days. Corporate 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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