Los Angeles Capital Management & Equity Research Inc. boosted its position in shares of Global Payments Inc (NYSE:GPN) by 122.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 71,359 shares of the business services provider’s stock after buying an additional 39,330 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in Global Payments were worth $9,742,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Lunia Capital LP purchased a new stake in shares of Global Payments in the fourth quarter valued at approximately $18,742,000. Massachusetts Financial Services Co. MA boosted its stake in shares of Global Payments by 9.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,447,043 shares of the business services provider’s stock valued at $561,752,000 after buying an additional 449,751 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Global Payments by 14.7% in the third quarter. JPMorgan Chase & Co. now owns 4,520,530 shares of the business services provider’s stock valued at $575,914,000 after buying an additional 581,025 shares in the last quarter. Marshall Wace North America L.P. boosted its stake in shares of Global Payments by 43.5% in the third quarter. Marshall Wace North America L.P. now owns 2,162,102 shares of the business services provider’s stock valued at $275,452,000 after buying an additional 655,495 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Global Payments by 7.0% in the fourth quarter. Geode Capital Management LLC now owns 1,969,663 shares of the business services provider’s stock valued at $202,756,000 after buying an additional 128,466 shares in the last quarter. 99.81% of the stock is currently owned by institutional investors.
In other Global Payments news, Director Robert H. B. Baldwin, Jr. sold 4,250 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $146.36, for a total transaction of $622,030.00. Following the completion of the sale, the director now owns 48,382 shares of the company’s stock, valued at $7,081,189.52. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jeffrey Steven Sloan sold 167,545 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $129.59, for a total value of $21,712,156.55. Following the sale, the chief executive officer now directly owns 579,207 shares of the company’s stock, valued at approximately $75,059,435.13. The disclosure for this sale can be found here. Insiders sold 211,079 shares of company stock valued at $27,503,399 over the last quarter. Insiders own 0.88% of the company’s stock.
Global Payments stock traded up $0.13 during trading on Wednesday, hitting $150.62. The company’s stock had a trading volume of 417,278 shares, compared to its average volume of 1,142,554. The firm has a market capitalization of $23.55 billion, a P/E ratio of 29.02, a PEG ratio of 1.52 and a beta of 1.20. Global Payments Inc has a 1-year low of $94.81 and a 1-year high of $152.24. The company has a current ratio of 1.03, a quick 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 firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.04 billion. Global Payments had a return on equity of 19.83% and a net margin of 13.69%. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.13 earnings per share. As a group, equities analysts predict that Global Payments Inc will post 5.79 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors 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 yield of 0.03%. Global Payments’s payout ratio is currently 0.77%.
A number of analysts recently weighed in on GPN shares. Zacks Investment Research downgraded Global Payments from a “buy” rating to a “hold” rating in a research note on Tuesday, April 16th. Mizuho lifted their price target on Global Payments to $136.00 and gave the company a “buy” rating in a research note on Thursday, February 14th. Nomura lifted their price target on Global Payments from $91.00 to $94.00 and gave the company a “reduce” rating in a research note on Monday, February 11th. Jefferies Financial Group assumed coverage on Global Payments in a report on Thursday, February 28th. They set a “buy” rating and a $150.00 price objective for the company. Finally, JPMorgan Chase & Co. lifted their price objective on Global Payments from $140.00 to $151.00 and gave the stock an “overweight” rating in a report on Monday, May 6th. One analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $143.10.
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.
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