Bank of America Corp DE raised its holdings in shares of Global Payments Inc (NYSE:GPN) by 8.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,192,076 shares of the business services provider’s stock after acquiring an additional 93,698 shares during the quarter. Bank of America Corp DE owned approximately 0.75% of Global Payments worth $132,905,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of the business. Fort L.P. purchased a new position in Global Payments in the second quarter valued at approximately $118,000. Signet Financial Management LLC purchased a new position in Global Payments in the second quarter valued at approximately $134,000. Point72 Asia Hong Kong Ltd raised its holdings in Global Payments by 8,133.3% in the first quarter. Point72 Asia Hong Kong Ltd now owns 1,235 shares of the business services provider’s stock valued at $138,000 after buying an additional 1,220 shares during the period. Piedmont Investment Advisors LLC purchased a new position in Global Payments in the second quarter valued at approximately $201,000. Finally, Quantitative Systematic Strategies LLC purchased a new position in Global Payments in the first quarter valued at approximately $202,000. Hedge funds and other institutional investors own 96.31% of the company’s stock.
Several research analysts recently commented on the stock. BMO Capital Markets assumed coverage on shares of Global Payments in a report on Wednesday, September 26th. They issued an “outperform” rating and a $139.00 price target on the stock. Deutsche Bank raised their price target on shares of Global Payments to $140.00 and gave the company a “buy” rating in a report on Friday, September 14th. Wedbush raised their price target on shares of Global Payments from $120.00 to $135.00 and gave the company an “outperform” rating in a report on Tuesday, August 28th. Nomura reiterated a “sell” rating and set a $97.00 price objective on shares of Global Payments in a research note on Monday, August 6th. Finally, KeyCorp reiterated a “buy” rating on shares of Global Payments in a research note on Friday, August 3rd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and twenty-two have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $119.00.
In other news, Director Robert H. B. Baldwin, Jr. sold 3,000 shares of the business’s stock in a transaction on Monday, July 16th. The shares were sold at an average price of $117.34, for a total transaction of $352,020.00. Following the completion of the transaction, the director now owns 90,149 shares of the company’s stock, valued at $10,578,083.66. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Alan M. Silberstein sold 600 shares of the business’s stock in a transaction on Monday, August 20th. The shares were sold at an average price of $119.01, for a total transaction of $71,406.00. Following the transaction, the director now directly owns 44,269 shares of the company’s stock, valued at approximately $5,268,453.69. The disclosure for this sale can be found here. In the last three months, insiders have sold 93,430 shares of company stock valued at $11,833,594. Corporate insiders own 0.98% of the company’s stock.
Global Payments stock traded down $3.94 during mid-day trading on Monday, reaching $117.86. The company’s stock had a trading volume of 1,483,700 shares, compared to its average volume of 1,027,252. The company has a market cap of $20.15 billion, a PE ratio of 30.13, a P/E/G ratio of 1.51 and a beta of 1.19. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.09 and a quick ratio of 1.09. Global Payments Inc has a twelve month low of $95.32 and a twelve month high of $129.25.
Global Payments (NYSE:GPN) last released its quarterly earnings data on Thursday, August 2nd. The business services provider reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.07. Global Payments had a net margin of 14.86% and a return on equity of 17.99%. The firm had revenue of $982.50 million during the quarter, compared to the consensus estimate of $968.75 million. During the same quarter in the previous year, the company posted $0.94 earnings per share. The firm’s revenue was up 18.1% on a year-over-year basis. Equities research analysts anticipate that Global Payments Inc will post 4.87 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Friday, September 14th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend was Thursday, September 13th. Global Payments’s dividend payout ratio (DPR) is 1.00%.
About Global Payments
Global Payments Inc provides payment technology and software solutions for credit cards, debit cards, electronic payments, and check-related services. 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, online reporting, industry compliance, and payment card industry security services.
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