Prana Capital Management LP bought a new position in Global Payments Inc (NYSE:GPN) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 80,245 shares of the business services provider’s stock, valued at approximately $8,044,000. Global Payments comprises about 2.7% of Prana Capital Management LP’s investment portfolio, making the stock its 14th biggest holding. Prana Capital Management LP owned about 0.05% of Global Payments at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of the company. New Mexico Educational Retirement Board increased its holdings in shares of Global Payments by 3.5% in the fourth quarter. New Mexico Educational Retirement Board now owns 14,700 shares of the business services provider’s stock worth $1,474,000 after purchasing an additional 500 shares during the last quarter. Mutual of America Capital Management LLC increased its holdings in shares of Global Payments by 2.0% in the fourth quarter. Mutual of America Capital Management LLC now owns 25,951 shares of the business services provider’s stock worth $2,601,000 after purchasing an additional 508 shares during the last quarter. BB&T Securities LLC increased its holdings in shares of Global Payments by 12.5% in the third quarter. BB&T Securities LLC now owns 4,703 shares of the business services provider’s stock worth $446,000 after purchasing an additional 522 shares during the last quarter. WINTON GROUP Ltd increased its holdings in shares of Global Payments by 19.0% in the fourth quarter. WINTON GROUP Ltd now owns 3,607 shares of the business services provider’s stock worth $362,000 after purchasing an additional 576 shares during the last quarter. Finally, Standard Life Aberdeen plc increased its holdings in shares of Global Payments by 2.2% in the fourth quarter. Standard Life Aberdeen plc now owns 27,501 shares of the business services provider’s stock worth $2,757,000 after purchasing an additional 580 shares during the last quarter. 96.68% of the stock is currently owned by hedge funds and other institutional investors.
Global Payments Inc (GPN) opened at $120.10 on Monday. Global Payments Inc has a 12-month low of $76.47 and a 12-month high of $120.10. The stock has a market capitalization of $18,650.00, a P/E ratio of 58.90, a price-to-earnings-growth ratio of 1.53 and a beta of 1.09. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.13 and a current ratio of 1.13.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Friday, March 16th will be given a dividend of $0.01 per share. The ex-dividend date is Thursday, March 15th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. Global Payments’s dividend payout ratio (DPR) is presently 2.01%.
Global Payments announced that its Board of Directors has initiated a share repurchase plan on Thursday, February 15th that permits the company to repurchase $600.00 million in shares. This repurchase authorization permits the business services provider to buy shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its shares are undervalued.
Several research analysts recently commented on GPN shares. Stephens upgraded Global Payments from an “equal weight” rating to an “overweight” rating and set a $122.00 price target for the company in a research report on Tuesday, January 9th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $122.00 price target on shares of Global Payments in a research report on Friday, December 22nd. Robert W. Baird reiterated a “buy” rating and issued a $124.00 price target on shares of Global Payments in a research report on Tuesday, January 23rd. BMO Capital Markets reiterated a “buy” rating and issued a $135.00 price target on shares of Global Payments in a research report on Friday, February 16th. Finally, SunTrust Banks lifted their price target on Global Payments to $145.00 and gave the stock a “buy” rating in a research report on Friday, March 2nd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and twenty-three have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $109.40.
In related news, Director Alan M. Silberstein sold 600 shares of the business’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $101.55, for a total value of $60,930.00. Following the completion of the sale, the director now owns 44,893 shares in the company, valued at $4,558,884.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 3,600 shares of company stock valued at $378,918 in the last quarter. 0.93% of the stock is owned by company insiders.
ILLEGAL ACTIVITY WARNING: This piece of content was first posted by American Banking News and is the property of of American Banking News. If you are viewing this piece of content on another website, it was illegally copied and reposted in violation of international copyright laws. The original version of this piece of content can be accessed at https://www.americanbankingnews.com/2018/03/12/prana-capital-management-lp-buys-new-holdings-in-global-payments-inc-gpn.html.
Global Payments 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.
Want to see what other hedge funds are holding GPN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Global Payments Inc (NYSE:GPN).
Receive News & Ratings for Global Payments Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Global Payments and related companies with MarketBeat.com's FREE daily email newsletter.