GHP Investment Advisors Inc. trimmed its holdings in Global Payments Inc (NYSE:GPN) by 2.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,604 shares of the business services provider’s stock after selling 732 shares during the period. GHP Investment Advisors Inc.’s holdings in Global Payments were worth $2,767,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of GPN. JPMorgan Chase & Co. grew its holdings in shares of Global Payments by 3.4% in the third quarter. JPMorgan Chase & Co. now owns 3,396,554 shares of the business services provider’s stock valued at $319,071,000 after purchasing an additional 112,256 shares during the period. Capital International Investors grew its holdings in shares of Global Payments by 39.1% in the third quarter. Capital International Investors now owns 2,678,334 shares of the business services provider’s stock valued at $254,522,000 after purchasing an additional 752,962 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Global Payments by 5.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,552,480 shares of the business services provider’s stock valued at $255,861,000 after purchasing an additional 137,628 shares during the period. Janus Henderson Group PLC grew its holdings in shares of Global Payments by 0.4% in the third quarter. Janus Henderson Group PLC now owns 2,302,837 shares of the business services provider’s stock valued at $218,838,000 after purchasing an additional 10,039 shares during the period. Finally, Wells Fargo & Company MN grew its holdings in shares of Global Payments by 1.2% in the fourth quarter. Wells Fargo & Company MN now owns 1,698,883 shares of the business services provider’s stock valued at $170,296,000 after purchasing an additional 19,457 shares during the period. Institutional investors and hedge funds own 96.68% of the company’s stock.
A number of equities research analysts recently issued reports on the stock. Deutsche Bank upped their price objective on shares of Global Payments and gave the company a “buy” rating in a report on Friday, February 16th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $122.00 price objective on shares of Global Payments in a report on Friday, December 22nd. KeyCorp reissued an “overweight” rating and issued a $125.00 price objective (up previously from $120.00) on shares of Global Payments in a report on Friday, March 2nd. Stephens reaffirmed a “buy” rating and set a $125.00 target price on shares of Global Payments in a research note on Tuesday, February 27th. Finally, Piper Jaffray Companies raised shares of Global Payments from a “neutral” rating to an “overweight” rating in a research note on Friday, March 2nd. Two analysts have rated the stock with a sell rating, four have given a hold rating and twenty-three have assigned a buy rating to the company’s stock. Global Payments currently has an average rating of “Buy” and an average price target of $109.40.
Global Payments Inc (GPN) opened at $117.25 on Wednesday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.15. Global Payments Inc has a 12 month low of $76.47 and a 12 month high of $118.30. The company has a market cap of $18,759.23, a P/E ratio of 39.35, a PEG ratio of 1.54 and a beta of 1.09.
Global Payments (NYSE:GPN) last posted its quarterly earnings data on Thursday, February 15th. The business services provider reported $1.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.01. Global Payments had a net margin of 11.78% and a return on equity of 17.94%. The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $943.39 million. During the same quarter last year, the firm posted $0.89 earnings per share. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. sell-side analysts expect that Global Payments Inc will post 4.85 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Friday, March 16th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend is Thursday, March 15th. Global Payments’s payout ratio is 1.34%.
Global Payments announced that its Board of Directors has authorized a stock buyback plan on Thursday, February 15th that permits the company to repurchase $600.00 million in outstanding shares. This repurchase authorization permits the business services provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
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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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