Brown Advisory Inc. lowered its holdings in Global Payments Inc (NYSE:GPN) by 1.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 80,046 shares of the business services provider’s stock after selling 1,085 shares during the period. Brown Advisory Inc. owned approximately 0.05% of Global Payments worth $10,198,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in GPN. Dimensional Fund Advisors LP boosted its stake in shares of Global Payments by 0.5% in the third quarter. Dimensional Fund Advisors LP now owns 730,587 shares of the business services provider’s stock valued at $93,074,000 after purchasing an additional 3,763 shares during the period. Virtu Financial LLC purchased a new position in shares of Global Payments in the third quarter valued at $395,000. Pictet Asset Management Ltd. boosted its stake in shares of Global Payments by 3.2% in the third quarter. Pictet Asset Management Ltd. now owns 1,821,854 shares of the business services provider’s stock valued at $232,104,000 after purchasing an additional 55,778 shares during the period. Carillon Tower Advisers Inc. boosted its stake in shares of Global Payments by 1,411.0% in the third quarter. Carillon Tower Advisers Inc. now owns 332,428 shares of the business services provider’s stock valued at $42,351,000 after purchasing an additional 310,428 shares during the period. Finally, Westpac Banking Corp boosted its stake in shares of Global Payments by 94.4% in the third quarter. Westpac Banking Corp now owns 46,156 shares of the business services provider’s stock valued at $5,880,000 after purchasing an additional 22,417 shares during the period. 97.43% of the stock is owned by institutional investors.
NYSE GPN opened at $111.81 on Monday. Global Payments Inc has a 12 month low of $95.32 and a 12 month high of $129.25. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market cap of $17.69 billion, a price-to-earnings ratio of 23.84, a P/E/G ratio of 1.28 and a beta of 1.17.
Global Payments (NYSE:GPN) last posted its quarterly earnings data on Tuesday, October 30th. The business services provider reported $1.44 EPS for the quarter, beating the Zacks’ consensus estimate of $1.39 by $0.05. Global Payments had a net margin of 17.48% and a return on equity of 18.38%. The firm had revenue of $857.70 million for the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the prior year, the firm posted $1.15 EPS. The firm’s revenue was down 17.4% compared to the same quarter last year. On average, research analysts expect that Global Payments Inc will post 4.88 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Friday, December 14th will be given a $0.01 dividend. The ex-dividend date is Thursday, December 13th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.04%. Global Payments’s payout ratio is currently 1.00%.
In other news, Director Alan M. Silberstein sold 700 shares of the firm’s stock in a transaction dated Wednesday, November 14th. The shares were sold at an average price of $109.66, for a total value of $76,762.00. Following the transaction, the director now directly owns 42,169 shares in the company, valued at approximately $4,624,252.54. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert H. B. Baldwin, Jr. sold 4,125 shares of the firm’s stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $128.76, for a total transaction of $531,135.00. Following the completion of the transaction, the director now owns 83,024 shares in the company, valued at $10,690,170.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 90,055 shares of company stock worth $11,425,119. Insiders own 0.98% of the company’s stock.
Several research analysts have recently weighed in on the stock. Robert W. Baird upped their target price on shares of Global Payments from $136.00 to $142.00 and gave the company an “outperform” rating in a research note on Wednesday, October 17th. ValuEngine downgraded shares of Global Payments from a “buy” rating to a “hold” rating in a research note on Tuesday, November 6th. Zacks Investment Research downgraded shares of Global Payments from a “buy” rating to a “hold” rating in a research note on Tuesday, October 9th. Deutsche Bank upped their target price on shares of Global Payments to $140.00 and gave the company a “buy” rating in a research note on Friday, September 14th. Finally, KeyCorp increased their price objective on shares of Global Payments from $130.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, October 31st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $123.30.
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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