Bbva Compass Bancshares Inc. lowered its stake in shares of Global Payments Inc (NYSE:GPN) by 6.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,847 shares of the business services provider’s stock after selling 1,066 shares during the quarter. Bbva Compass Bancshares Inc.’s holdings in Global Payments were worth $2,300,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Carillon Tower Advisers Inc. boosted its stake in shares of Global Payments by 22.4% during the first quarter. Carillon Tower Advisers Inc. now owns 437,814 shares of the business services provider’s stock worth $59,770,000 after buying an additional 80,180 shares during the period. Investment House LLC acquired a new stake in shares of Global Payments in the first quarter valued at approximately $2,162,000. Stephens Investment Management Group LLC boosted its position in Global Payments by 6.4% during the first quarter. Stephens Investment Management Group LLC now owns 53,565 shares of the business services provider’s stock worth $7,313,000 after acquiring an additional 3,214 shares during the last quarter. Palladium Partners LLC acquired a new stake in Global Payments during the first quarter worth approximately $232,000. Finally, Groesbeck Investment Management Corp NJ boosted its holdings in shares of Global Payments by 16.6% in the 1st quarter. Groesbeck Investment Management Corp NJ now owns 2,810 shares of the business services provider’s stock valued at $384,000 after purchasing an additional 400 shares during the last quarter. 99.63% of the stock is currently owned by institutional investors and hedge funds.
GPN stock opened at $146.89 on Friday. Global Payments Inc has a 52 week low of $94.81 and a 52 week high of $147.77. The stock has a market cap of $22.96 billion, a price-to-earnings ratio of 28.30, a P/E/G ratio of 1.48 and a beta of 1.20. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.03 and a current ratio of 1.03.
Global Payments (NYSE:GPN) last released its quarterly earnings results on Thursday, May 2nd. The business services provider reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.12. Global Payments had a net margin of 13.69% and a return on equity of 19.83%. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the previous year, the firm earned $1.13 EPS. Global Payments’s revenue was up 12.8% on a year-over-year basis. On average, research analysts expect 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 issued a $0.01 dividend. The ex-dividend date is Thursday, June 13th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. Global Payments’s payout ratio is currently 0.77%.
In related news, Director Alan M. Silberstein sold 700 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $138.96, for a total value of $97,272.00. Following the sale, the director now directly owns 40,355 shares in the company, valued at approximately $5,607,730.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Alan M. Silberstein sold 4,276 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $132.43, for a total transaction of $566,270.68. Following the completion of the sale, the director now owns 51,049 shares in the company, valued at $6,760,419.07. The disclosure for this sale can be found here. Insiders sold a total of 210,329 shares of company stock worth $27,306,584 over the last quarter. Insiders own 0.88% of the company’s stock.
GPN has been the topic of a number of research reports. Zacks Investment Research raised shares of Global Payments from a “sell” rating to a “hold” rating in a research note on Monday, February 18th. JPMorgan Chase & Co. raised their target price on shares of Global Payments from $140.00 to $151.00 and gave the company an “overweight” rating in a research note on Monday, May 6th. Morgan Stanley raised their target price on shares of Global Payments from $128.00 to $137.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 7th. Cantor Fitzgerald raised their target price on shares of Global Payments from $143.00 to $163.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. Finally, Nomura raised their target price on shares of Global Payments from $94.00 to $105.00 and gave the company a “reduce” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $143.10.
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Global Payments Company Profile
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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