Victory Capital Management Inc. Has $42 Million Stake in Global Payments Inc (GPN)

Victory Capital Management Inc. reduced its holdings in shares of Global Payments Inc (NYSE:GPN) by 0.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 307,607 shares of the business services provider’s stock after selling 1,901 shares during the quarter. Victory Capital Management Inc. owned 0.19% of Global Payments worth $41,995,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ranger Investment Management L.P. bought a new stake in shares of Global Payments in the fourth quarter valued at approximately $26,000. Cornerstone Advisors Inc. raised its position in shares of Global Payments by 114.9% in the first quarter. Cornerstone Advisors Inc. now owns 202 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 108 shares during the period. JOYN Advisors Inc. raised its position in shares of Global Payments by 58.7% in the fourth quarter. JOYN Advisors Inc. now owns 346 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 128 shares during the period. Bessemer Group Inc. raised its position in shares of Global Payments by 35.7% in the fourth quarter. Bessemer Group Inc. now owns 407 shares of the business services provider’s stock valued at $43,000 after purchasing an additional 107 shares during the period. Finally, Lindbrook Capital LLC raised its position in shares of Global Payments by 171.2% in the first quarter. Lindbrook Capital LLC now owns 320 shares of the business services provider’s stock valued at $43,000 after purchasing an additional 202 shares during the period. Hedge funds and other institutional investors own 99.81% of the company’s stock.

Several analysts have recently issued reports on the stock. Nomura boosted their price target on shares of Global Payments from $94.00 to $105.00 and gave the company a “reduce” rating in a research report on Friday, May 10th. Zacks Investment Research raised shares of Global Payments from a “sell” rating to a “hold” rating and set a $163.00 price target on the stock in a research report on Tuesday, May 7th. Morgan Stanley boosted their price target on shares of Global Payments from $128.00 to $137.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 7th. Susquehanna Bancshares raised shares of Global Payments from a “neutral” rating to a “positive” rating and boosted their price target for the company from $130.00 to $170.00 in a research report on Tuesday, May 7th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Global Payments from $140.00 to $151.00 and gave the company an “overweight” rating in a research report on Monday, May 6th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $143.10.

NYSE:GPN traded up $3.66 during mid-day trading on Thursday, hitting $151.88. 11,328 shares of the stock traded hands, compared to its average volume of 1,166,276. The stock has a market cap of $23.07 billion, a P/E ratio of 29.33, a P/E/G ratio of 1.46 and a beta of 1.20. Global Payments Inc has a 12-month low of $94.81 and a 12-month high of $149.06. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.25.

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 the Zacks’ consensus estimate of $1.22 by $0.12. Global Payments had a net margin of 13.69% and a return on equity of 19.83%. The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the previous year, the company earned $1.13 EPS. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. On average, equities analysts forecast that Global Payments Inc will post 5.79 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. Global Payments’s dividend payout ratio is presently 0.77%.

In other Global Payments 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 completion of the transaction, the director now owns 40,355 shares of the company’s stock, valued at approximately $5,607,730.80. The transaction was disclosed in a filing with the SEC, which is available through this link. 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 transaction, the director now directly owns 51,049 shares of the company’s stock, valued at approximately $6,760,419.07. The disclosure for this sale can be found here. In the last three months, insiders sold 206,829 shares of company stock valued at $26,881,369. Corporate insiders own 0.88% of the company’s stock.

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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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Institutional Ownership by Quarter for Global Payments (NYSE:GPN)

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