OppenheimerFunds Inc. lowered its position in Global Payments Inc (NYSE:GPN) by 6.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 285,023 shares of the business services provider’s stock after selling 20,599 shares during the quarter. OppenheimerFunds Inc. owned approximately 0.18% of Global Payments worth $38,912,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently modified their holdings of GPN. Cornerstone Advisors Inc. boosted its stake in shares of Global Payments by 114.9% during 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. Berman Capital Advisors LLC boosted its stake in shares of Global Payments by 317.5% during the first quarter. Berman Capital Advisors LLC now owns 238 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 181 shares during the period. Ranger Investment Management L.P. purchased a new stake in shares of Global Payments during the fourth quarter valued at approximately $26,000. Lindbrook Capital LLC lifted its stake in Global Payments by 171.2% in the first quarter. Lindbrook Capital LLC now owns 320 shares of the business services provider’s stock worth $43,000 after acquiring an additional 202 shares during the period. Finally, Legacy Advisors LLC purchased a new stake in Global Payments in the first quarter worth $44,000. 97.47% of the stock is owned by institutional investors and hedge funds.
In other news, Director Robert H. B. Baldwin, Jr. sold 4,250 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $146.36, for a total transaction of $622,030.00. Following the completion of the transaction, the director now directly owns 48,382 shares in the company, valued at $7,081,189.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Alan M. Silberstein sold 700 shares of Global Payments stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $138.96, for a total value of $97,272.00. Following the completion of the sale, the director now owns 40,355 shares of the company’s stock, valued at $5,607,730.80. The disclosure for this sale can be found here. 0.88% of the stock is owned by company insiders.
A number of analysts recently commented on GPN shares. Robert W. Baird raised their price target on Global Payments from $160.00 to $174.00 and gave the stock an “outperform” rating in a research note on Thursday, May 30th. SunTrust Banks raised their price target on Global Payments to $155.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. TheStreet raised Global Payments from a “c” rating to a “b-” rating in a research note on Wednesday, February 13th. Zacks Investment Research lowered Global Payments from a “buy” rating to a “hold” rating in a research note on Tuesday, April 16th. Finally, Jefferies Financial Group started coverage on Global Payments in a research note on Thursday, February 28th. They issued a “buy” rating and a $150.00 price target for the company. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $146.31.
GPN traded down $0.17 during trading on Wednesday, reaching $158.77. The stock had a trading volume of 20,668 shares, compared to its average volume of 1,326,752. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.25. The company has a market cap of $25.29 billion, a price-to-earnings ratio of 30.62, a price-to-earnings-growth ratio of 1.63 and a beta of 1.07. Global Payments Inc has a one year low of $94.81 and a one year high of $162.81.
Global Payments (NYSE:GPN) last posted its quarterly earnings data on Thursday, May 2nd. The business services provider reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.12. Global Payments had a return on equity of 19.83% and a net margin of 13.69%. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the prior year, the company earned $1.13 earnings per share. The firm’s quarterly revenue was up 12.8% compared to the same quarter last year. On average, analysts predict that Global Payments Inc will post 5.81 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. Global Payments’s payout ratio is presently 0.77%.
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Global Payments 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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