Kornitzer Capital Management Inc. KS acquired a new stake in Global Payments Inc (NYSE:GPN) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 115,250 shares of the business services provider’s stock, valued at approximately $18,325,000. Kornitzer Capital Management Inc. KS owned 0.07% of Global Payments at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. Lenox Wealth Advisors LLC acquired a new stake in shares of Global Payments in the 2nd quarter valued at approximately $25,000. Next Capital Management LLC acquired a new stake in shares of Global Payments in the 2nd quarter valued at approximately $25,000. Citizens Financial Group Inc RI acquired a new stake in shares of Global Payments in the 2nd quarter valued at approximately $27,000. First Financial Corp IN acquired a new stake in shares of Global Payments in the 3rd quarter valued at approximately $27,000. Finally, Tarbox Family Office Inc. boosted its stake in shares of Global Payments by 130.7% in the 3rd quarter. Tarbox Family Office Inc. now owns 173 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 98 shares in the last quarter. 97.09% of the stock is currently owned by institutional investors.
Several equities research analysts recently commented on the stock. William Blair reiterated an “outperform” rating on shares of Global Payments in a research report on Thursday, October 17th. SunTrust Banks lifted their target price on shares of Global Payments from $190.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. UBS Group assumed coverage on shares of Global Payments in a research report on Monday, October 14th. They set a “buy” rating and a $193.00 target price on the stock. BMO Capital Markets lifted their target price on shares of Global Payments from $162.00 to $186.00 and gave the stock a “market perform” rating in a research report on Monday. They noted that the move was a valuation call. Finally, Goldman Sachs Group reiterated a “buy” rating and set a $212.00 target price on shares of Global Payments in a research report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $177.97.
Global Payments stock traded up $0.47 during mid-day trading on Friday, hitting $169.46. 550,182 shares of the stock were exchanged, compared to its average volume of 1,849,436. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.32. Global Payments Inc has a 12 month low of $94.81 and a 12 month high of $175.95. The firm’s fifty day simple moving average is $162.08 and its two-hundred day simple moving average is $159.14. The stock has a market capitalization of $26.09 billion, a price-to-earnings ratio of 32.65, a PEG ratio of 1.69 and a beta of 0.98.
Global Payments (NYSE:GPN) last released its quarterly earnings results on Thursday, October 31st. The business services provider reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.03. The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.16 billion. Global Payments had a net margin of 10.59% and a return on equity of 9.05%. The company’s revenue was up 27.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.44 EPS. As a group, analysts forecast that Global Payments Inc will post 5.83 earnings per share for the current fiscal year.
In related news, Director Joia M. Johnson acquired 575 shares of the stock in a transaction dated Tuesday, November 5th. The stock was bought at an average price of $169.35 per share, for a total transaction of $97,376.25. Following the purchase, the director now directly owns 1,787 shares of the company’s stock, valued at approximately $302,628.45. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director William I. Jacobs sold 10,980 shares of Global Payments stock in a transaction on Monday, September 9th. The shares were sold at an average price of $175.27, for a total transaction of $1,924,464.60. Following the completion of the sale, the director now owns 40,568 shares of the company’s stock, valued at approximately $7,110,353.36. The disclosure for this sale can be found here. Insiders sold a total of 29,410 shares of company stock valued at $4,871,060 in the last quarter. 0.88% of the stock is currently owned by company insiders.
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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