Raymond James Trust N.A. grew its position in shares of Global Payments Inc. (NYSE:GPN) by 1.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,302 shares of the business services provider’s stock after buying an additional 62 shares during the quarter. Raymond James Trust N.A.’s holdings in Global Payments were worth $388,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently made changes to their positions in GPN. Russell Investments Group Ltd. lifted its holdings in shares of Global Payments by 24.4% during the 1st quarter. Russell Investments Group Ltd. now owns 97,983 shares of the business services provider’s stock valued at $7,907,000 after buying an additional 19,222 shares during the last quarter. Commerzbank Aktiengesellschaft FI acquired a new stake in shares of Global Payments during the 1st quarter valued at about $233,000. Comerica Bank lifted its holdings in shares of Global Payments by 11.6% during the 1st quarter. Comerica Bank now owns 38,953 shares of the business services provider’s stock valued at $3,193,000 after buying an additional 4,057 shares during the last quarter. Karp Capital Management Corp acquired a new stake in shares of Global Payments during the 1st quarter valued at about $2,096,000. Finally, Engineers Gate Manager LP acquired a new stake in shares of Global Payments during the 1st quarter valued at about $460,000. Institutional investors and hedge funds own 97.87% of the company’s stock.
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Global Payments Inc. (NYSE GPN) opened at 97.56 on Friday. Global Payments Inc. has a one year low of $64.63 and a one year high of $98.14. The stock’s 50 day moving average price is $95.24 and its 200-day moving average price is $88.12. The firm has a market capitalization of $14.88 billion, a price-to-earnings ratio of 75.69 and a beta of 1.11.
Global Payments (NYSE:GPN) last released its quarterly earnings data on Thursday, August 3rd. The business services provider reported $0.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.07. Global Payments had a return on equity of 18.32% and a net margin of 6.65%. The company had revenue of $847.90 million during the quarter, compared to analysts’ expectations of $837.76 million. During the same period last year, the firm posted $0.76 earnings per share. The business’s revenue was up 18.4% on a year-over-year basis. On average, equities research analysts expect that Global Payments Inc. will post $3.95 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be given a $0.01 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.04%. Global Payments’s payout ratio is 2.45%.
In other news, insider David E. Mangum sold 75,794 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $94.51, for a total value of $7,163,290.94. Following the completion of the sale, the insider now directly owns 112,930 shares of the company’s stock, valued at $10,673,014.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director William I. Jacobs sold 600 shares of the firm’s stock in a transaction that occurred on Thursday, July 13th. The shares were sold at an average price of $90.52, for a total value of $54,312.00. Following the completion of the sale, the director now directly owns 41,275 shares of the company’s stock, valued at $3,736,213. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 141,749 shares of company stock valued at $13,416,603. Insiders own 0.93% of the company’s stock.
Several equities research analysts have recently issued reports on the company. Bank of America Corporation assumed coverage on Global Payments in a report on Tuesday, September 12th. They set a “buy” rating and a $110.00 price target for the company. J P Morgan Chase & Co lifted their price target on Global Payments from $106.00 to $107.00 and gave the company an “overweight” rating in a report on Tuesday, September 12th. Barclays PLC lifted their price target on Global Payments from $98.00 to $105.00 and gave the company an “overweight” rating in a report on Friday, August 4th. Stifel Nicolaus reiterated a “buy” rating and set a $103.00 price target (up from $102.00) on shares of Global Payments in a report on Friday, August 4th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and set a $100.00 price target on shares of Global Payments in a report on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $97.75.
Global Payments Profile
Global Payments Inc is a provider of payment technology services. The Company provides payment and digital commerce solutions. The Company operates through three segments: North America, Europe and Asia-Pacific. The Company’s segments primarily provide payment solutions for credit cards, debit cards, electronic payments and check-related services.
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