Comerica Bank decreased its stake in Global Payments Inc. (NYSE:GPN) by 5.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,329 shares of the business services provider’s stock after selling 1,934 shares during the period. Comerica Bank’s holdings in Global Payments were worth $3,701,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently modified their holdings of GPN. Janus Henderson Group PLC increased its stake in shares of Global Payments by 11,779.8% in the second quarter. Janus Henderson Group PLC now owns 2,292,798 shares of the business services provider’s stock valued at $207,086,000 after buying an additional 2,273,498 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Global Payments by 162.0% in the second quarter. JPMorgan Chase & Co. now owns 3,284,298 shares of the business services provider’s stock valued at $296,636,000 after buying an additional 2,030,880 shares during the period. Capital International Investors acquired a new stake in shares of Global Payments in the second quarter valued at about $173,900,000. Capital Guardian Trust Co. acquired a new stake in shares of Global Payments in the second quarter valued at about $49,793,000. Finally, Vanguard Group Inc. grew its stake in Global Payments by 3.0% during the second quarter. Vanguard Group Inc. now owns 15,211,802 shares of the business services provider’s stock worth $1,373,930,000 after purchasing an additional 448,864 shares during the period. 91.13% of the stock is owned by institutional investors.
In other news, Director Robert H. B. Baldwin, Jr. sold 8,200 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $97.61, for a total value of $800,402.00. Following the transaction, the director now owns 172,497 shares in the company, valued at $16,837,432.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William I. Jacobs sold 600 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $98.00, for a total value of $58,800.00. Following the completion of the transaction, the director now owns 40,075 shares in the company, valued at approximately $3,927,350. The disclosure for this sale can be found here. In the last quarter, insiders sold 37,800 shares of company stock worth $3,750,676. Corporate insiders own 0.93% of the company’s stock.
Global Payments Inc. (NYSE:GPN) opened at $103.47 on Friday. The stock has a market capitalization of $16,466.42, a P/E ratio of 27.81, a price-to-earnings-growth ratio of 1.90 and a beta of 1.14. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.27. Global Payments Inc. has a fifty-two week low of $65.91 and a fifty-two week high of $104.83.
Global Payments (NYSE:GPN) last announced its quarterly earnings results on Wednesday, November 8th. The business services provider reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.12. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $917.31 million. Global Payments had a return on equity of 18.50% and a net margin of 7.14%. The company’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.89 earnings per share. equities analysts expect that Global Payments Inc. will post 3.81 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be issued a $0.01 dividend. The ex-dividend date is Thursday, December 14th. This represents a $0.04 annualized dividend and a yield of 0.04%. Global Payments’s payout ratio is currently 2.23%.
Several equities research analysts recently commented on GPN shares. Credit Suisse Group reaffirmed an “outperform” rating on shares of Global Payments in a research note on Tuesday, September 5th. Deutsche Bank AG reaffirmed a “buy” rating and set a $115.00 target price (up previously from $100.00) on shares of Global Payments in a research note on Tuesday, October 10th. Robert W. Baird reaffirmed a “buy” rating and set a $106.00 target price on shares of Global Payments in a research note on Tuesday, September 5th. Zacks Investment Research raised Global Payments from a “hold” rating to a “buy” rating and set a $110.00 target price for the company in a research note on Wednesday, October 11th. Finally, Barclays PLC raised their target price on Global Payments from $105.00 to $116.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 11th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-three have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $105.01.
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About Global Payments
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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