Three Peaks Capital Management LLC reduced its stake in shares of Global Payments Inc (NYSE:GPN) by 12.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 98,041 shares of the business services provider’s stock after selling 14,491 shares during the period. Global Payments comprises approximately 1.9% of Three Peaks Capital Management LLC’s holdings, making the stock its 6th biggest position. Three Peaks Capital Management LLC’s holdings in Global Payments were worth $10,934,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently made changes to their positions in the business. SWS Partners acquired a new position in shares of Global Payments in the 4th quarter valued at about $163,000. Tower Research Capital LLC TRC boosted its holdings in shares of Global Payments by 2,412.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,658 shares of the business services provider’s stock valued at $166,000 after buying an additional 1,592 shares during the period. Quantitative Systematic Strategies LLC acquired a new position in shares of Global Payments in the 1st quarter valued at about $202,000. Commerzbank Aktiengesellschaft FI acquired a new position in shares of Global Payments in the 4th quarter valued at about $233,000. Finally, Quantbot Technologies LP acquired a new position in shares of Global Payments in the 1st quarter valued at about $241,000. 96.28% of the stock is owned by institutional investors.
In other Global Payments news, EVP David Lawrence Green sold 2,198 shares of the business’s stock in a transaction dated Friday, May 11th. The shares were sold at an average price of $116.45, for a total transaction of $255,957.10. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director William I. Jacobs sold 600 shares of the business’s stock in a transaction dated Tuesday, March 13th. The stock was sold at an average price of $118.27, for a total transaction of $70,962.00. The disclosure for this sale can be found here. Insiders have sold a total of 22,648 shares of company stock worth $2,634,430 over the last 90 days. 0.98% of the stock is owned by insiders.
Several research analysts have recently commented on the stock. Zacks Investment Research raised shares of Global Payments from a “sell” rating to a “hold” rating in a report on Wednesday, May 9th. TheStreet lowered shares of Global Payments from a “b” rating to a “c” rating in a report on Thursday, May 3rd. Morgan Stanley lifted their price target on shares of Global Payments from $118.00 to $119.00 and gave the company an “equal weight” rating in a report on Friday, May 4th. ValuEngine raised shares of Global Payments from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. Finally, SunTrust Banks lifted their price target on shares of Global Payments to $145.00 and gave the company a “buy” rating in a report on Friday, March 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-one have assigned a buy rating to the stock. Global Payments presently has an average rating of “Buy” and an average target price of $112.42.
GPN stock opened at $117.89 on Thursday. Global Payments Inc has a 52 week low of $87.30 and a 52 week high of $118.94. The stock has a market cap of $18.36 billion, a price-to-earnings ratio of 29.40, a P/E/G ratio of 1.38 and a beta of 1.11. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.06 and a current ratio of 1.06.
Global Payments (NYSE:GPN) last released its quarterly earnings results on Thursday, May 3rd. The business services provider reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.03. Global Payments had a net margin of 13.27% and a return on equity of 17.66%. The company had revenue of $924.30 million for the quarter, compared to the consensus estimate of $914.06 million. During the same period in the previous year, the firm earned $0.85 EPS. Global Payments’s revenue was up 17.3% on a year-over-year basis. research analysts expect that Global Payments Inc will post 4.87 EPS for the current year.
Global Payments announced that its board has approved a share repurchase program on Thursday, February 15th that authorizes the company to buyback $600.00 million in outstanding shares. This buyback authorization authorizes the business services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 15th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, June 14th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. Global Payments’s dividend payout ratio (DPR) is 1.00%.
Global Payments Company Profile
Global Payments Inc provides payment technology and software solutions for credit cards, debit cards, electronic payments, and check-related services. 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, online reporting, industry compliance, and payment card industry security services.
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