Regentatlantic Capital LLC trimmed its holdings in shares of Global Payments Inc (NYSE:GPN) by 9.8% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 11,024 shares of the business services provider’s stock after selling 1,194 shares during the quarter. Regentatlantic Capital LLC’s holdings in Global Payments were worth $1,505,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Cornerstone Advisors Inc. grew its holdings in Global Payments by 114.9% during the 1st 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 last quarter. Executive Wealth Management LLC grew its holdings in Global Payments by 82.3% during the 1st quarter. Executive Wealth Management LLC now owns 9,568 shares of the business services provider’s stock valued at $1,306,000 after purchasing an additional 4,319 shares during the last quarter. Comerica Bank grew its holdings in Global Payments by 2.5% during the 1st quarter. Comerica Bank now owns 41,972 shares of the business services provider’s stock valued at $5,752,000 after purchasing an additional 1,035 shares during the last quarter. Pearl River Capital LLC bought a new position in Global Payments during the 1st quarter valued at about $256,000. Finally, Candriam Luxembourg S.C.A. grew its holdings in Global Payments by 182.2% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 37,007 shares of the business services provider’s stock valued at $5,052,000 after purchasing an additional 23,893 shares during the last quarter. Hedge funds and other institutional investors own 99.63% of the company’s stock.
In related news, Director Alan M. Silberstein sold 700 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $138.96, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Alan M. Silberstein sold 4,276 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $132.43, for a total transaction of $566,270.68. Following the sale, the director now directly owns 51,049 shares of the company’s stock, valued at approximately $6,760,419.07. The disclosure for this sale can be found here. Insiders have sold 210,329 shares of company stock valued at $27,306,584 in the last three months. 0.88% of the stock is currently owned by corporate insiders.
Shares of GPN opened at $146.89 on Friday. Global Payments Inc has a fifty-two week low of $94.81 and a fifty-two week high of $147.77. The company has a market capitalization of $22.96 billion, a PE ratio of 28.30, a price-to-earnings-growth ratio of 1.48 and a beta of 1.20. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.03 and a quick ratio of 1.03.
Global Payments (NYSE:GPN) last announced its quarterly earnings results on Thursday, May 2nd. The business services provider reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.12. Global Payments had a net margin of 13.69% and a return on equity of 19.83%. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the prior year, the company earned $1.13 EPS. The company’s revenue was up 12.8% compared to the same quarter last year. As a group, equities analysts expect that Global Payments Inc will post 5.79 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a $0.01 dividend. The ex-dividend date 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%.
Several equities analysts recently commented on the stock. Wedbush upped their price target on shares of Global Payments from $135.00 to $144.00 and gave the company an “outperform” rating in a report on Wednesday, March 13th. Zacks Investment Research upgraded shares of Global Payments from a “sell” rating to a “hold” rating in a report on Monday, April 22nd. KeyCorp upped their target price on shares of Global Payments from $135.00 to $155.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 30th. JPMorgan Chase & Co. upped their target price on shares of Global Payments from $140.00 to $151.00 and gave the stock an “overweight” rating in a research note on Monday, May 6th. Finally, Susquehanna Bancshares upgraded shares of Global Payments from a “neutral” rating to a “positive” rating and upped their target price for the stock from $130.00 to $170.00 in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have given a buy rating to the company’s stock. Global Payments presently has a consensus rating of “Buy” and an average price target of $143.10.
About Global Payments
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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