Homrich & Berg Purchases 24,636 Shares of Global Payments Inc (NYSE:GPN)

Homrich & Berg increased its position in Global Payments Inc (NYSE:GPN) by 1,609.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,167 shares of the business services provider’s stock after purchasing an additional 24,636 shares during the period. Homrich & Berg’s holdings in Global Payments were worth $4,161,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Lindbrook Capital LLC increased its position in shares of Global Payments by 19.0% during the 3rd quarter. Lindbrook Capital LLC now owns 400 shares of the business services provider’s stock valued at $64,000 after purchasing an additional 64 shares during the last quarter. HighTower Advisors LLC increased its position in shares of Global Payments by 0.8% during the 2nd quarter. HighTower Advisors LLC now owns 9,445 shares of the business services provider’s stock valued at $1,508,000 after purchasing an additional 74 shares during the last quarter. Corient Capital Partners LLC increased its position in shares of Global Payments by 5.0% during the 2nd quarter. Corient Capital Partners LLC now owns 1,628 shares of the business services provider’s stock valued at $261,000 after purchasing an additional 78 shares during the last quarter. Advantage Investment Management LLC increased its position in shares of Global Payments by 32.4% during the 3rd quarter. Advantage Investment Management LLC now owns 331 shares of the business services provider’s stock valued at $53,000 after purchasing an additional 81 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its position in shares of Global Payments by 61.0% during the 2nd quarter. Parkside Financial Bank & Trust now owns 235 shares of the business services provider’s stock valued at $38,000 after purchasing an additional 89 shares during the last quarter. 97.09% of the stock is owned by institutional investors and hedge funds.

Several brokerages have recently issued reports on GPN. Piper Jaffray Companies set a $195.00 target price on Global Payments and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Wells Fargo & Co raised their target price on Global Payments from $185.00 to $190.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Goldman Sachs Group reaffirmed a “buy” rating and set a $212.00 target price on shares of Global Payments in a research report on Tuesday, September 24th. William Blair reaffirmed an “outperform” rating on shares of Global Payments in a research report on Thursday, October 17th. Finally, Oppenheimer raised their target price on Global Payments from $178.00 to $192.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-one have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $177.97.

NYSE GPN traded down $0.34 during trading hours on Tuesday, hitting $171.65. The company had a trading volume of 46,935 shares, compared to its average volume of 1,805,799. Global Payments Inc has a 52 week low of $94.81 and a 52 week high of $175.95. The firm has a 50 day simple moving average of $162.56 and a 200 day simple moving average of $159.59. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.17 and a current ratio of 1.17. The firm has a market capitalization of $51.17 billion, a price-to-earnings ratio of 33.07, a PEG ratio of 1.72 and a beta of 0.98.

Global Payments (NYSE:GPN) last issued its earnings results on Thursday, October 31st. The business services provider reported $1.70 EPS for the quarter, topping the consensus estimate of $1.67 by $0.03. Global Payments had a return on equity of 9.05% and a net margin of 10.59%. The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter last year, the company earned $1.44 EPS. The firm’s revenue was up 27.4% compared to the same quarter last year. On average, research analysts forecast that Global Payments Inc will post 5.83 earnings per share for the current year.

In other news, EVP Guido Francesco Sacchi sold 10,450 shares of Global Payments stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $159.44, for a total transaction of $1,666,148.00. Following the completion of the sale, the executive vice president now owns 47,916 shares in the company, valued at approximately $7,639,727.04. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Alan M. Silberstein sold 700 shares of Global Payments stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $156.18, for a total value of $109,326.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,287 shares of company stock valued at $6,203,454. 0.88% of the stock is owned by corporate insiders.

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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Institutional Ownership by Quarter for Global Payments (NYSE:GPN)

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