Bank of Montreal Can cut its position in shares of Global Payments Inc. (NYSE:GPN – Get Rating) by 5.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 305,282 shares of the business services provider’s stock after selling 17,495 shares during the quarter. Bank of Montreal Can owned about 0.11% of Global Payments worth $41,981,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Boston Partners increased its position in shares of Global Payments by 68.2% during the fourth quarter. Boston Partners now owns 4,705,549 shares of the business services provider’s stock worth $636,935,000 after buying an additional 1,908,708 shares during the period. Geode Capital Management LLC increased its position in shares of Global Payments by 2.1% during the third quarter. Geode Capital Management LLC now owns 4,557,519 shares of the business services provider’s stock worth $716,066,000 after buying an additional 92,854 shares during the period. Victory Capital Management Inc. increased its position in shares of Global Payments by 2,266.8% during the fourth quarter. Victory Capital Management Inc. now owns 2,895,022 shares of the business services provider’s stock worth $391,349,000 after buying an additional 2,772,706 shares during the period. Janus Henderson Group PLC increased its position in shares of Global Payments by 3.4% during the third quarter. Janus Henderson Group PLC now owns 2,808,293 shares of the business services provider’s stock worth $442,532,000 after buying an additional 93,042 shares during the period. Finally, Franklin Resources Inc. increased its position in shares of Global Payments by 197.7% during the third quarter. Franklin Resources Inc. now owns 2,457,841 shares of the business services provider’s stock worth $387,306,000 after buying an additional 1,632,202 shares during the period. Institutional investors own 84.53% of the company’s stock.
GPN has been the subject of a number of research reports. Barclays reduced their price target on shares of Global Payments from $182.00 to $160.00 in a report on Tuesday, May 3rd. Stephens initiated coverage on shares of Global Payments in a report on Wednesday, April 6th. They issued an “overweight” rating and a $170.00 price target for the company. Wells Fargo & Company initiated coverage on shares of Global Payments in a report on Monday, April 4th. They issued an “overweight” rating and a $194.00 price target for the company. KeyCorp reduced their price target on shares of Global Payments from $175.00 to $165.00 and set an “overweight” rating for the company in a report on Monday, March 28th. Finally, Citigroup reduced their price target on shares of Global Payments from $195.00 to $180.00 in a report on Monday, April 25th. Six analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat, Global Payments has an average rating of “Buy” and a consensus target price of $186.46.
Global Payments (NYSE:GPN – Get Rating) last announced its quarterly earnings data on Monday, May 2nd. The business services provider reported $1.97 EPS for the quarter, topping the consensus estimate of $1.92 by $0.05. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $1.95 billion. Global Payments had a net margin of 11.66% and a return on equity of 8.79%. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.72 earnings per share. Analysts forecast that Global Payments Inc. will post 9.07 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 24th. Shareholders of record on Friday, June 10th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.82%. The ex-dividend date is Thursday, June 9th. Global Payments’s dividend payout ratio is 28.65%.
In other news, Director William I. Jacobs sold 500 shares of Global Payments stock in a transaction dated Tuesday, March 15th. The shares were sold at an average price of $127.99, for a total value of $63,995.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO David M. Sheffield sold 1,006 shares of Global Payments stock in a transaction dated Monday, February 28th. The stock was sold at an average price of $132.55, for a total transaction of $133,345.30. The disclosure for this sale can be found here. Insiders own 1.19% of the company’s stock.
Global Payments Company Profile (Get Rating)
Global Payments Inc provides payment technology and software solutions for card, electronic, check, and digital-based payments in the Americas, Europe, and the Asia-Pacific. It operates through three segments: Merchant Solutions, Issuer Solutions, and Business and Consumer Solutions. The Merchant Solutions segment 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 on-line reporting services.
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