Concentric Wealth Management LLC raised its holdings in Global Payments Inc. (NYSE: GPN – Get Rating) by 2.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,407 shares of the business services provider’s stock after acquiring an additional 367 shares during the period. Concentric Wealth Management LLC’s holdings in Global Payments were worth $ 2,382,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in GPN. Tudor Investment Corp Et Al grew its position in Global Payments by 18.3% in the third quarter. Tudor Investment Corp Et Al now owns 63,565 shares of the business services provider’s stock valued at $ 10,017,000 after acquiring an additional 9,843 shares during the last quarter. LPL Financial LLC grew its position in Global Payments by 38.1% in the third quarter. LPL Financial LLC now owns 32,404 shares of the business services provider’s stock valued at $ 5,106,000 after acquiring an additional 8,940 shares during the last quarter. Psagot Value Holdings Ltd. grew its position in Global Payments by 2.7% in the third quarter. Psagot Value Holdings Ltd. now owns 46,951 shares of the business services provider’s stock valued at $ 7,399,000 after acquiring an additional 1,237 shares during the last quarter. Cetera Advisors LLC grew its holdings in shares of Global Payments by 28.9% during the third quarter. Cetera Advisors LLC now owns 1,895 shares of the business services provider’s stock worth $ 299,000 after purchasing an additional 425 shares during the last quarter. Finally, Cetera Investment Advisers grew its holdings in shares of Global Payments by 41.6% during the third quarter. Cetera Investment Advisers now owns 3,647 shares of the business services provider’s stock worth $ 575,000 after purchasing an additional 1,072 shares during the last quarter. Hedge funds and other institutional investors own 84.53% of the company stock.
In other Global Payments news, EVP David Lawrence Green sold 16,252 shares of the company stock in a transaction on Friday, June 3rd. The stock was sold at an average price of $ 130.10, for a total value of $ 2,114,385.20. Following the completion of the transaction, the executive vice president now owns 97,818 shares in the company, valued at approximately $ 12,726,121.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.19% of the stock is owned by corporate insiders.
Shares of Global Payments stock opened at $ 118.86 on Friday. The stock has a fifty day simple moving average of $ 125.02 and a 200 day simple moving average of $ 133.39. Global Payments Inc. has a 12-month low of $ 105.52 and a 12-month high of $ 196.88. The company has a market capitalization of $ 33.46 billion, a P / E ratio of 34.06, a price-to-earnings-growth ratio of 0.72 and a beta of 0.99. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.46.
Global Payments (NYSE: GPN – Get Rating) last announced its quarterly earnings results on Monday, May 2nd. The business services provider reported $ 1.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $ 1.92 by $ 0.05. Global Payments had a return on equity of 8.79% and a net margin of 11.66%. The business had revenue of $ 2.16 billion during the quarter, compared to the consensus estimate of $ 1.95 billion. During the same quarter in the prior year, the company posted $ 1.72 earnings per share. Global Payments’s revenue was up 8.3% compared to the same quarter last year. On average, analysts predict that Global Payments Inc. will post 9.09 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 24th. Shareholders of record on Friday, June 10th were paid a $ 0.25 dividend. The ex-dividend date of this dividend was Thursday, June 9th. This represents a $ 1.00 dividend on an annualized basis and a yield of 0.84%. Global Payments’ dividend payout ratio (DPR) is presently 28.65%.
GPN has been the topic of several research reports. StockNews.com initiated coverage on Global Payments in a report on Thursday, March 31st. They set a “hold” rating on the stock. Citigroup reduced their price target on Global Payments from $ 195.00 to $ 180.00 in a report on Monday, April 25th. The Goldman Sachs Group initiated coverage on Global Payments in a report on Tuesday, May 17th. They set a “neutral” rating and a $ 151.00 price target on the stock. Barclays cut their price objective on Global Payments from $ 182.00 to $ 160.00 in a research note on Tuesday, May 3rd. Finally, Morgan Stanley cut their price objective on Global Payments from $ 156.00 to $ 123.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Five investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $ 185.30.
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 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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