Virginia Retirement Systems ET AL raised its position in shares of Global Payments Inc. (NYSE:GPN – Get Rating) by 1.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 67,600 shares of the business services provider’s stock after buying an additional 700 shares during the quarter. Virginia Retirement Systems ET AL’s holdings in Global Payments were worth $9,250,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Parkside Financial Bank & Trust raised its stake in Global Payments by 34.6% during the fourth quarter. Parkside Financial Bank & Trust now owns 385 shares of the business services provider’s stock valued at $52,000 after buying an additional 99 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in Global Payments by 30.4% during the fourth quarter. Geneos Wealth Management Inc. now owns 437 shares of the business services provider’s stock valued at $59,000 after buying an additional 102 shares in the last quarter. Panagora Asset Management Inc. raised its stake in Global Payments by 1.0% during the fourth quarter. Panagora Asset Management Inc. now owns 10,644 shares of the business services provider’s stock valued at $1,439,000 after buying an additional 103 shares in the last quarter. Bell Investment Advisors Inc raised its position in shares of Global Payments by 128.6% during the 4th quarter. Bell Investment Advisors Inc now owns 192 shares of the business services provider’s stock worth $26,000 after purchasing an additional 108 shares during the period. Finally, Glassman Wealth Services raised its position in shares of Global Payments by 99.1% during the 4th quarter. Glassman Wealth Services now owns 225 shares of the business services provider’s stock worth $30,000 after purchasing an additional 112 shares during the period. Hedge funds and other institutional investors own 84.53% of the company’s stock.
GPN opened at $110.93 on Friday. The stock has a fifty-day moving average of $122.22 and a 200-day moving average of $132.91. The firm has a market capitalization of $31.23 billion, a P/E ratio of 31.79, a PEG ratio of 0.72 and a beta of 1.04. Global Payments Inc. has a 12-month low of $105.52 and a 12-month high of $196.88. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.46.
Global Payments (NYSE:GPN – Get Rating) last released its earnings results on Monday, May 2nd. The business services provider reported $1.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.92 by $0.05. The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $1.95 billion. Global Payments had a return on equity of 8.79% and a net margin of 11.66%. 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 company earned $1.72 earnings per share. On average, analysts expect that Global Payments Inc. will post 9.08 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 24th. Stockholders of record on Friday, June 10th were issued a $0.25 dividend. The ex-dividend date was Thursday, June 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.90%. Global Payments’s payout ratio is currently 28.65%.
In other news, EVP David Lawrence Green sold 16,252 shares of the 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 sale, the executive vice president now owns 97,818 shares in the company, valued at $12,726,121.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.19% of the stock is owned by corporate insiders.
A number of analysts have recently weighed in on the company. The Goldman Sachs Group assumed coverage on Global Payments in a research report on Tuesday, May 17th. They set a “neutral” rating and a $151.00 price target on the stock. KeyCorp dropped their price target on Global Payments from $175.00 to $165.00 and set an “overweight” rating on the stock in a research report on Monday, March 28th. Barclays dropped their price target on Global Payments from $182.00 to $160.00 in a research report on Tuesday, May 3rd. Wells Fargo & Company assumed coverage on Global Payments in a report on Monday, April 4th. They issued an “overweight” rating and a $194.00 price objective for the company. Finally, Citigroup decreased their price objective on Global Payments from $195.00 to $180.00 in a report on Monday, April 25th. Five investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $182.48.
About Global Payments: (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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