Renaissance Technologies LLC lowered its stake in shares of Global Payments Inc (NYSE:GPN) by 48.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 343,545 shares of the business services provider’s stock after selling 321,800 shares during the quarter. Renaissance Technologies LLC owned about 0.22% of Global Payments worth $34,437,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of GPN. Capital International Investors boosted its position in Global Payments by 39.1% during the third quarter. Capital International Investors now owns 2,678,334 shares of the business services provider’s stock valued at $254,522,000 after purchasing an additional 752,962 shares in the last quarter. Atlanta Capital Management Co. L L C bought a new stake in Global Payments during the third quarter valued at about $23,161,000. Capital Bank & Trust Co raised its stake in Global Payments by 102.2% in the third quarter. Capital Bank & Trust Co now owns 393,153 shares of the business services provider’s stock valued at $37,361,000 after buying an additional 198,713 shares during the last quarter. Wells Fargo & Company MN raised its stake in Global Payments by 9.3% in the third quarter. Wells Fargo & Company MN now owns 1,679,426 shares of the business services provider’s stock valued at $159,596,000 after buying an additional 142,950 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Global Payments by 8.3% in the fourth quarter. Geode Capital Management LLC now owns 1,620,734 shares of the business services provider’s stock valued at $162,106,000 after buying an additional 124,076 shares during the last quarter. 96.67% of the stock is currently owned by institutional investors.
Global Payments Inc (GPN) opened at $116.55 on Tuesday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.15. The firm has a market capitalization of $18,787.89, a P/E ratio of 30.26, a P/E/G ratio of 1.54 and a beta of 1.09. Global Payments Inc has a 12-month low of $76.47 and a 12-month high of $118.94.
Global Payments (NYSE:GPN) last announced its quarterly earnings results on Thursday, February 15th. The business services provider reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.01. The company had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $943.39 million. Global Payments had a return on equity of 17.94% and a net margin of 11.78%. Global Payments’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period last year, the business earned $0.89 earnings per share. equities analysts predict that Global Payments Inc will post 4.85 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Friday, March 16th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend is Thursday, March 15th. Global Payments’s dividend payout ratio is currently 1.34%.
Global Payments declared that its Board of Directors has authorized a stock repurchase plan on Thursday, February 15th that authorizes the company to buyback $600.00 million in shares. This buyback authorization authorizes the business services provider to purchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its shares are undervalued.
A number of equities research analysts have commented on the company. Piper Jaffray Companies upgraded Global Payments from a “neutral” rating to an “overweight” rating in a research note on Friday, March 2nd. Cowen reiterated a “buy” rating and issued a $127.00 price target on shares of Global Payments in a research note on Thursday, March 1st. Deutsche Bank increased their price target on Global Payments and gave the company a “buy” rating in a research note on Friday, February 16th. Nomura increased their price target on Global Payments from $85.00 to $92.00 and gave the company a “reduce” rating in a research note on Tuesday, February 13th. Finally, SunTrust Banks reiterated a “buy” rating and issued a $130.00 price target on shares of Global Payments in a research note on Friday, February 16th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and twenty-three have given a buy rating to the company’s stock. Global Payments presently has a consensus rating of “Buy” and an average target price of $109.40.
In related news, Director William I. Jacobs sold 600 shares of Global Payments stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $103.62, for a total transaction of $62,172.00. Following the completion of the transaction, the director now directly owns 37,675 shares in the company, valued at $3,903,883.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders have sold 3,000 shares of company stock valued at $328,692. 0.93% of the stock is owned by company insiders.
Global Payments Profile
Global Payments Inc is a provider of payment technology services. The Company provides payment and digital commerce solutions. The Company operates through three segments: North America, Europe and Asia-Pacific. The Company’s segments primarily provide payment solutions for credit cards, debit cards, electronic payments and check-related services.
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