Great Lakes Advisors LLC increased its holdings in shares of Global Payments (NYSE:GPN) by 5.7% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 50,578 shares of the business services provider’s stock after purchasing an additional 2,708 shares during the quarter. Great Lakes Advisors LLC’s holdings in Global Payments were worth $5,640,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Chevy Chase Trust Holdings Inc. increased its holdings in shares of Global Payments by 3.7% during the fourth quarter. Chevy Chase Trust Holdings Inc. now owns 138,142 shares of the business services provider’s stock valued at $13,847,000 after purchasing an additional 4,870 shares during the period. Daiwa Securities Group Inc. boosted its position in shares of Global Payments by 70.6% in the 4th quarter. Daiwa Securities Group Inc. now owns 113,125 shares of the business services provider’s stock valued at $11,339,000 after purchasing an additional 46,813 shares during the period. Norinchukin Bank The boosted its position in Global Payments by 12.1% during the 4th quarter. Norinchukin Bank The now owns 12,723 shares of the business services provider’s stock worth $1,275,000 after acquiring an additional 1,373 shares during the period. Westpac Banking Corp raised its stake in shares of Global Payments by 20.4% during the 4th quarter. Westpac Banking Corp now owns 21,228 shares of the business services provider’s stock worth $2,128,000 after purchasing an additional 3,600 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado raised its stake in shares of Global Payments by 3.3% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 30,607 shares of the business services provider’s stock worth $3,068,000 after purchasing an additional 968 shares in the last quarter. Hedge funds and other institutional investors own 96.84% of the company’s stock.
Several brokerages have commented on GPN. Zacks Investment Research raised Global Payments from a “sell” rating to a “hold” rating in a research report on Wednesday, May 9th. ValuEngine raised Global Payments from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. Morgan Stanley boosted their price objective on Global Payments from $118.00 to $119.00 and gave the stock an “equal weight” rating in a research note on Friday, May 4th. Deutsche Bank increased their price target on Global Payments and gave the stock a “buy” rating in a report on Friday, February 16th. Finally, TheStreet cut Global Payments from a “b” rating to a “c” rating in a research report on Thursday, May 3rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $112.21.
Global Payments stock traded down $0.08 during trading on Friday, hitting $113.76. The stock had a trading volume of 1,113,697 shares, compared to its average volume of 961,188. Global Payments has a 1 year low of $87.30 and a 1 year high of $118.94. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.01. The company has a market cap of $18.15 billion, a price-to-earnings ratio of 28.37, a PEG ratio of 1.36 and a beta of 1.13.
Global Payments (NYSE:GPN) last issued its earnings results on Thursday, May 3rd. The business services provider reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.03. The business had revenue of $924.30 million for the quarter, compared to analysts’ expectations of $914.06 million. Global Payments had a net margin of 13.27% and a return on equity of 17.66%. The business’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.85 EPS. equities research analysts forecast that Global Payments will post 4.87 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, June 15th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Thursday, June 14th. This represents a $0.04 dividend on an annualized basis and a yield of 0.04%. Global Payments’s dividend payout ratio is presently 1.00%.
Global Payments declared that its Board of Directors has authorized a share buyback plan on Thursday, February 15th that allows the company to buyback $600.00 million in shares. This buyback authorization allows the business services provider to buy shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.
In other news, Director William I. Jacobs sold 600 shares of the stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $118.27, for a total transaction of $70,962.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Alan M. Silberstein sold 5,300 shares of the stock in a transaction dated Friday, March 16th. The stock was sold at an average price of $118.20, for a total transaction of $626,460.00. Following the completion of the transaction, the director now directly owns 46,497 shares of the company’s stock, valued at $5,495,945.40. The disclosure for this sale can be found here. In the last three months, insiders sold 22,648 shares of company stock worth $2,634,634. 0.98% of the stock is owned by insiders.
Global Payments Profile
Global Payments Inc provides payment technology and software solutions for credit cards, debit cards, electronic payments, and check-related services. 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, online reporting, industry compliance, and payment card industry security services.
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