Elwood & Goetz Wealth Advisory Group LLC acquired a new position in shares of Global Payments Inc (NYSE:GPN) during the 3rd quarter, HoldingsChannel.com reports. The firm acquired 2,067 shares of the business services provider’s stock, valued at approximately $329,000. Global Payments makes up approximately 0.3% of Elwood & Goetz Wealth Advisory Group LLC’s investment portfolio, making the stock its 24th biggest holding.
A number of other large investors have also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD lifted its stake in shares of Global Payments by 7.2% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 20,699,119 shares of the business services provider’s stock valued at $3,314,531,000 after purchasing an additional 1,392,325 shares during the period. Vanguard Group Inc. lifted its stake in shares of Global Payments by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 17,087,422 shares of the business services provider’s stock valued at $2,736,209,000 after purchasing an additional 150,503 shares during the period. BlackRock Inc. lifted its stake in shares of Global Payments by 4.3% in the 2nd quarter. BlackRock Inc. now owns 11,019,167 shares of the business services provider’s stock valued at $1,764,501,000 after purchasing an additional 452,606 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Global Payments by 3.9% in the 2nd quarter. Janus Henderson Group PLC now owns 4,609,039 shares of the business services provider’s stock valued at $738,044,000 after purchasing an additional 171,217 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Global Payments by 4.4% in the 2nd quarter. Northern Trust Corp now owns 1,882,683 shares of the business services provider’s stock valued at $301,474,000 after purchasing an additional 78,630 shares during the period. 97.07% of the stock is currently owned by hedge funds and other institutional investors.
Shares of GPN traded up $2.88 during trading hours on Friday, reaching $164.02. The stock had a trading volume of 36,779 shares, compared to its average volume of 2,978,749. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.20. Global Payments Inc has a 52 week low of $94.81 and a 52 week high of $175.95. The firm has a 50-day moving average of $163.03 and a 200 day moving average of $155.35. The company has a market cap of $24.68 billion, a P/E ratio of 31.56, a P/E/G ratio of 1.61 and a beta of 1.00.
Global Payments (NYSE:GPN) last released its earnings results on Tuesday, July 30th. The business services provider reported $1.51 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.46 by $0.05. The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.11 billion. Global Payments had a return on equity of 20.36% and a net margin of 13.62%. The company’s revenue was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.29 EPS. As a group, equities analysts expect that Global Payments Inc will post 5.8 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. The ex-dividend date of this dividend was Thursday, September 12th. Global Payments’s payout ratio is 0.77%.
GPN has been the topic of a number of analyst reports. Goldman Sachs Group reissued a “buy” rating and issued a $212.00 price target on shares of Global Payments in a research note on Tuesday, September 24th. Piper Jaffray Companies set a $195.00 price target on Global Payments and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Wells Fargo & Co increased their price target on Global Payments from $180.00 to $185.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Wedbush increased their price target on Global Payments from $168.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Finally, Barclays increased their price target on Global Payments from $180.00 to $195.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eighteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $172.47.
In other Global Payments news, Director Ruth Ann Marshall sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $160.24, for a total transaction of $801,200.00. Following the completion of the sale, the director now directly owns 43,677 shares in the company, valued at $6,998,802.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William I. Jacobs sold 600 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $165.05, for a total transaction of $99,030.00. Following the sale, the director now owns 30,188 shares of the company’s stock, valued at $4,982,529.40. The disclosure for this sale can be found here. Insiders sold a total of 34,410 shares of company stock valued at $5,673,358 over the last quarter. 0.88% of the stock is currently owned by company insiders.
About Global Payments
Global Payments Inc provides payment technology and software solutions for card, electronic, check, and digital-based payments. The company operates in three segments: North America, Europe, and Asia-Pacific. 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, and online reporting services.
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