Boston Private Wealth LLC bought a new position in shares of Global Payments Inc (NYSE:GPN) in the 3rd quarter, Holdings Channel.com reports. The fund bought 4,689 shares of the business services provider’s stock, valued at approximately $746,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Parallel Advisors LLC grew its stake in Global Payments by 93.4% during the 3rd quarter. Parallel Advisors LLC now owns 437 shares of the business services provider’s stock worth $69,000 after purchasing an additional 211 shares in the last quarter. Traynor Capital Management Inc. acquired a new position in Global Payments during the 3rd quarter worth $1,494,000. Creative Planning grew its stake in Global Payments by 420.2% during the 3rd quarter. Creative Planning now owns 196,695 shares of the business services provider’s stock worth $31,274,000 after purchasing an additional 158,885 shares in the last quarter. Congress Asset Management Co. MA grew its stake in Global Payments by 0.5% during the 3rd quarter. Congress Asset Management Co. MA now owns 54,272 shares of the business services provider’s stock worth $8,629,000 after purchasing an additional 283 shares in the last quarter. Finally, Gabelli Funds LLC acquired a new position in Global Payments during the 3rd quarter worth $386,000. 97.09% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Kriss Cloninger III sold 7,877 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $169.15, for a total value of $1,332,394.55. Following the completion of the sale, the director now directly owns 26,155 shares of the company’s stock, valued at approximately $4,424,118.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joia M. Johnson bought 575 shares of Global Payments stock in a transaction dated Tuesday, November 5th. The stock was purchased at an average cost of $169.35 per share, with a total value of $97,376.25. Following the completion of the acquisition, the director now directly owns 1,787 shares in the company, valued at approximately $302,628.45. The disclosure for this purchase can be found here. Insiders sold a total of 37,287 shares of company stock valued at $6,203,454 over the last three months. Company insiders own 0.88% of the company’s stock.
Global Payments stock opened at $170.26 on Friday. Global Payments Inc has a fifty-two week low of $94.81 and a fifty-two week high of $175.95. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.17 and a current ratio of 1.17. The company has a market capitalization of $26.09 billion, a P/E ratio of 32.81, a PEG ratio of 1.69 and a beta of 0.98. The stock has a 50-day simple moving average of $162.19 and a 200-day simple moving average of $159.29.
Global Payments (NYSE:GPN) last posted its earnings results on Thursday, October 31st. The business services provider reported $1.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.67 by $0.03. Global Payments had a return on equity of 9.05% and a net margin of 10.59%. The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the previous year, the business earned $1.44 EPS. The business’s quarterly revenue was up 27.4% on a year-over-year basis. As a group, analysts forecast that Global Payments Inc will post 5.83 earnings per share for the current year.
GPN has been the subject of a number of recent analyst reports. Wells Fargo & Co lifted their price target on Global Payments from $185.00 to $190.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. SunTrust Banks lifted their price target on Global Payments from $190.00 to $210.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Nomura lifted their price target on Global Payments from $105.00 to $120.00 and gave the stock a “reduce” rating in a report on Tuesday, August 6th. Barclays lifted their price target on Global Payments from $195.00 to $200.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Finally, BMO Capital Markets lifted their price target on Global Payments from $162.00 to $186.00 and gave the stock a “market perform” rating in a report on Monday, November 4th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $177.97.
Global Payments Company Profile
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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