Ellevest Inc. decreased its position in Global Payments Inc. (NYSE:GPN) by 22.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 277 shares of the business services provider’s stock after selling 81 shares during the quarter. Ellevest Inc.’s holdings in Global Payments were worth $56,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD lifted its holdings in shares of Global Payments by 4.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 48,871,833 shares of the business services provider’s stock worth $10,518,891,000 after buying an additional 2,068,616 shares in the last quarter. Synovus Financial Corp raised its stake in Global Payments by 0.6% in the 4th quarter. Synovus Financial Corp now owns 8,495,175 shares of the business services provider’s stock worth $1,830,043,000 after purchasing an additional 54,665 shares in the last quarter. Artisan Partners Limited Partnership boosted its holdings in Global Payments by 7.3% in the 4th quarter. Artisan Partners Limited Partnership now owns 4,808,665 shares of the business services provider’s stock valued at $1,035,883,000 after purchasing an additional 325,571 shares during the period. Egerton Capital UK LLP grew its position in shares of Global Payments by 25.4% during the 4th quarter. Egerton Capital UK LLP now owns 3,689,194 shares of the business services provider’s stock worth $794,726,000 after purchasing an additional 746,553 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Global Payments by 9.8% during the fourth quarter. JPMorgan Chase & Co. now owns 3,312,174 shares of the business services provider’s stock worth $713,509,000 after purchasing an additional 294,538 shares during the period. 86.71% of the stock is owned by institutional investors and hedge funds.
In related news, Director William I. Jacobs sold 500 shares of Global Payments stock in a transaction on Tuesday, February 16th. The shares were sold at an average price of $198.07, for a total transaction of $99,035.00. Following the completion of the transaction, the director now owns 21,893 shares of the company’s stock, valued at $4,336,346.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Guido Francesco Sacchi sold 12,077 shares of the business’s stock in a transaction on Tuesday, March 2nd. The shares were sold at an average price of $202.07, for a total transaction of $2,440,399.39. In the last three months, insiders sold 117,645 shares of company stock valued at $23,231,757. Insiders own 0.88% of the company’s stock.
Global Payments (NYSE:GPN) last issued its quarterly earnings results on Tuesday, May 4th. The business services provider reported $1.82 EPS for the quarter, topping analysts’ consensus estimates of $1.67 by $0.15. The company had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.77 billion. Global Payments had a net margin of 6.75% and a return on equity of 6.46%. Global Payments’s revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.58 earnings per share. Equities research analysts expect that Global Payments Inc. will post 6.01 EPS for the current year.
Global Payments declared that its Board of Directors has initiated a share repurchase plan on Monday, February 8th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the business services provider to purchase up to 2.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 25th. Shareholders of record on Friday, June 11th will be given a $0.195 dividend. The ex-dividend date of this dividend is Thursday, June 10th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.39%. Global Payments’s dividend payout ratio (DPR) is presently 13.31%.
GPN has been the topic of a number of recent research reports. Morgan Stanley raised their price objective on Global Payments from $209.00 to $216.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft boosted their price target on Global Payments from $207.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, May 3rd. Citigroup raised their target price on shares of Global Payments from $223.00 to $232.00 and gave the company a “buy” rating in a report on Tuesday, February 9th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $214.00 price target on shares of Global Payments in a report on Wednesday, January 27th. Finally, KeyCorp increased their price target on shares of Global Payments from $175.00 to $215.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 27th. Four analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $219.59.
About Global Payments
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. The company 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.
Featured Article: retirement calculator
Want to see what other hedge funds are holding GPN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Global Payments Inc. (NYSE:GPN).
Receive News & Ratings for Global Payments Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Global Payments and related companies with MarketBeat.com's FREE daily email newsletter.