Piedmont Investment Advisors Inc. grew its holdings in Global Payments Inc (NYSE:GPN) by 1.7% in the 1st quarter, HoldingsChannel reports. The fund owned 14,065 shares of the business services provider’s stock after buying an additional 229 shares during the period. Piedmont Investment Advisors Inc.’s holdings in Global Payments were worth $1,920,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of GPN. Cornerstone Advisors Inc. raised its stake in shares of Global Payments by 114.9% in the first quarter. Cornerstone Advisors Inc. now owns 202 shares of the business services provider’s stock worth $28,000 after purchasing an additional 108 shares during the last quarter. Berman Capital Advisors LLC raised its stake in shares of Global Payments by 317.5% in the first quarter. Berman Capital Advisors LLC now owns 238 shares of the business services provider’s stock worth $32,000 after purchasing an additional 181 shares during the last quarter. Ranger Investment Management L.P. purchased a new position in shares of Global Payments in the fourth quarter worth about $26,000. Lindbrook Capital LLC raised its stake in shares of Global Payments by 171.2% in the first quarter. Lindbrook Capital LLC now owns 320 shares of the business services provider’s stock worth $43,000 after purchasing an additional 202 shares during the last quarter. Finally, Legacy Advisors LLC purchased a new position in shares of Global Payments in the first quarter worth about $44,000. 99.32% of the stock is owned by institutional investors and hedge funds.
Shares of GPN stock opened at $153.44 on Friday. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market cap of $24.12 billion, a P/E ratio of 29.56, a P/E/G ratio of 1.53 and a beta of 1.20. Global Payments Inc has a twelve month low of $94.81 and a twelve month high of $152.24.
Global Payments (NYSE:GPN) last announced its quarterly earnings results on Thursday, May 2nd. The business services provider reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.12. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Global Payments had a return on equity of 19.83% and a net margin of 13.69%. Global Payments’s quarterly revenue was up 12.8% on a year-over-year basis. During the same period last year, the business earned $1.13 earnings per share. As a group, equities analysts predict that Global Payments Inc will post 5.79 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th 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, June 13th. Global Payments’s dividend payout ratio is currently 0.77%.
In other Global Payments news, Director Alan M. Silberstein sold 4,276 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $132.43, for a total value of $566,270.68. Following the sale, the director now directly owns 51,049 shares of the company’s stock, valued at $6,760,419.07. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jeffrey Steven Sloan sold 167,545 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $129.59, for a total value of $21,712,156.55. Following the completion of the sale, the chief executive officer now directly owns 579,207 shares in the company, valued at $75,059,435.13. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 211,079 shares of company stock valued at $27,503,399. 0.88% of the stock is owned by company insiders.
Several research analysts have recently issued reports on the company. Zacks Investment Research upgraded Global Payments from a “sell” rating to a “hold” rating in a research note on Monday, February 18th. JPMorgan Chase & Co. raised their price objective on Global Payments from $140.00 to $151.00 and gave the stock an “overweight” rating in a research note on Monday, May 6th. SunTrust Banks raised their price objective on Global Payments to $155.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. restated an “outperform” rating and issued a $143.00 price objective (up from $130.00) on shares of Global Payments in a research note on Thursday, February 14th. Finally, Susquehanna Bancshares upgraded Global Payments from a “neutral” rating to a “positive” rating and raised their price objective for the stock from $130.00 to $170.00 in a research note on Tuesday, May 7th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $143.10.
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Global Payments 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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