The Manufacturers Life Insurance Company decreased its position in Global Payments Inc. (NYSE:GPN) by 1.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 180,946 shares of the business services provider’s stock after selling 2,544 shares during the period. The Manufacturers Life Insurance Company owned 0.12% of Global Payments worth $16,343,000 as of its most recent filing with the SEC.
A number of other large investors have also recently bought and sold shares of GPN. Sun Life Financial INC increased its stake in shares of Global Payments by 15,728.6% during the 2nd quarter. Sun Life Financial INC now owns 1,108 shares of the business services provider’s stock worth $100,000 after purchasing an additional 1,101 shares during the last quarter. Thompson Davis & CO. Inc. boosted its holdings in Global Payments by 0.8% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 1,197 shares of the business services provider’s stock worth $108,000 after buying an additional 10 shares during the period. Commonwealth Bank of Australia boosted its holdings in Global Payments by 13.6% in the 2nd quarter. Commonwealth Bank of Australia now owns 1,466 shares of the business services provider’s stock worth $131,000 after buying an additional 176 shares during the period. Stephens Inc. AR bought a new position in Global Payments in the 2nd quarter worth approximately $143,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in Global Payments by 28.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,819 shares of the business services provider’s stock worth $164,000 after buying an additional 400 shares during the period. Hedge funds and other institutional investors own 97.86% of the company’s stock.
In other Global Payments news, Director Robert H. B. Baldwin, Jr. sold 26,000 shares of Global Payments stock in a transaction that occurred on Thursday, October 12th. The stock was sold at an average price of $99.82, for a total transaction of $2,595,320.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider David E. Mangum sold 75,794 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $94.51, for a total value of $7,163,290.94. Following the completion of the sale, the insider now owns 112,930 shares of the company’s stock, valued at $10,673,014.30. The disclosure for this sale can be found here. In the last quarter, insiders have sold 153,549 shares of company stock valued at $14,698,521. 0.93% of the stock is currently owned by company insiders.
Several research analysts recently commented on GPN shares. Zacks Investment Research raised shares of Global Payments from a “hold” rating to a “buy” rating and set a $101.00 price objective for the company in a report on Thursday, July 6th. Royal Bank Of Canada reissued a “buy” rating and issued a $90.00 price target on shares of Global Payments in a report on Friday, July 7th. Credit Suisse Group restated an “outperform” rating and set a $97.00 price objective (up previously from $91.00) on shares of Global Payments in a research report on Thursday, July 13th. William Blair reiterated an “outperform” rating on shares of Global Payments in a research report on Monday, July 24th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $100.00 target price on shares of Global Payments in a research report on Thursday, August 3rd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-two have issued a buy rating to the stock. Global Payments presently has an average rating of “Buy” and an average price target of $100.32.
Global Payments Inc. (NYSE GPN) traded up 0.12% during mid-day trading on Friday, hitting $100.52. 523,158 shares of the stock were exchanged. The company has a 50 day moving average of $96.81 and a 200 day moving average of $91.74. The firm has a market cap of $15.33 billion, a P/E ratio of 77.98 and a beta of 1.11. Global Payments Inc. has a 12-month low of $64.63 and a 12-month high of $101.11.
Global Payments (NYSE:GPN) last posted its quarterly earnings data on Thursday, August 3rd. The business services provider reported $0.94 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.07. Global Payments had a return on equity of 18.32% and a net margin of 6.65%. The business had revenue of $847.90 million during the quarter, compared to the consensus estimate of $837.76 million. During the same period in the prior year, the company earned $0.76 earnings per share. The company’s revenue was up 18.4% compared to the same quarter last year. On average, equities analysts anticipate that Global Payments Inc. will post $3.95 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.04%. The ex-dividend date was Thursday, September 14th. Global Payments’s dividend payout ratio is presently 2.45%.
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About Global Payments
Global Payments Inc is a provider of payment technology services. The Company provides payment and digital commerce solutions. The Company operates through three segments: North America, Europe and Asia-Pacific. The Company’s segments primarily provide payment solutions for credit cards, debit cards, electronic payments and check-related services.
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