Laffer Investments lessened its position in shares of Global Payments Inc (NYSE:GPN) by 6.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 22,175 shares of the business services provider’s stock after selling 1,590 shares during the quarter. Laffer Investments’ holdings in Global Payments were worth $2,107,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in GPN. Thompson Davis & CO. Inc. grew its position in shares of Global Payments by 0.8% in the second quarter. Thompson Davis & CO. Inc. now owns 1,197 shares of the business services provider’s stock valued at $108,000 after purchasing an additional 10 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Global Payments by 0.3% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 11,329 shares of the business services provider’s stock worth $1,023,000 after purchasing an additional 34 shares during the period. First Personal Financial Services raised its stake in Global Payments by 1.7% during the second quarter. First Personal Financial Services now owns 2,875 shares of the business services provider’s stock worth $260,000 after purchasing an additional 47 shares during the period. Keybank National Association OH raised its stake in Global Payments by 1.5% during the second quarter. Keybank National Association OH now owns 3,792 shares of the business services provider’s stock worth $342,000 after purchasing an additional 56 shares during the period. Finally, HPM Partners LLC raised its stake in Global Payments by 0.6% during the second quarter. HPM Partners LLC now owns 9,384 shares of the business services provider’s stock worth $848,000 after purchasing an additional 59 shares during the period. Institutional investors own 98.97% of the company’s stock.
A number of equities analysts have commented on the stock. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $113.00 target price on shares of Global Payments in a research note on Friday, November 17th. Zacks Investment Research downgraded shares of Global Payments from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. SunTrust Banks restated a “buy” rating and issued a $120.00 price objective on shares of Global Payments in a report on Friday, November 10th. Nomura lifted their price objective on shares of Global Payments from $83.00 to $85.00 and gave the company a “reduce” rating in a report on Thursday, November 9th. Finally, Morgan Stanley lifted their price objective on shares of Global Payments from $106.00 to $110.00 and gave the company an “equal weight” rating in a report on Thursday, November 9th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-three have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $105.01.
In related news, Director Robert H. B. Baldwin, Jr. sold 26,000 shares of the stock in a transaction dated Thursday, October 12th. The shares were sold at an average price of $99.82, for a total value of $2,595,320.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Alan M. Silberstein sold 600 shares of the stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $97.70, for a total transaction of $58,620.00. Following the completion of the sale, the director now directly owns 46,693 shares in the company, valued at $4,561,906.10. The disclosure for this sale can be found here. Insiders sold a total of 29,000 shares of company stock valued at $2,891,474 in the last quarter. Insiders own 0.93% of the company’s stock.
Shares of Global Payments Inc (NYSE:GPN) traded down $0.78 during trading on Thursday, reaching $99.36. 1,049,800 shares of the company’s stock were exchanged, compared to its average volume of 1,116,849. The stock has a market cap of $15,936.52, a P/E ratio of 26.92, a P/E/G ratio of 1.84 and a beta of 1.11. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.14 and a current ratio of 1.14. Global Payments Inc has a 52 week low of $68.98 and a 52 week high of $104.90.
Global Payments (NYSE:GPN) last announced its quarterly earnings results on Wednesday, November 8th. The business services provider reported $1.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.03 by $0.12. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $917.31 million. Global Payments had a net margin of 7.14% and a return on equity of 18.50%. The business’s revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.89 EPS. equities analysts anticipate that Global Payments Inc will post 3.81 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.04%. Global Payments’s dividend payout ratio is presently 2.23%.
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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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