Stevens Capital Management LP Takes Position in Global Payments (GPN)

Stevens Capital Management LP acquired a new position in shares of Global Payments (NYSE:GPN) in the 1st quarter, HoldingsChannel reports. The institutional investor acquired 69,261 shares of the business services provider’s stock, valued at approximately $7,724,000.

Several other hedge funds have also made changes to their positions in GPN. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Global Payments during the 4th quarter worth $120,000. SWS Partners acquired a new position in Global Payments in the 4th quarter worth about $163,000. Tower Research Capital LLC TRC increased its holdings in Global Payments by 2,412.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,658 shares of the business services provider’s stock worth $166,000 after purchasing an additional 1,592 shares in the last quarter. Quantitative Systematic Strategies LLC acquired a new position in Global Payments in the 1st quarter worth about $202,000. Finally, Klingenstein Fields & Co. LLC acquired a new position in Global Payments in the 4th quarter worth about $204,000. Institutional investors and hedge funds own 96.84% of the company’s stock.

In related news, Director Alan M. Silberstein sold 5,900 shares of the company’s stock in a transaction dated Monday, March 19th. The stock was sold at an average price of $118.15, for a total transaction of $697,085.00. Following the sale, the director now owns 46,497 shares in the company, valued at approximately $5,493,620.55. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Alan M. Silberstein sold 600 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $114.34, for a total value of $68,604.00. Following the sale, the director now owns 43,693 shares in the company, valued at approximately $4,995,857.62. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,648 shares of company stock worth $2,634,634. 0.98% of the stock is owned by corporate insiders.

Shares of GPN stock opened at $114.90 on Tuesday. The stock has a market capitalization of $18.53 billion, a PE ratio of 27.92, a P/E/G ratio of 1.39 and a beta of 1.13. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.01. Global Payments has a 1-year low of $114.98 and a 1-year high of $116.47.

Global Payments (NYSE:GPN) last issued its quarterly earnings results on Thursday, May 3rd. The business services provider reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.03. Global Payments had a return on equity of 17.66% and a net margin of 13.27%. The company had revenue of $924.30 million during the quarter, compared to analysts’ expectations of $914.06 million. During the same quarter in the prior year, the firm posted $0.85 earnings per share. The business’s quarterly revenue was up 17.3% on a year-over-year basis. research analysts predict that Global Payments will post 4.87 earnings per share for the current year.

Global Payments announced that its Board of Directors has approved a stock repurchase plan on Thursday, February 15th that allows the company to buyback $600.00 million in outstanding shares. This buyback authorization allows the business services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, June 15th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, June 14th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. Global Payments’s payout ratio is 1.00%.

A number of equities analysts have issued reports on the company. Nomura upped their target price on Global Payments from $85.00 to $92.00 and gave the stock a “reduce” rating in a report on Tuesday, February 13th. Zacks Investment Research cut Global Payments from a “buy” rating to a “hold” rating in a report on Tuesday, April 17th. Cowen reaffirmed a “buy” rating and issued a $127.00 target price on shares of Global Payments in a report on Thursday, March 1st. ValuEngine raised Global Payments from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. Finally, SunTrust Banks reaffirmed a “buy” rating and issued a $130.00 target price on shares of Global Payments in a report on Friday, February 16th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and twenty-two have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $110.93.

Global Payments Company Profile

Global Payments Inc provides payment technology and software solutions for credit cards, debit cards, electronic payments, and check-related services. 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, online reporting, industry compliance, and payment card industry security services.

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Institutional Ownership by Quarter for Global Payments (NYSE:GPN)

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