Wells Fargo & Company MN lessened its holdings in Global Payments (NYSE:GPN) by 4.2% in the first quarter, HoldingsChannel.com reports. The fund owned 1,627,751 shares of the business services provider’s stock after selling 71,132 shares during the period. Wells Fargo & Company MN’s holdings in Global Payments were worth $181,527,000 as of its most recent filing with the SEC.
Other institutional investors have also made changes to their positions in the company. Chevy Chase Trust Holdings Inc. boosted its position in shares of Global Payments by 3.7% in the fourth quarter. Chevy Chase Trust Holdings Inc. now owns 138,142 shares of the business services provider’s stock valued at $13,847,000 after acquiring an additional 4,870 shares during the period. Daiwa Securities Group Inc. boosted its position in shares of Global Payments by 70.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 113,125 shares of the business services provider’s stock valued at $11,339,000 after acquiring an additional 46,813 shares during the period. Norinchukin Bank The boosted its position in shares of Global Payments by 12.1% in the fourth quarter. Norinchukin Bank The now owns 12,723 shares of the business services provider’s stock valued at $1,275,000 after acquiring an additional 1,373 shares during the period. Westpac Banking Corp boosted its position in shares of Global Payments by 20.4% in the fourth quarter. Westpac Banking Corp now owns 21,228 shares of the business services provider’s stock valued at $2,128,000 after acquiring an additional 3,600 shares during the period. Finally, Public Employees Retirement Association of Colorado raised its stake in Global Payments by 3.3% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 30,607 shares of the business services provider’s stock valued at $3,068,000 after purchasing an additional 968 shares in the last quarter. 96.84% of the stock is owned by institutional investors.
In other news, Director Alan M. Silberstein sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $114.34, for a total value of $68,604.00. Following the completion of the transaction, the director now owns 43,693 shares of the company’s stock, valued at $4,995,857.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP David Lawrence Green sold 2,198 shares of the company’s stock in a transaction that occurred on Friday, May 11th. The shares were sold at an average price of $116.45, for a total value of $255,957.10. The disclosure for this sale can be found here. Insiders sold 22,648 shares of company stock valued at $2,634,634 in the last ninety days. 0.98% of the stock is currently owned by insiders.
Shares of NYSE GPN opened at $113.76 on Friday. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.06 and a quick ratio of 1.06. The stock has a market cap of $18.16 billion, a price-to-earnings ratio of 27.36, a price-to-earnings-growth ratio of 1.36 and a beta of 1.13. Global Payments has a 12 month low of $87.30 and a 12 month high of $118.94.
Global Payments (NYSE:GPN) last issued its earnings results on Thursday, May 3rd. The business services provider reported $1.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.10 by $0.03. The firm had revenue of $924.30 million during the quarter, compared to the consensus estimate of $914.06 million. Global Payments had a return on equity of 17.66% and a net margin of 13.27%. The business’s quarterly revenue was up 17.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.85 earnings per share. sell-side analysts predict that Global Payments will post 4.87 earnings per share for the current year.
Global Payments declared that its board has initiated a stock buyback plan on Thursday, February 15th that permits the company to repurchase $600.00 million in shares. This repurchase authorization permits the business services provider to buy shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 15th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.04%. The ex-dividend date of this dividend is Thursday, June 14th. Global Payments’s payout ratio is 1.00%.
GPN has been the subject of a number of analyst reports. BMO Capital Markets reaffirmed a “buy” rating and issued a $135.00 price target on shares of Global Payments in a research note on Friday, February 16th. TheStreet downgraded Global Payments from a “b” rating to a “c” rating in a research note on Thursday, May 3rd. Robert W. Baird reaffirmed a “buy” rating and issued a $124.00 price target on shares of Global Payments in a research note on Tuesday, January 23rd. SunTrust Banks boosted their price target on Global Payments to $145.00 and gave the company a “buy” rating in a research note on Friday, March 2nd. Finally, Piper Jaffray raised Global Payments from a “neutral” rating to an “overweight” rating in a research note on Friday, March 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-two have assigned a buy rating to the company. Global Payments presently has an average rating of “Buy” and a consensus target price of $112.21.
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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