Catalyst Capital Advisors LLC bought a new stake in Global Payments Inc (NYSE:GPN) in the first quarter, Holdings Channel reports. The fund bought 18,500 shares of the business services provider’s stock, valued at approximately $2,063,000.
A number of other large investors have also bought and sold shares of GPN. Point72 Asia Hong Kong Ltd grew its stake in Global Payments by 8,133.3% in the first quarter. Point72 Asia Hong Kong Ltd now owns 1,235 shares of the business services provider’s stock valued at $138,000 after acquiring an additional 1,220 shares during the period. SWS Partners acquired a new position in Global Payments in the fourth quarter valued at about $163,000. Tower Research Capital LLC TRC grew its stake in Global Payments by 2,412.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,658 shares of the business services provider’s stock valued at $166,000 after acquiring an additional 1,592 shares during the period. Quantitative Systematic Strategies LLC acquired a new position in Global Payments in the first quarter valued at about $202,000. Finally, TLP Group LLC grew its stake in Global Payments by 3,067.2% in the first quarter. TLP Group LLC now owns 1,932 shares of the business services provider’s stock valued at $215,000 after acquiring an additional 1,871 shares during the period. 96.26% of the stock is owned by hedge funds and other institutional investors.
GPN opened at $116.18 on Wednesday. Global Payments Inc has a 52-week low of $87.86 and a 52-week high of $119.69. The stock has a market cap of $18.75 billion, a P/E ratio of 28.97, a P/E/G ratio of 1.40 and a beta of 1.11. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.06 and a current ratio of 1.06.
Global Payments (NYSE:GPN) last released its earnings results on Thursday, May 3rd. The business services provider reported $1.13 earnings per share (EPS) for the quarter, topping 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 business had revenue of $924.30 million for the quarter, compared to analyst estimates of $914.06 million. During the same quarter in the prior year, the company posted $0.85 earnings per share. Global Payments’s revenue was up 17.3% on a year-over-year basis. equities research analysts predict that Global Payments Inc will post 4.87 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, June 15th will be issued 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 yield of 0.03%. Global Payments’s payout ratio is presently 2.99%.
A number of research analysts have issued reports on the company. TheStreet cut Global Payments from a “b” rating to a “c” rating in a research note on Thursday, May 3rd. Morgan Stanley boosted their target price on Global Payments from $118.00 to $119.00 and gave the company an “equal weight” rating in a research note on Friday, May 4th. KeyCorp reissued an “overweight” rating and issued a $125.00 target price (up from $120.00) on shares of Global Payments in a research note on Friday, March 2nd. Piper Jaffray Companies raised Global Payments from a “neutral” rating to an “overweight” rating in a research report on Friday, March 2nd. Finally, Stephens reaffirmed a “buy” rating and set a $125.00 price objective on shares of Global Payments in a research report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have issued a buy rating to the company’s stock. Global Payments currently has an average rating of “Buy” and an average target price of $111.44.
In related news, Director Ruth Ann Marshall sold 6,250 shares of the company’s stock in a transaction dated Tuesday, May 8th. The stock was sold at an average price of $114.03, for a total transaction of $712,687.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Alan M. Silberstein sold 600 shares of the company’s stock in a transaction dated Monday, June 18th. The stock was sold at an average price of $116.24, for a total value of $69,744.00. Following the sale, the director now owns 45,469 shares in the company, valued at approximately $5,285,316.56. The disclosure for this sale can be found here. Insiders have sold 27,629 shares of company stock worth $3,230,896 in the last quarter. 0.98% of the stock is currently owned by corporate insiders.
About Global Payments
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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