Robeco Institutional Asset Management B.V. raised its holdings in Global Payments Inc. (NYSE:GPN) by 129.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 76,206 shares of the business services provider’s stock after acquiring an additional 43,063 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Global Payments were worth $7,242,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of GPN. Janus Henderson Group PLC grew its stake in Global Payments by 11,779.8% in the second quarter. Janus Henderson Group PLC now owns 2,292,798 shares of the business services provider’s stock valued at $207,086,000 after acquiring an additional 2,273,498 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Global Payments by 162.0% during the second quarter. JPMorgan Chase & Co. now owns 3,284,298 shares of the business services provider’s stock worth $296,636,000 after buying an additional 2,030,880 shares during the period. Capital International Investors acquired a new position in shares of Global Payments during the second quarter worth about $173,900,000. Capital Guardian Trust Co. acquired a new position in shares of Global Payments during the second quarter worth about $49,793,000. Finally, Vanguard Group Inc. boosted its position in shares of Global Payments by 3.0% during the second quarter. Vanguard Group Inc. now owns 15,211,802 shares of the business services provider’s stock worth $1,373,930,000 after buying an additional 448,864 shares during the period. 97.86% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently weighed in on GPN. KeyCorp reaffirmed a “buy” rating and set a $110.00 price objective on shares of Global Payments in a research report on Friday. Robert W. Baird upped their price objective on Global Payments from $106.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, September 28th. Barclays PLC upped their price objective on Global Payments from $98.00 to $105.00 and gave the stock an “overweight” rating in a research report on Friday, August 4th. Stifel Nicolaus reaffirmed a “buy” rating and set a $103.00 price objective (up from $102.00) on shares of Global Payments in a research report on Friday, August 4th. Finally, BidaskClub cut Global Payments from a “buy” rating to a “hold” rating in a research report on Saturday, August 26th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-two have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $100.32.
Shares of Global Payments Inc. (GPN) opened at 101.57 on Friday. Global Payments Inc. has a 1-year low of $64.63 and a 1-year high of $101.59. The firm has a 50-day moving average price of $97.12 and a 200 day moving average price of $91.98. The company has a market cap of $15.49 billion, a price-to-earnings ratio of 78.80 and a beta of 1.11.
Global Payments (NYSE:GPN) last announced its earnings results on Thursday, August 3rd. The business services provider reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.07. Global Payments had a return on equity of 18.32% and a net margin of 6.65%. The firm had revenue of $847.90 million for the quarter, compared to the consensus estimate of $837.76 million. During the same quarter in the previous year, the business earned $0.76 EPS. The company’s revenue was up 18.4% compared to the same quarter last year. On average, analysts predict that Global Payments Inc. will post $3.95 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were paid a $0.01 dividend. The ex-dividend date was Thursday, September 14th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.04%. Global Payments’s payout ratio is presently 2.45%.
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In other news, Director Alan M. Silberstein sold 600 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $93.74, for a total value of $56,244.00. Following the transaction, the director now owns 47,293 shares in the company, valued at approximately $4,433,245.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 stock was sold at an average price of $94.51, for a total value of $7,163,290.94. Following the completion of the transaction, the insider now owns 112,930 shares in the company, valued at approximately $10,673,014.30. The disclosure for this sale can be found here. Insiders sold a total of 153,549 shares of company stock worth $14,698,521 in the last 90 days. Company insiders own 0.93% of the company’s stock.
Global Payments Profile
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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