Stevens Capital Management LP Purchases New Position in Global Payments Inc. (GPN)

Stevens Capital Management LP purchased a new position in shares of Global Payments Inc. (NYSE:GPN) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 123,902 shares of the business services provider’s stock, valued at approximately $11,774,000. Stevens Capital Management LP owned about 0.08% of Global Payments as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the stock. Thompson Davis & CO. Inc. grew its stake in Global Payments by 0.8% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 1,197 shares of the business services provider’s stock worth $108,000 after buying an additional 10 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in Global Payments by 0.3% during the 2nd 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 acquiring an additional 34 shares during the period. Xact Kapitalforvaltning AB lifted its position in Global Payments by 0.3% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 11,990 shares of the business services provider’s stock worth $1,083,000 after acquiring an additional 41 shares during the period. First Personal Financial Services lifted its position in Global Payments by 1.7% during the 2nd quarter. First Personal Financial Services now owns 2,875 shares of the business services provider’s stock worth $260,000 after acquiring an additional 47 shares during the period. Finally, Keybank National Association OH lifted its position in Global Payments by 1.5% during the 2nd quarter. Keybank National Association OH now owns 3,792 shares of the business services provider’s stock worth $342,000 after acquiring an additional 56 shares during the period. Hedge funds and other institutional investors own 98.10% of the company’s stock.

In other Global Payments news, Director Alan M. Silberstein sold 600 shares of the company’s stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $93.74, for a total value of $56,244.00. Following the completion of the transaction, the director now directly owns 47,293 shares in the company, valued at approximately $4,433,245.82. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Robert H. B. Baldwin, Jr. sold 5,600 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $94.58, for a total transaction of $529,648.00. Following the completion of the transaction, the director now owns 178,177 shares of the company’s stock, valued at $16,851,980.66. The disclosure for this sale can be found here. In the last three months, insiders sold 153,549 shares of company stock valued at $14,698,521. 0.93% of the stock is owned by insiders.

GPN has been the subject of a number of recent research reports. Nomura reaffirmed a “sell” rating and set a $83.00 price objective on shares of Global Payments in a research report on Monday, October 16th. Barclays PLC raised their price target on Global Payments from $98.00 to $105.00 and gave the company an “overweight” rating in a report on Friday, August 4th. Credit Suisse Group reissued an “outperform” rating and issued a $97.00 price target (up from $91.00) on shares of Global Payments in a report on Thursday, July 13th. Morgan Stanley raised their price target on Global Payments from $98.00 to $106.00 and gave the company an “equal weight” rating in a report on Thursday. Finally, Robert W. Baird reissued a “buy” rating and issued a $106.00 price target on shares of Global Payments in a report on Tuesday, September 5th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and twenty-two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $100.53.

Shares of Global Payments Inc. (NYSE:GPN) traded up $0.98 during trading on Monday, reaching $104.59. The company had a trading volume of 179,380 shares, compared to its average volume of 1,009,448. Global Payments Inc. has a 52-week low of $64.63 and a 52-week high of $104.47. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 1.39. The firm has a market capitalization of $15,799.36, a PE ratio of 30.03, a P/E/G ratio of 1.90 and a beta of 1.14.

Global Payments (NYSE:GPN) last issued its quarterly earnings data on Thursday, August 3rd. The business services provider reported $0.94 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.07. The business had revenue of $847.90 million during the quarter, compared to the consensus estimate of $837.76 million. Global Payments had a net margin of 6.65% and a return on equity of 18.32%. The firm’s revenue was up 18.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.76 EPS. analysts predict that Global Payments Inc. will post 3.74 EPS for the current fiscal year.

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

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