Wells Fargo & Company MN Purchases 142,950 Shares of Global Payments Inc. (GPN)

Wells Fargo & Company MN increased its stake in Global Payments Inc. (NYSE:GPN) by 9.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,679,426 shares of the business services provider’s stock after acquiring an additional 142,950 shares during the quarter. Wells Fargo & Company MN owned approximately 1.10% of Global Payments worth $159,596,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Thompson Davis & CO. Inc. increased its holdings in Global Payments by 0.8% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 1,197 shares of the business services provider’s stock worth $108,000 after acquiring an additional 10 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Global Payments by 0.3% in 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 in the last quarter. First Personal Financial Services increased its holdings in Global Payments by 1.7% in 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 in the last quarter. Keybank National Association OH increased its holdings in Global Payments by 1.5% in 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 in the last quarter. Finally, HPM Partners LLC increased its holdings in Global Payments by 0.6% in the 2nd quarter. HPM Partners LLC now owns 9,384 shares of the business services provider’s stock worth $848,000 after acquiring an additional 59 shares in the last quarter. 98.95% of the stock is owned by institutional investors.

In other news, Director Alan M. Silberstein sold 600 shares of the business’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $97.70, for a total transaction of $58,620.00. Following the transaction, the director now owns 46,693 shares of the company’s stock, valued at approximately $4,561,906.10. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Robert H. B. Baldwin, Jr. sold 8,200 shares of the business’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $97.61, for a total transaction of $800,402.00. Following the transaction, the director now directly owns 172,497 shares in the company, valued at approximately $16,837,432.17. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,800 shares of company stock worth $3,750,676. Corporate insiders own 0.93% of the company’s stock.

Global Payments Inc. (GPN) opened at $100.75 on Friday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.27. The firm has a market cap of $16,033.56, a PE ratio of 27.08, a PEG ratio of 1.85 and a beta of 1.12. Global Payments Inc. has a 1 year low of $66.08 and a 1 year high of $104.90.

Global Payments (NYSE:GPN) last announced its quarterly earnings results on Wednesday, November 8th. The business services provider reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.12. The firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $917.31 million. Global Payments had a net margin of 7.14% and a return on equity of 18.50%. The company’s revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.89 EPS. analysts expect that Global Payments Inc. will post 3.81 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.04 annualized dividend and a dividend yield of 0.04%. Global Payments’s payout ratio is 2.23%.

GPN has been the subject of several recent analyst reports. Bank of America initiated coverage on shares of Global Payments in a report on Tuesday, September 12th. They issued a “buy” rating and a $110.00 price target for the company. Cowen reissued a “buy” rating and issued a $102.00 price target on shares of Global Payments in a report on Friday, September 8th. Royal Bank Of Canada reissued a “buy” rating and issued a $103.00 price target on shares of Global Payments in a report on Wednesday, September 6th. 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. Finally, Buckingham Research initiated coverage on shares of Global Payments in a report on Monday, October 2nd. They issued a “buy” rating and a $113.00 price target for the company. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and twenty-three have assigned a buy rating to the company’s stock. Global Payments currently has a consensus rating of “Buy” and a consensus target price of $105.01.

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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.

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

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