Sterling Capital Management LLC Sells 614 Shares of Global Payments Inc (GPN)

Sterling Capital Management LLC reduced its stake in Global Payments Inc (NYSE:GPN) by 0.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 119,595 shares of the business services provider’s stock after selling 614 shares during the period. Sterling Capital Management LLC owned approximately 0.08% of Global Payments worth $11,365,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Neuberger Berman Group LLC boosted its stake in shares of Global Payments by 0.8% in the third quarter. Neuberger Berman Group LLC now owns 325,220 shares of the business services provider’s stock valued at $30,906,000 after buying an additional 2,620 shares during the period. Alkeon Capital Management LLC boosted its stake in shares of Global Payments by 0.6% in the third quarter. Alkeon Capital Management LLC now owns 1,200,011 shares of the business services provider’s stock valued at $114,037,000 after buying an additional 7,000 shares during the period. California Public Employees Retirement System boosted its stake in shares of Global Payments by 2.7% in the third quarter. California Public Employees Retirement System now owns 422,255 shares of the business services provider’s stock valued at $40,127,000 after buying an additional 11,229 shares during the period. Janney Capital Management LLC boosted its stake in shares of Global Payments by 46.7% in the third quarter. Janney Capital Management LLC now owns 5,017 shares of the business services provider’s stock valued at $476,000 after buying an additional 1,597 shares during the period. Finally, Crestline Management LP bought a new stake in shares of Global Payments in the third quarter valued at approximately $3,151,000. Institutional investors and hedge funds own 98.97% of the company’s stock.

GPN has been the subject of several recent research reports. Bank of America initiated coverage on Global Payments in a research note on Tuesday, September 12th. They issued a “buy” rating and a $110.00 price target for the company. Cowen restated a “buy” rating and set a $102.00 target price on shares of Global Payments in a research note on Friday, September 8th. Royal Bank of Canada restated a “buy” rating and set a $103.00 target price on shares of Global Payments in a research note on Wednesday, September 6th. Robert W. Baird restated a “buy” rating and set a $106.00 target price on shares of Global Payments in a research note on Tuesday, September 5th. Finally, Buckingham Research started coverage on Global Payments in a research note on Monday, October 2nd. They set a “buy” rating and a $113.00 target price for the company. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-three have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $105.01.

In other news, Director Alan M. Silberstein sold 600 shares of the stock in a transaction on Monday, September 18th. The stock was sold at an average price of $97.70, for a total value of $58,620.00. Following the completion of the transaction, the director now directly owns 46,693 shares in the company, valued at approximately $4,561,906.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert H. B. Baldwin, Jr. sold 26,000 shares of the stock in a transaction on Thursday, October 12th. The shares were sold at an average price of $99.82, for a total value of $2,595,320.00. The disclosure for this sale can be found here. Insiders sold a total of 29,600 shares of company stock valued at $2,951,732 over the last quarter. 0.93% of the stock is owned by corporate insiders.

Shares of Global Payments Inc (GPN) traded up $0.19 on Friday, hitting $99.54. The stock had a trading volume of 1,269,800 shares, compared to its average volume of 1,117,484. Global Payments Inc has a one year low of $68.98 and a one year high of $104.90. The company has a market cap of $15,812.39, a PE ratio of 26.71, a price-to-earnings-growth ratio of 1.83 and a beta of 1.11. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.27.

Global Payments (NYSE:GPN) last announced its quarterly earnings results on Wednesday, November 8th. The business services provider reported $1.15 EPS for the quarter, beating the Zacks’ consensus estimate of $1.03 by $0.12. Global Payments had a return on equity of 18.50% and a net margin of 7.14%. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $917.31 million. During the same period in the prior year, the company earned $0.89 EPS. Global Payments’s revenue was up 9.1% compared to the same quarter last year. research analysts anticipate that Global Payments Inc will post 3.81 earnings per share for the current fiscal 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 paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.04%. The ex-dividend date is Thursday, December 14th. Global Payments’s payout ratio is 2.23%.

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About Global Payments

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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