Global Payments Inc (GPN) Shares Sold by Guggenheim Capital LLC

Guggenheim Capital LLC reduced its holdings in Global Payments Inc (NYSE:GPN) by 7.2% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 749,047 shares of the business services provider’s stock after selling 58,519 shares during the quarter. Guggenheim Capital LLC owned 0.47% of Global Payments worth $83,534,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norinchukin Bank The increased its stake in Global Payments by 12.1% in the 4th quarter. Norinchukin Bank The now owns 12,723 shares of the business services provider’s stock worth $1,275,000 after acquiring an additional 1,373 shares during the last quarter. Toronto Dominion Bank increased its stake in Global Payments by 17.8% in the 4th quarter. Toronto Dominion Bank now owns 68,158 shares of the business services provider’s stock worth $6,832,000 after acquiring an additional 10,316 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. increased its stake in Global Payments by 32.6% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,494 shares of the business services provider’s stock worth $350,000 after acquiring an additional 859 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in Global Payments by 16.7% in the 4th quarter. Envestnet Asset Management Inc. now owns 26,499 shares of the business services provider’s stock worth $2,657,000 after acquiring an additional 3,792 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Global Payments by 5.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,552,480 shares of the business services provider’s stock worth $255,861,000 after acquiring an additional 137,628 shares during the last quarter. Institutional investors and hedge funds own 96.28% of the company’s stock.

GPN has been the subject of a number of research reports. Citigroup upped their price objective on Global Payments from $122.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, February 16th. SunTrust Banks reiterated a “buy” rating and issued a $130.00 price objective on shares of Global Payments in a report on Friday, February 16th. Deutsche Bank upped their price objective on Global Payments and gave the stock a “buy” rating in a report on Friday, February 16th. BMO Capital Markets reiterated a “buy” rating and issued a $135.00 price objective on shares of Global Payments in a report on Friday, February 16th. Finally, Cowen reiterated a “buy” rating and issued a $127.00 price objective on shares of Global Payments in a report on Thursday, March 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-one have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $112.42.

Shares of GPN stock opened at $118.48 on Thursday. The stock has a market cap of $18.64 billion, a P/E ratio of 29.55, a P/E/G ratio of 1.40 and a beta of 1.11. Global Payments Inc has a 1-year low of $87.86 and a 1-year high of $119.65. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.06 and a quick ratio of 1.06.

Global Payments (NYSE:GPN) last issued its earnings results on Thursday, May 3rd. The business services provider reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.03. The company had revenue of $924.30 million during the quarter, compared to analysts’ expectations of $914.06 million. Global Payments had a return on equity of 17.66% and a net margin of 13.27%. Global Payments’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.85 EPS. equities research analysts expect that Global Payments Inc will post 4.87 EPS for the current fiscal 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. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend is Thursday, June 14th. Global Payments’s dividend payout ratio is presently 1.00%.

Global Payments declared that its board has approved a share repurchase plan on Thursday, February 15th that allows the company to buyback $600.00 million in shares. This buyback authorization allows the business services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

In other Global Payments news, Director William I. Jacobs sold 600 shares of the company’s stock in a transaction that occurred on Friday, April 13th. The stock was sold at an average price of $110.00, for a total transaction of $66,000.00. Following the completion of the transaction, the director now owns 35,875 shares of the company’s stock, valued at approximately $3,946,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alan M. Silberstein sold 5,900 shares of the company’s stock in a transaction that occurred on Monday, March 19th. The shares were sold at an average price of $118.15, for a total value of $697,085.00. Following the transaction, the director now directly owns 46,497 shares of the company’s stock, valued at approximately $5,493,620.55. The disclosure for this sale can be found here. Insiders have sold a total of 22,048 shares of company stock valued at $2,563,468 over the last 90 days. 0.98% of the stock is currently owned by company insiders.

Global Payments Profile

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.

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

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