William Blair Investment Management LLC increased its stake in Global Payments Inc (NYSE:GPN) by 0.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 616,968 shares of the business services provider’s stock after purchasing an additional 2,252 shares during the period. William Blair Investment Management LLC owned 0.39% of Global Payments worth $78,601,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the stock. Janney Montgomery Scott LLC boosted its position in Global Payments by 8.7% in the 2nd quarter. Janney Montgomery Scott LLC now owns 12,152 shares of the business services provider’s stock worth $1,355,000 after purchasing an additional 974 shares in the last quarter. Piedmont Investment Advisors LLC purchased a new stake in Global Payments in the 2nd quarter worth approximately $201,000. Aperio Group LLC boosted its position in Global Payments by 19.1% in the 2nd quarter. Aperio Group LLC now owns 43,357 shares of the business services provider’s stock worth $4,834,000 after purchasing an additional 6,959 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in Global Payments by 115.6% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 14,661 shares of the business services provider’s stock worth $1,635,000 after purchasing an additional 7,860 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its position in Global Payments by 6.4% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 490,452 shares of the business services provider’s stock worth $54,680,000 after purchasing an additional 29,547 shares in the last quarter. Hedge funds and other institutional investors own 97.47% of the company’s stock.
In related news, Director Alan M. Silberstein sold 700 shares of the stock in a transaction on Wednesday, November 14th. The stock was sold at an average price of $109.66, for a total value of $76,762.00. Following the completion of the transaction, the director now directly owns 42,169 shares of the company’s stock, valued at approximately $4,624,252.54. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Cameron M. Bready sold 57,737 shares of the stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $127.78, for a total value of $7,377,633.86. Following the completion of the transaction, the insider now directly owns 189,083 shares of the company’s stock, valued at $24,161,025.74. The disclosure for this sale can be found here. Over the last three months, insiders sold 90,055 shares of company stock valued at $11,425,119. 0.98% of the stock is owned by corporate insiders.
Global Payments (NYSE:GPN) last posted its quarterly earnings data on Tuesday, October 30th. The business services provider reported $1.44 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.39 by $0.05. Global Payments had a return on equity of 18.38% and a net margin of 17.48%. The firm had revenue of $857.70 million during the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the prior year, the company earned $1.15 EPS. The firm’s revenue was down 17.4% compared to the same quarter last year. Sell-side analysts expect that Global Payments Inc will post 4.88 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, December 14th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.04%. The ex-dividend date of this dividend is Thursday, December 13th. Global Payments’s dividend payout ratio is currently 1.00%.
Several equities research analysts have commented on GPN shares. KeyCorp restated a “buy” rating on shares of Global Payments in a research report on Friday, August 3rd. Buckingham Research increased their target price on Global Payments from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, August 3rd. Cantor Fitzgerald reiterated a “buy” rating and set a $136.00 target price on shares of Global Payments in a research report on Friday, August 3rd. ValuEngine upgraded Global Payments from a “hold” rating to a “buy” rating in a research report on Friday, August 3rd. Finally, Deutsche Bank increased their target price on Global Payments to $140.00 and gave the company a “buy” rating in a research report on Friday, September 14th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have given a buy rating to the company. Global Payments presently has a consensus rating of “Buy” and a consensus target price of $123.30.
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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.
See Also: Return on Equity (ROE)
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