Veritable L.P. boosted its position in shares of Global Payments Inc. (NYSE:GPN – Free Report) by 1.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,996 shares of the business services provider’s stock after purchasing an additional 220 shares during the period. Veritable L.P.’s holdings in Global Payments were worth $1,280,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently bought and sold shares of GPN. State Street Corp lifted its position in Global Payments by 1.3% in the first quarter. State Street Corp now owns 10,819,457 shares of the business services provider’s stock valued at $1,138,638,000 after buying an additional 134,403 shares during the last quarter. Orbis Allan Gray Ltd grew its stake in shares of Global Payments by 2.9% in the first quarter. Orbis Allan Gray Ltd now owns 6,546,890 shares of the business services provider’s stock valued at $688,995,000 after buying an additional 187,253 shares in the last quarter. FMR LLC raised its holdings in shares of Global Payments by 17.5% in the 1st quarter. FMR LLC now owns 5,322,914 shares of the business services provider’s stock valued at $560,183,000 after buying an additional 791,610 shares during the period. Bank of America Corp DE lifted its stake in Global Payments by 24.8% during the 1st quarter. Bank of America Corp DE now owns 3,518,268 shares of the business services provider’s stock worth $370,263,000 after acquiring an additional 698,913 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in Global Payments by 1.8% during the 2nd quarter. Victory Capital Management Inc. now owns 3,383,196 shares of the business services provider’s stock valued at $333,312,000 after acquiring an additional 59,368 shares during the period. 85.23% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In other Global Payments news, insider David Lawrence Green sold 17,920 shares of the business’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $112.53, for a total transaction of $2,016,537.60. Following the transaction, the insider now owns 77,411 shares in the company, valued at approximately $8,711,059.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Joshua J. Whipple sold 37,096 shares of the stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $127.28, for a total value of $4,721,578.88. Following the completion of the transaction, the chief financial officer now owns 39,772 shares in the company, valued at approximately $5,062,180.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David Lawrence Green sold 17,920 shares of the business’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $112.53, for a total transaction of $2,016,537.60. Following the sale, the insider now directly owns 77,411 shares in the company, valued at approximately $8,711,059.83. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.
Global Payments Stock Down 2.3 %
Global Payments (NYSE:GPN – Get Free Report) last released its quarterly earnings results on Tuesday, October 31st. The business services provider reported $2.75 EPS for the quarter, topping the consensus estimate of $2.55 by $0.20. Global Payments had a return on equity of 11.28% and a net margin of 9.23%. The business had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.23 billion. During the same quarter in the prior year, the business earned $2.37 earnings per share. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. Analysts anticipate that Global Payments Inc. will post 9.76 EPS for the current year.
Global Payments Dividend Announcement
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 dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.89%. Global Payments’s dividend payout ratio (DPR) is 29.94%.
Wall Street Analyst Weigh In
Several analysts have recently issued reports on the stock. Susquehanna reduced their price target on shares of Global Payments from $180.00 to $150.00 and set a “positive” rating on the stock in a research report on Wednesday, November 1st. Oppenheimer raised their price target on shares of Global Payments from $130.00 to $131.00 and gave the company an “outperform” rating in a research report on Wednesday, October 18th. BMO Capital Markets cut their price objective on Global Payments from $208.00 to $180.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 1st. Barclays increased their price objective on Global Payments from $135.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, August 4th. Finally, StockNews.com raised Global Payments from a “hold” rating to a “buy” rating in a research note on Thursday, November 9th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat, Global Payments presently has a consensus rating of “Moderate Buy” and a consensus price target of $145.85.
Global Payments Company Profile
Global Payments Inc provides payment technology and software solutions for card, check, and digital-based payments in the Americas, Europe, and the Asia-Pacific. It operates through three segments: Merchant Solutions, Issuer Solutions, and Consumer Solutions. The Merchant Solutions segment offers authorization, settlement and funding, customer support, chargeback resolution, terminal rental, sales and deployment, payment security, and consolidated billing and reporting services.
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