Massmutual Trust Co. FSB ADV raised its position in Global Payments Inc. (NYSE:GPN – Free Report) by 46.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 498 shares of the business services provider’s stock after acquiring an additional 157 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Global Payments were worth $57,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of GPN. Norges Bank acquired a new stake in Global Payments in the fourth quarter valued at approximately $261,300,000. Mizuho Markets Americas LLC grew its position in shares of Global Payments by 3,956.9% during the first quarter. Mizuho Markets Americas LLC now owns 1,739,189 shares of the business services provider’s stock worth $120,543,000 after buying an additional 1,696,319 shares in the last quarter. Nomura Holdings Inc. acquired a new stake in shares of Global Payments during the fourth quarter worth approximately $131,733,000. Morgan Stanley grew its position in shares of Global Payments by 50.0% during the fourth quarter. Morgan Stanley now owns 3,055,514 shares of the business services provider’s stock worth $303,474,000 after buying an additional 1,018,338 shares in the last quarter. Finally, Perpetual Ltd acquired a new stake in shares of Global Payments during the first quarter worth approximately $97,583,000. Institutional investors and hedge funds own 85.23% of the company’s stock.
Insiders Place Their Bets
In other Global Payments news, CFO Joshua J. Whipple sold 37,096 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $127.28, for a total transaction of $4,721,578.88. Following the completion of the sale, the chief financial officer now owns 39,772 shares of the company’s stock, valued at $5,062,180.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider David Lawrence Green sold 17,920 shares of the stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $112.53, for a total value of $2,016,537.60. Following the completion of the sale, the insider now directly owns 77,411 shares of the company’s stock, valued at $8,711,059.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Joshua J. Whipple sold 37,096 shares of the stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 39,772 shares of the company’s stock, valued at $5,062,180.16. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.
Global Payments Stock Up 0.2 %
Global Payments (NYSE:GPN – Get Free Report) last announced its quarterly earnings results on Tuesday, October 31st. The business services provider reported $2.75 EPS for the quarter, beating the consensus estimate of $2.55 by $0.20. The business had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.23 billion. Global Payments had a return on equity of 11.28% and a net margin of 9.23%. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.37 EPS. Equities analysts anticipate that Global Payments Inc. will post 9.76 EPS for the current fiscal year.
Global Payments Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.00 annualized dividend and a dividend yield of 0.89%. Global Payments’s payout ratio is 29.94%.
Analyst Ratings Changes
A number of analysts have recently weighed in on the stock. Credit Suisse Group reissued a “neutral” rating and set a $135.00 price target on shares of Global Payments in a research report on Friday, September 8th. Sanford C. Bernstein raised their price target on shares of Global Payments from $135.00 to $160.00 and gave the stock an “outperform” rating in a research report on Thursday, August 17th. Jefferies Financial Group raised shares of Global Payments from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $125.00 to $145.00 in a report on Thursday, August 10th. Morgan Stanley lifted their price objective on shares of Global Payments from $144.00 to $146.00 and gave the stock an “overweight” rating in a report on Wednesday, August 2nd. Finally, Susquehanna decreased their price objective on shares of Global Payments from $180.00 to $150.00 and set a “positive” rating for the company in a report on Wednesday, November 1st. Two analysts have rated the stock with a sell rating, four have issued a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $145.85.
Global Payments 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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