Northwestern Mutual Investment Management Company LLC Has $419,000 Stake in Global Payments Inc. (GPN)
Northwestern Mutual Investment Management Company LLC reduced its position in Global Payments Inc. (NYSE:GPN) by 98.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,874 shares of the company’s stock after selling 540,786 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in Global Payments were worth $419,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of GPN. Lazard Asset Management LLC increased its position in shares of Global Payments by 66.4% in the first quarter. Lazard Asset Management LLC now owns 113,522 shares of the company’s stock worth $7,412,000 after buying an additional 45,281 shares during the last quarter. Rafferty Asset Management LLC increased its stake in Global Payments by 49.2% in the first quarter. Rafferty Asset Management LLC now owns 17,533 shares of the company’s stock valued at $1,145,000 after buying an additional 5,784 shares in the last quarter. Cupps Capital Management LLC bought a new stake in Global Payments during the first quarter valued at $1,553,000. BB&T Securities LLC increased its stake in Global Payments by 10.1% in the first quarter. BB&T Securities LLC now owns 6,160 shares of the company’s stock valued at $402,000 after buying an additional 567 shares in the last quarter. Finally, Credit Agricole S A increased its stake in Global Payments by 20.4% in the first quarter. Credit Agricole S A now owns 58,710 shares of the company’s stock valued at $3,833,000 after buying an additional 9,959 shares in the last quarter. 96.56% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Global Payments Inc. (NYSE:GPN) opened at 74.43 on Wednesday. Global Payments Inc. has a one year low of $51.29 and a one year high of $79.93. The company has a 50 day moving average of $74.92 and a 200-day moving average of $72.61. The stock has a market cap of $11.43 billion, a price-to-earnings ratio of 36.49 and a beta of 1.16.
Global Payments (NYSE:GPN) last issued its earnings results on Thursday, July 28th. The company reported $0.73 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.73. Global Payments had a return on equity of 27.99% and a net margin of 9.37%. The business earned $747.10 million during the quarter, compared to analysts’ expectations of $568.81 million. During the same quarter in the previous year, the business earned $1.22 EPS. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. On average, analysts anticipate that Global Payments Inc. will post $3.47 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, August 26th. Stockholders of record on Friday, August 12th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.05%. The ex-dividend date was Wednesday, August 10th. Global Payments’s payout ratio is currently 1.95%.
Several research firms have weighed in on GPN. Nomura reissued a “sell” rating on shares of Global Payments in a research report on Saturday, June 4th. Zacks Investment Research downgraded shares of Global Payments from a “buy” rating to a “hold” rating in a research report on Tuesday, June 7th. Robert W. Baird reissued an “outperform” rating and set a $85.00 target price on shares of Global Payments in a research report on Tuesday, September 6th. Barclays PLC boosted their target price on shares of Global Payments from $73.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday, July 29th. Finally, Jefferies Group restated a “hold” rating and set a $75.00 price objective (up from $68.00) on shares of Global Payments in a research note on Tuesday, May 24th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $76.87.
In related news, Director William I. Jacobs sold 6,360 shares of the business’s stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $75.21, for a total transaction of $478,335.60. Following the transaction, the director now directly owns 44,716 shares of the company’s stock, valued at approximately $3,363,090.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William I. Jacobs sold 600 shares of the business’s stock in a transaction that occurred on Wednesday, July 13th. The stock was sold at an average price of $75.80, for a total value of $45,480.00. Following the transaction, the director now directly owns 44,716 shares in the company, valued at $3,389,472.80. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.
Global Payments Company Profile
Global Payments Inc is a provider of payment technology services. The Company provides payment and digital commerce solutions. The Company operates in two segments: North America merchant services and International merchant services. The Company’s North America merchant services and International merchant services segments primarily provide payment solutions for credit cards, debit cards, electronic payments and check-related services.
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