North Star Asset Management Inc. Has $12,846,000 Stake in Global Payments Inc. (GPN)
North Star Asset Management Inc. continued to hold its stake in shares of Global Payments Inc. (NYSE:GPN) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 196,723 shares of the company’s stock at the end of the second quarter. Global Payments comprises about 1.5% of North Star Asset Management Inc.’s holdings, making the stock its 12th largest position. North Star Asset Management Inc.’s holdings in Global Payments were worth $12,846,000 as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in the company. Financial Architects Inc increased its stake in Global Payments by 1,305.2% in the second quarter. Financial Architects Inc now owns 1,616 shares of the company’s stock worth $115,000 after buying an additional 1,501 shares during the period. Raymond James Trust N.A. purchased a new stake in Global Payments during the second quarter worth $250,000. Candriam Luxembourg S.C.A. purchased a new stake in Global Payments during the second quarter worth $339,000. Lucus Advisors LLC increased its stake in Global Payments by 6.5% in the second quarter. Lucus Advisors LLC now owns 4,840 shares of the company’s stock worth $345,000 after buying an additional 296 shares during the period. Finally, LS Investment Advisors LLC increased its stake in Global Payments by 36.4% in the second quarter. LS Investment Advisors LLC now owns 4,881 shares of the company’s stock worth $348,000 after buying an additional 1,303 shares during the period. 96.56% of the stock is owned by hedge funds and other institutional investors.
Shares of Global Payments Inc. (NYSE:GPN) traded down 3.76% during trading on Friday, reaching $76.01. The company’s stock had a trading volume of 2,156,477 shares. The firm’s 50-day moving average is $75.84 and its 200 day moving average is $73.90. The company has a market cap of $11.68 billion, a PE ratio of 37.26 and a beta of 1.09. Global Payments Inc. has a 52-week low of $51.29 and a 52-week high of $79.93.
Global Payments (NYSE:GPN) last released its quarterly earnings data on Wednesday, October 5th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.03. The firm had revenue of $939.50 million for the quarter. Global Payments had a return on equity of 22.33% and a net margin of 8.74%. Global Payments’s quarterly revenue was up 52.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.79 EPS. On average, equities research analysts predict that Global Payments Inc. will post $3.48 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 25th. Shareholders of record on Friday, November 11th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Tuesday, November 8th. This represents a $0.04 annualized dividend and a yield of 0.05%. Global Payments’s dividend payout ratio is 2.06%.
GPN has been the subject of a number of recent research reports. Robert W. Baird reaffirmed an “outperform” rating and set a $85.00 price target on shares of Global Payments in a research note on Tuesday, September 6th. Zacks Investment Research raised Global Payments from a “hold” rating to a “buy” rating and set a $86.00 price objective on the stock in a research note on Monday. William Blair reissued an “outperform” rating on shares of Global Payments in a research note on Tuesday, September 27th. Oppenheimer Holdings Inc. reissued an “outperform” rating and issued a $85.00 price objective on shares of Global Payments in a research note on Wednesday, September 28th. Finally, Goldman Sachs Group Inc. raised Global Payments from a “neutral” rating to a “buy” rating and raised their price objective for the company from $80.00 to $88.00 in a research note on Thursday, September 15th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eighteen have issued a buy rating to the company. Global Payments presently has a consensus rating of “Buy” and an average price target of $77.92.
In other news, insider David E. Mangum sold 88,938 shares of the stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $75.07, for a total transaction of $6,676,575.66. Following the transaction, the insider now owns 172,060 shares in the company, valued at $12,916,544.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director William I. Jacobs sold 600 shares of the 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 owns 44,716 shares in the company, valued at approximately $3,389,472.80. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.
About Global Payments
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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