Bank of Montreal Can Takes Position in Global Payments Inc. (GPN)
Bank of Montreal Can acquired a new stake in Global Payments Inc. (NYSE:GPN) during the second quarter, Holdings Channel reports. The fund acquired 107,431 shares of the company’s stock, valued at approximately $7,668,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP raised its stake in Global Payments by 227.4% in the first quarter. Wellington Management Group LLP now owns 11,997,800 shares of the company’s stock valued at $783,456,000 after buying an additional 8,333,396 shares during the period. Chevy Chase Trust Holdings Inc. bought a new stake in Global Payments during the second quarter valued at about $9,426,000. Palisade Capital Management LLC NJ bought a new stake in Global Payments during the first quarter valued at about $7,167,000. AXA raised its stake in Global Payments by 68.7% in the first quarter. AXA now owns 267,312 shares of the company’s stock valued at $17,456,000 after buying an additional 108,876 shares during the period. Finally, Pictet Asset Management Ltd. raised its stake in Global Payments by 18.4% in the first quarter. Pictet Asset Management Ltd. now owns 498,150 shares of the company’s stock valued at $30,362,000 after buying an additional 77,250 shares during the period. Hedge funds and other institutional investors own 96.56% of the company’s stock.
Global Payments Inc. (NYSE:GPN) traded down 3.76% during midday trading on Friday, hitting $76.01. The stock had a trading volume of 2,157,756 shares. The company has a market cap of $11.68 billion, a P/E ratio of 37.26 and a beta of 1.09. Global Payments Inc. has a 12 month low of $51.29 and a 12 month high of $79.93. The firm’s 50-day moving average price is $75.90 and its 200 day moving average price is $74.02.
Global Payments (NYSE:GPN) last issued its earnings results on Wednesday, October 5th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.03. The company earned $939.50 million during the quarter. Global Payments had a return on equity of 22.33% and a net margin of 8.74%. The company’s revenue was up 52.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.79 earnings per share. On average, analysts expect that Global Payments Inc. will post $3.48 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 25th. Investors of record on Friday, November 11th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.05%. The ex-dividend date is Tuesday, November 8th. Global Payments’s dividend payout ratio is presently 2.06%.
Several analysts have recently issued reports on GPN shares. Deutsche Bank AG reissued a “buy” rating and set a $85.00 target price (up from $79.00) on shares of Global Payments in a report on Thursday. Goldman Sachs Group Inc. raised Global Payments from a “neutral” rating to a “buy” rating and increased their target price for the stock from $80.00 to $88.00 in a report on Thursday, September 15th. JPMorgan Chase & Co. reissued a “buy” rating and set a $83.00 target price on shares of Global Payments in a report on Friday, July 29th. Wedbush reaffirmed an “outperform” rating and issued a $85.00 price objective on shares of Global Payments in a research note on Thursday, September 8th. Finally, Keefe, Bruyette & Woods raised their price objective on Global Payments from $88.00 to $90.00 and gave the company an “outperform” rating in a research note on Friday, July 29th. One 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’s stock. Global Payments currently has a consensus rating of “Buy” and an average target price of $77.92.
In other Global Payments news, 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 completion of the sale, the director now owns 44,716 shares in the company, valued at approximately $3,389,472.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO David E. Mangum sold 8,400 shares of the stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $74.71, for a total value of $627,564.00. Following the completion of the sale, the chief operating officer now owns 172,060 shares of the company’s stock, valued at approximately $12,854,602.60. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.
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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