Strs Ohio Has $934,000 Position in Global Payments Inc. (GPN)
Strs Ohio increased its stake in shares of Global Payments Inc. (NYSE:GPN) by 38.0% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 13,092 shares of the company’s stock after buying an additional 3,605 shares during the period. Strs Ohio’s holdings in Global Payments were worth $934,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its position 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 position in Global Payments during the second quarter valued at $9,426,000. AXA boosted its position 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. Bank of Montreal Can bought a new position in Global Payments during the second quarter valued at $7,668,000. Finally, Pictet Asset Management Ltd. boosted its position 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. Institutional investors own 96.57% of the company’s stock.
Global Payments Inc. (NYSE:GPN) traded down 0.04% during midday trading on Monday, hitting $73.01. 684,291 shares of the stock were exchanged. The company’s 50 day moving average is $75.55 and its 200 day moving average is $74.64. The company has a market capitalization of $11.22 billion, a P/E ratio of 37.58 and a beta of 1.09. Global Payments Inc. has a 1-year low of $51.29 and a 1-year high of $79.93.
Global Payments (NYSE:GPN) last issued its quarterly earnings results on Wednesday, October 5th. The company reported $0.86 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.03. The company had revenue of $939.50 million for the quarter. Global Payments had a net margin of 8.74% and a return on equity of 22.33%. Global Payments’s quarterly revenue was up 52.2% compared to the same quarter last year. During the same period last year, the firm posted $0.79 earnings per share. Analysts predict that Global Payments Inc. will post $3.48 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 25th. Investors of record on Friday, November 11th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.05%. The ex-dividend date of this dividend is Tuesday, November 8th. Global Payments’s dividend payout ratio (DPR) is currently 2.06%.
GPN has been the subject of several research analyst reports. Deutsche Bank AG reiterated a “buy” rating and issued a $85.00 price target (up previously from $79.00) on shares of Global Payments in a report on Thursday, October 6th. Goldman Sachs Group Inc. upgraded shares of Global Payments from a “neutral” rating to a “buy” rating and upped their price target for the company from $80.00 to $88.00 in a report on Thursday, September 15th. JPMorgan Chase & Co. restated a “buy” rating and set a $83.00 target price on shares of Global Payments in a report on Friday, July 29th. Wedbush restated an “outperform” rating and set a $85.00 target price on shares of Global Payments in a report on Thursday, September 8th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Global Payments from $88.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, July 29th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eighteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $78.03.
In related news, COO David E. Mangum sold 8,400 shares of the business’s stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $74.71, for a total value of $627,564.00. Following the sale, the chief operating officer now directly owns 172,060 shares in the company, valued at approximately $12,854,602.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David E. Mangum sold 88,938 shares of the business’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $75.07, for a total value of $6,676,575.66. Following the completion of the sale, the insider now owns 172,060 shares in the company, valued at $12,916,544.20. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by corporate 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 through three segments: North America, Europe and Asia-Pacific. The Company’s segments primarily provide payment solutions for credit cards, debit cards, electronic payments and check-related services.
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