Fox Run Management L.L.C. bought a new stake in Global Payments Inc. (NYSE:GPN) during the second quarter, Holdings Channel reports. The fund bought 4,000 shares of the business services provider’s stock, valued at approximately $361,000.

Several other large investors also recently bought and sold shares of GPN. Wetherby Asset Management Inc. boosted its stake in Global Payments by 0.4% in the first quarter. Wetherby Asset Management Inc. now owns 9,947 shares of the business services provider’s stock valued at $802,000 after buying an additional 39 shares in the last quarter. Xact Kapitalforvaltning AB boosted its position in shares of Global Payments by 0.3% in the second quarter. Xact Kapitalforvaltning AB now owns 11,990 shares of the business services provider’s stock worth $1,083,000 after buying an additional 41 shares during the period. Pacer Advisors Inc. boosted its position in shares of Global Payments by 3.3% in the first quarter. Pacer Advisors Inc. now owns 2,732 shares of the business services provider’s stock worth $220,000 after buying an additional 88 shares during the period. Advisor Partners LLC boosted its position in shares of Global Payments by 4.0% in the first quarter. Advisor Partners LLC now owns 3,293 shares of the business services provider’s stock worth $266,000 after buying an additional 128 shares during the period. Finally, Mn Services Vermogensbeheer B.V. boosted its position in shares of Global Payments by 4.7% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 4,099 shares of the business services provider’s stock worth $309,000 after buying an additional 185 shares during the period. 98.73% of the stock is owned by hedge funds and other institutional investors.

Global Payments Inc. (NYSE:GPN) opened at 91.71 on Wednesday. The stock has a 50 day moving average of $90.55 and a 200 day moving average of $83.08. Global Payments Inc. has a 12-month low of $64.63 and a 12-month high of $93.52. The stock has a market cap of $13.98 billion, a P/E ratio of 72.16 and a beta of 1.09.

Global Payments (NYSE:GPN) last released its quarterly earnings results on Thursday, May 4th. The business services provider reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.10. Global Payments had a net margin of 6.22% and a return on equity of 17.38%. The firm had revenue of $919.76 million for the quarter, compared to analysts’ expectations of $767.09 million. During the same quarter last year, the company earned $0.64 EPS. The firm’s revenue for the quarter was up 46.9% compared to the same quarter last year. On average, equities research analysts anticipate that Global Payments Inc. will post $3.91 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, June 23rd. Shareholders of record on Friday, June 9th were paid a dividend of $0.0133 per share. This represents a $0.05 annualized dividend and a yield of 0.06%. The ex-dividend date of this dividend was Wednesday, June 7th. This is a boost from Global Payments’s previous quarterly dividend of $0.01. Global Payments’s payout ratio is 3.45%.

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A number of research analysts recently issued reports on the stock. BMO Capital Markets lifted their price target on shares of Global Payments from $91.00 to $93.00 and gave the company an “outperform” rating in a research report on Monday, May 15th. Keefe, Bruyette & Woods reissued a “buy” rating on shares of Global Payments in a research report on Monday, May 15th. Cantor Fitzgerald reissued a “buy” rating and set a $97.00 price target (up from $93.00) on shares of Global Payments in a research report on Monday, May 8th. Royal Bank Of Canada reissued a “buy” rating and set a $90.00 price target on shares of Global Payments in a research report on Monday, May 15th. Finally, Instinet reissued a “reduce” rating and set a $79.00 price target (up from $70.00) on shares of Global Payments in a research report on Wednesday, May 17th. One analyst has rated the stock with a sell rating, one has issued a hold rating and twenty have issued a buy rating to the company’s stock. Global Payments has a consensus rating of “Buy” and an average target price of $90.28.

In other Global Payments news, Director Robert H. B. Baldwin, Jr. sold 50,000 shares of Global Payments stock in a transaction on Thursday, May 4th. The shares were sold at an average price of $85.00, for a total transaction of $4,250,000.00. Following the sale, the director now owns 267,552 shares of the company’s stock, valued at approximately $22,741,920. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robert H. B. Baldwin, Jr. sold 3,500 shares of Global Payments stock in a transaction on Thursday, April 20th. The stock was sold at an average price of $80.00, for a total transaction of $280,000.00. Following the sale, the director now directly owns 265,752 shares in the company, valued at approximately $21,260,160. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 73,602 shares of company stock worth $6,372,512. 0.93% of the stock is currently owned by corporate insiders.

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 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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Institutional Ownership by Quarter for Global Payments (NYSE:GPN)

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