Insight 2811 Inc. Sells 4,124 Shares of Global Payments Inc. (NYSE:GPN)
Insight 2811 Inc. reduced its position in shares of Global Payments Inc. (NYSE:GPN) by 58.2% during the second quarter, Holdings Channel reports. The firm owned 2,958 shares of the business services provider’s stock after selling 4,124 shares during the period. Insight 2811 Inc.’s holdings in Global Payments were worth $267,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of GPN. BP PLC purchased a new position in shares of Global Payments during the second quarter worth approximately $1,626,000. Lakeview Capital Partners LLC purchased a new position in shares of Global Payments during the second quarter worth approximately $200,000. Advisor Partners LLC increased its position in shares of Global Payments by 8.3% in the second quarter. Advisor Partners LLC now owns 3,566 shares of the business services provider’s stock worth $322,000 after buying an additional 273 shares during the period. Pictet Asset Management Ltd. increased its position in shares of Global Payments by 12.0% in the second quarter. Pictet Asset Management Ltd. now owns 1,239,214 shares of the business services provider’s stock worth $113,524,000 after buying an additional 132,962 shares during the period. Finally, Retirement Systems of Alabama increased its position in shares of Global Payments by 0.4% in the second quarter. Retirement Systems of Alabama now owns 73,932 shares of the business services provider’s stock worth $6,678,000 after buying an additional 331 shares during the period. Hedge funds and other institutional investors own 98.70% of the company’s stock.
Global Payments Inc. (NYSE:GPN) opened at 96.76 on Tuesday. The firm has a market cap of $14.75 billion, a PE ratio of 76.13 and a beta of 1.09. Global Payments Inc. has a 52-week low of $64.63 and a 52-week high of $97.94. The company’s 50 day moving average price is $91.38 and its 200 day moving average price is $84.38.
Global Payments (NYSE:GPN) last issued its quarterly earnings data on Thursday, August 3rd. The business services provider reported $0.94 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.07. The firm had revenue of $847.90 million during the quarter, compared to the consensus estimate of $837.76 million. Global Payments had a net margin of 6.65% and a return on equity of 18.32%. The business’s revenue for the quarter was up 18.4% compared to the same quarter last year. During the same period last year, the business posted $0.76 earnings per share. Analysts predict that Global Payments Inc. will post $3.94 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be given a dividend of $0.01 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.04 annualized dividend and a yield of 0.04%. Global Payments’s dividend payout ratio (DPR) is presently 3.07%.
A number of research analysts have commented on the company. Stifel Nicolaus restated a “buy” rating and issued a $103.00 target price on shares of Global Payments in a research note on Friday. Wells Fargo & Company raised Global Payments from a “market perform” rating to an “outperform” rating and set a $110.00 price target for the company in a research report on Friday. Compass Point cut Global Payments from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $95.72 to $64.63 in a research report on Friday. Barclays PLC boosted their price target on Global Payments from $98.00 to $105.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Royal Bank Of Canada reduced their price target on Global Payments from $103.00 to $90.00 and set an “outperform” rating for the company in a research report on Friday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eighteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $93.09.
In other Global Payments news, Director Alan M. Silberstein sold 600 shares of the firm’s stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $88.09, for a total transaction of $52,854.00. Following the completion of the sale, the director now directly owns 49,093 shares in the company, valued at $4,324,602.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ruth Ann Marshall sold 5,402 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $92.26, for a total transaction of $498,388.52. Following the sale, the director now owns 41,476 shares of the company’s stock, valued at $3,826,575.76. The disclosure for this sale can be found here. Insiders have sold 30,702 shares of company stock valued at $2,847,076 over the last 90 days. Company insiders own 0.93% 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 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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