Shell Asset Management Co. Has $926,000 Position in Global Payments Inc. (GPN)
Shell Asset Management Co. continued to hold its stake in Global Payments Inc. (NYSE:GPN) during the second quarter, Holdings Channel reports. The fund owned 10,251 shares of the business services provider’s stock at the end of the second quarter. Shell Asset Management Co.’s holdings in Global Payments were worth $926,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Quadrature Capital Ltd purchased a new stake in Global Payments during the fourth quarter worth about $380,000. Macquarie Group Ltd. purchased a new stake in Global Payments during the fourth quarter worth about $473,000. Chevy Chase Trust Holdings Inc. boosted its stake in Global Payments by 2.2% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 131,538 shares of the business services provider’s stock worth $10,613,000 after buying an additional 2,779 shares during the last quarter. Raymond James Trust N.A. boosted its stake in Global Payments by 12.6% in the first quarter. Raymond James Trust N.A. now owns 4,240 shares of the business services provider’s stock worth $342,000 after buying an additional 474 shares during the last quarter. Finally, Gulf International Bank UK Ltd boosted its stake in Global Payments by 0.8% in the first quarter. Gulf International Bank UK Ltd now owns 47,571 shares of the business services provider’s stock worth $3,838,000 after buying an additional 380 shares during the last quarter. 98.70% of the stock is owned by hedge funds and other institutional investors.
Global Payments Inc. (NYSE GPN) opened at 96.02 on Thursday. The company has a market capitalization of $14.64 billion, a price-to-earnings ratio of 75.55 and a beta of 1.09. Global Payments Inc. has a 52 week low of $64.63 and a 52 week high of $97.17. The company’s 50-day moving average price is $92.47 and its 200 day moving average price is $85.06.
Global Payments (NYSE:GPN) last announced its earnings results on Thursday, August 3rd. The business services provider reported $0.94 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.07. Global Payments had a net margin of 6.65% and a return on equity of 18.32%. The company had revenue of $847.90 million for the quarter, compared to analysts’ expectations of $837.76 million. During the same period last year, the firm earned $0.76 earnings per share. The business’s revenue for the quarter was up 18.4% on a year-over-year basis. On average, analysts predict that Global Payments Inc. will post $3.94 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be paid a $0.01 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.04 dividend on an annualized basis and a yield of 0.04%. Global Payments’s dividend payout ratio (DPR) is 3.07%.
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GPN has been the subject of a number of research reports. Atlantic Securities initiated coverage on Global Payments in a research report on Wednesday, April 12th. They set an “overweight” rating and a $91.00 price objective for the company. Zacks Investment Research cut Global Payments from a “hold” rating to a “sell” rating in a research report on Wednesday, May 3rd. Royal Bank Of Canada reissued a “buy” rating and set a $90.00 price objective on shares of Global Payments in a research report on Friday, May 5th. Keefe, Bruyette & Woods reissued a “buy” rating on shares of Global Payments in a research report on Friday, May 5th. Finally, Credit Suisse Group lifted their price objective on Global Payments from $86.00 to $91.00 and gave the company an “outperform” rating in a research report on Friday, May 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eighteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $94.58.
In related news, Director Alan M. Silberstein sold 600 shares of Global Payments stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $88.09, for a total value of $52,854.00. Following the transaction, the director now directly owns 49,093 shares of the company’s stock, valued at $4,324,602.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert H. B. Baldwin, Jr. sold 10,000 shares of Global Payments stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $95.00, for a total transaction of $950,000.00. Following the completion of the transaction, the director now directly owns 183,177 shares in the company, valued at $17,401,815. The disclosure for this sale can be found here. Insiders sold 30,702 shares of company stock worth $2,847,076 over the last three months. 0.93% of the stock is currently owned by 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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