State of New Jersey Common Pension Fund D Holds Stake in Global Payments Inc. (GPN)
State of New Jersey Common Pension Fund D maintained its position in Global Payments Inc. (NYSE:GPN) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 91,400 shares of the business services provider’s stock at the end of the second quarter. State of New Jersey Common Pension Fund D’s holdings in Global Payments were worth $8,255,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Financial Architects Inc raised its position in Global Payments by 14.5% in the first quarter. Financial Architects Inc now owns 1,840 shares of the business services provider’s stock valued at $149,000 after buying an additional 233 shares during the last quarter. Morgan Dempsey Capital Management LLC raised its position in Global Payments by 86.6% in the first quarter. Morgan Dempsey Capital Management LLC now owns 2,004 shares of the business services provider’s stock valued at $162,000 after buying an additional 930 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. raised its position in Global Payments by 84.8% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,033 shares of the business services provider’s stock valued at $164,000 after buying an additional 933 shares during the last quarter. IBM Retirement Fund acquired a new position in Global Payments during the second quarter valued at approximately $206,000. Finally, Point72 Asia Hong Kong Ltd acquired a new position in Global Payments during the first quarter valued at approximately $200,000. Hedge funds and other institutional investors own 98.70% of the company’s stock.
Shares of Global Payments Inc. (NYSE GPN) opened at 93.64 on Friday. The stock’s 50 day moving average is $92.59 and its 200-day moving average is $85.12. Global Payments Inc. has a 52-week low of $64.63 and a 52-week high of $97.99. The firm has a market cap of $14.28 billion, a P/E ratio of 72.65 and a beta of 1.09.
Global Payments (NYSE:GPN) last issued its quarterly earnings results on Thursday, August 3rd. The business services provider reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.07. Global Payments had a return on equity of 18.32% and a net margin of 6.65%. The company had revenue of $847.90 million during the quarter, compared to analyst estimates of $837.76 million. During the same period in the previous year, the company earned $0.76 earnings per share. The company’s quarterly revenue was up 18.4% compared to the same quarter last year. Equities analysts anticipate that Global Payments Inc. will post $3.94 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be issued a dividend of $0.01 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.04%. Global Payments’s dividend payout ratio (DPR) is presently 3.07%.
Several research analysts recently commented on the stock. Stifel Nicolaus restated a “buy” rating and issued a $103.00 price target (up previously from $102.00) on shares of Global Payments in a report on Friday, August 4th. Compass Point lowered shares of Global Payments from a “buy” rating to a “neutral” rating and raised their price target for the company from $95.72 to $96.00 in a report on Friday, August 4th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $100.00 price target on shares of Global Payments in a report on Thursday, August 3rd. Barclays PLC raised their price target on shares of Global Payments from $98.00 to $105.00 and gave the company an “overweight” rating in a report on Friday, August 4th. Finally, Wells Fargo & Company upgraded shares of Global Payments from a “market perform” rating to an “outperform” rating and raised their price target for the company from $90.00 to $110.00 in a report on Friday, August 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eighteen have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $94.58.
In other news, Director William I. Jacobs sold 600 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $87.72, for a total transaction of $52,632.00. Following the completion of the transaction, the director now directly owns 42,475 shares in the company, valued at $3,725,907. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robert H. B. Baldwin, Jr. sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $95.00, for a total value of $950,000.00. Following the transaction, the director now owns 183,177 shares of the company’s stock, valued at $17,401,815. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,702 shares of company stock valued at $2,847,076. Corporate insiders own 0.93% of the company’s stock.
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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