Wetherby Asset Management Inc. raised its stake in Global Payments Inc. (NYSE:GPN) by 0.2% during the second quarter, Holdings Channel reports. The institutional investor owned 9,962 shares of the business services provider’s stock after buying an additional 15 shares during the period. Wetherby Asset Management Inc.’s holdings in Global Payments were worth $900,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of GPN. Quadrature Capital Ltd acquired a new stake in Global Payments during the fourth quarter valued at approximately $380,000. Macquarie Group Ltd. acquired a new stake in Global Payments during the fourth quarter valued at approximately $473,000. Chevy Chase Trust Holdings Inc. increased 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 valued at $10,613,000 after buying an additional 2,779 shares in the last quarter. Raymond James Trust N.A. increased 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 valued at $342,000 after buying an additional 474 shares in the last quarter. Finally, Gulf International Bank UK Ltd increased 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 valued at $3,838,000 after buying an additional 380 shares in the last quarter. Institutional investors and hedge funds own 98.70% of the company’s stock.

Shares of Global Payments Inc. (NYSE:GPN) opened at 93.64 on Friday. The stock has a 50 day moving average of $92.59 and a 200 day moving average of $85.12. Global Payments Inc. has a 1-year low of $64.63 and a 1-year high of $97.99. The company has a market cap of $14.28 billion, a price-to-earnings 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 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.07. Global Payments had a return on equity of 18.32% and a net margin of 6.65%. The firm had revenue of $847.90 million during the quarter, compared to the consensus estimate of $837.76 million. During the same period last year, the company earned $0.76 earnings per share. The company’s revenue was up 18.4% on a year-over-year basis. Analysts predict that Global Payments Inc. will post $3.95 EPS for the current year.

The business 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 of this dividend is Thursday, September 14th. This represents a $0.04 annualized dividend and a dividend yield of 0.04%. Global Payments’s payout ratio is presently 3.07%.

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GPN has been the topic of several recent research reports. Zacks Investment Research downgraded shares of Global Payments from a “hold” rating to a “sell” rating in a research report on Wednesday, May 3rd. Royal Bank Of Canada reiterated a “buy” rating and set a $90.00 target price on shares of Global Payments in a research report on Friday, May 5th. Keefe, Bruyette & Woods reiterated a “buy” rating on shares of Global Payments in a research report on Friday, May 5th. Credit Suisse Group lifted their target price on shares of Global Payments from $86.00 to $91.00 and gave the stock an “outperform” rating in a research report on Friday, May 5th. Finally, BMO Capital Markets lifted their target price on shares of Global Payments from $91.00 to $93.00 and gave the stock an “outperform” rating in a research report on Friday, May 5th. One research 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’s stock. Global Payments currently has a consensus rating of “Buy” and a consensus target price of $94.58.

In other news, Director Robert H. B. Baldwin, Jr. sold 4,200 shares of the firm’s stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $89.87, for a total transaction of $377,454.00. Following the completion of the transaction, the director now directly owns 195,477 shares in the company, valued at $17,567,517.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William I. Jacobs sold 600 shares of the firm’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $87.72, for a total value of $52,632.00. Following the transaction, the director now owns 42,475 shares of the company’s stock, valued at $3,725,907. 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. 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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Institutional Ownership by Quarter for Global Payments (NYSE:GPN)

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