Bp Plc Invests $1.63 Million in Global Payments Inc. (GPN)
Bp Plc acquired a new stake in Global Payments Inc. (NYSE:GPN) during the second quarter, Holdings Channel reports. The firm acquired 18,000 shares of the business services provider’s stock, valued at approximately $1,626,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Point72 Asia Hong Kong Ltd purchased a new position in Global Payments during the first quarter valued at $200,000. Raymond James Trust N.A. raised its position in shares of 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 period. IFP Advisors Inc raised its position in shares of Global Payments by 9.3% in the first quarter. IFP Advisors Inc now owns 6,420 shares of the business services provider’s stock worth $518,000 after buying an additional 545 shares during the period. Contravisory Investment Management Inc. bought a new position in shares of Global Payments during the second quarter worth approximately $246,000. Finally, Commerzbank Aktiengesellschaft FI bought a new position in shares of Global Payments during the first quarter worth approximately $233,000. Institutional investors own 98.70% of the company’s stock.
Shares of Global Payments Inc. (NYSE GPN) opened at 93.31 on Friday. Global Payments Inc. has a one year low of $64.63 and a one year high of $97.99. The company has a market cap of $14.23 billion, a P/E ratio of 72.39 and a beta of 1.09. The stock’s 50 day moving average is $92.67 and its 200-day moving average is $85.23.
Global Payments (NYSE:GPN) last posted its earnings results on Thursday, August 3rd. The business services provider reported $0.94 earnings per share for the quarter, topping the 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 company’s revenue was up 18.4% on a year-over-year basis. During the same quarter last year, the company earned $0.76 earnings per share. Equities research analysts forecast that Global Payments Inc. will post $3.95 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid a $0.01 dividend. 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 3.07%.
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GPN has been the topic of a number of research reports. Keefe, Bruyette & Woods reiterated a “buy” rating on shares of Global Payments in a research note on Friday, May 5th. Barclays PLC reiterated a “buy” rating and issued a $96.00 price target on shares of Global Payments in a research note on Friday, May 5th. Zacks Investment Research lowered shares of Global Payments from a “hold” rating to a “sell” rating in a research note on Wednesday, May 3rd. Royal Bank Of Canada reiterated a “buy” rating and issued a $90.00 price target on shares of Global Payments in a research note on Friday, July 7th. Finally, Credit Suisse Group upped their price target on shares of Global Payments from $86.00 to $91.00 and gave the company an “outperform” rating in a research note on Friday, May 5th. One analyst has rated the stock with a sell rating, three have given a hold rating and eighteen have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $94.58.
In related news, Director Alan M. Silberstein sold 600 shares of the business’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 transaction, the director now owns 49,093 shares of the company’s stock, valued at $4,324,602.37. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Robert H. B. Baldwin, Jr. sold 10,000 shares of the business’s 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 transaction, the director now directly owns 183,177 shares of the company’s stock, valued at approximately $17,401,815. The disclosure for this sale can be found here. Insiders sold 106,496 shares of company stock valued at $10,010,366 in the last quarter. 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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