Northwestern Mutual Investment Management Company LLC Sells 24,905 Shares of Global Payments Inc. (GPN)
Northwestern Mutual Investment Management Company LLC lowered its holdings in shares of Global Payments Inc. (NYSE:GPN) by 80.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,874 shares of the business services provider’s stock after selling 24,905 shares during the quarter. Northwestern Mutual Investment Management Company LLC’s holdings in Global Payments were worth $419,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in GPN. Morgan Dempsey Capital Management LLC raised its holdings in Global Payments by 86.6% in the 1st quarter. Morgan Dempsey Capital Management LLC now owns 2,004 shares of the business services provider’s stock worth $162,000 after acquiring an additional 930 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd. raised its holdings in Global Payments by 84.8% in the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,033 shares of the business services provider’s stock worth $164,000 after acquiring an additional 933 shares during the period. Lakeview Capital Partners LLC bought a new position in Global Payments in the 2nd quarter worth $200,000. Usca Ria LLC bought a new position in Global Payments in the 2nd quarter worth $203,000. Finally, Crawford Investment Counsel Inc. bought a new position in Global Payments in the 2nd quarter worth $205,000. Institutional investors and hedge funds own 97.87% of the company’s stock.
Several research analysts recently commented on GPN shares. Barclays PLC lifted their target price on shares of Global Payments from $98.00 to $105.00 and gave the stock an “overweight” rating in a report on Friday, August 4th. Credit Suisse Group reiterated an “outperform” rating and issued a $97.00 target price (up previously from $91.00) on shares of Global Payments in a report on Thursday, July 13th. Robert W. Baird reiterated a “buy” rating and issued a $106.00 target price on shares of Global Payments in a report on Tuesday, September 5th. William Blair reiterated an “outperform” rating on shares of Global Payments in a report on Monday, July 24th. Finally, J P Morgan Chase & Co lifted their target price on shares of Global Payments from $106.00 to $107.00 and gave the stock an “overweight” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $97.75.
Shares of Global Payments Inc. (NYSE GPN) opened at 97.56 on Friday. The firm has a market capitalization of $14.88 billion, a price-to-earnings ratio of 75.69 and a beta of 1.11. The stock’s 50 day moving average is $95.24 and its 200 day moving average is $88.12. Global Payments Inc. has a 12 month low of $64.63 and a 12 month high of $98.14.
Global Payments (NYSE:GPN) last released 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 net margin of 6.65% and a return on equity of 18.32%. The business had revenue of $847.90 million for the quarter, compared to analyst estimates of $837.76 million. During the same period last year, the firm earned $0.76 earnings per share. Global Payments’s revenue for the quarter was up 18.4% compared to the same quarter last year. Equities research analysts forecast that Global Payments Inc. will post $3.95 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.04%. The ex-dividend date of this dividend is Thursday, September 14th. Global Payments’s dividend payout ratio is 2.45%.
In related news, Director Robert H. B. Baldwin, Jr. sold 8,200 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $97.61, for a total transaction of $800,402.00. Following the transaction, the director now directly owns 172,497 shares of the company’s stock, valued at $16,837,432.17. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director William I. Jacobs sold 600 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $98.00, for a total transaction of $58,800.00. Following the transaction, the director now directly owns 40,075 shares in the company, valued at $3,927,350. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 141,749 shares of company stock worth $13,416,603. 0.93% of the stock is owned by insiders.
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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