Global Payments Inc. (GPN) Position Boosted by JPMorgan Chase & Co.
JPMorgan Chase & Co. increased its position in shares of Global Payments Inc. (NYSE:GPN) by 3.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,396,554 shares of the business services provider’s stock after purchasing an additional 112,256 shares during the period. JPMorgan Chase & Co. owned approximately 2.23% of Global Payments worth $319,071,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Sun Life Financial INC raised its holdings in shares of Global Payments by 15,728.6% in the 2nd quarter. Sun Life Financial INC now owns 1,108 shares of the business services provider’s stock valued at $100,000 after purchasing an additional 1,101 shares in the last quarter. Thompson Davis & CO. Inc. raised its holdings in shares of Global Payments by 0.8% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 1,197 shares of the business services provider’s stock valued at $108,000 after purchasing an additional 10 shares in the last quarter. Intellectus Partners LLC bought a new stake in shares of Global Payments in the 2nd quarter valued at about $128,000. Commonwealth Bank of Australia raised its holdings in shares of Global Payments by 13.6% in the 2nd quarter. Commonwealth Bank of Australia now owns 1,466 shares of the business services provider’s stock valued at $131,000 after purchasing an additional 176 shares in the last quarter. Finally, Stephens Inc. AR bought a new stake in shares of Global Payments in the 2nd quarter valued at about $143,000. 98.95% of the stock is owned by hedge funds and other institutional investors.
In related news, Director William I. Jacobs sold 600 shares of the stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $98.00, for a total transaction of $58,800.00. Following the sale, the director now directly owns 40,075 shares of the company’s stock, valued at $3,927,350. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert H. B. Baldwin, Jr. sold 26,000 shares of the stock in a transaction on Thursday, October 12th. The stock was sold at an average price of $99.82, for a total transaction of $2,595,320.00. The disclosure for this sale can be found here. Insiders sold a total of 37,800 shares of company stock worth $3,750,676 over the last ninety days. Insiders own 0.93% of the company’s stock.
Several equities research analysts have recently commented on GPN shares. 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. Royal Bank Of Canada reduced their price objective on shares of Global Payments from $103.00 to $90.00 and set an “outperform” rating for the company in a research note on Friday, August 4th. Barclays boosted their price objective on shares of Global Payments from $98.00 to $105.00 and gave the stock an “overweight” rating in a research note on Friday, August 4th. Compass Point lowered shares of Global Payments from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $95.72 to $96.00 in a research note on Friday, August 4th. Finally, Wells Fargo & Company upgraded shares of Global Payments from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $90.00 to $110.00 in a research note on Friday, August 4th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $105.01.
Global Payments Inc. (GPN) traded down $0.34 during mid-day trading on Wednesday, hitting $103.55. 838,200 shares of the stock traded hands, compared to its average volume of 1,109,831. The stock has a market cap of $16,466.46, a P/E ratio of 27.82, a P/E/G ratio of 1.90 and a beta of 1.14. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.14 and a quick ratio of 1.14. Global Payments Inc. has a fifty-two week low of $65.91 and a fifty-two week high of $104.90.
Global Payments (NYSE:GPN) last released its quarterly earnings data on Wednesday, November 8th. The business services provider reported $1.15 EPS for the quarter, beating the consensus estimate of $1.03 by $0.12. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $917.31 million. Global Payments had a net margin of 7.14% and a return on equity of 18.50%. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.89 EPS. equities analysts forecast that Global Payments Inc. will post 3.81 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.04%. The ex-dividend date of this dividend is Thursday, December 14th. Global Payments’s dividend payout ratio (DPR) is currently 2.23%.
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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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