Global Payments Inc (GPN) Shares Sold by Earnest Partners LLC
Earnest Partners LLC lowered its position in Global Payments Inc (NYSE:GPN) by 3.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,971,879 shares of the business services provider’s stock after selling 72,865 shares during the quarter. Global Payments accounts for approximately 1.9% of Earnest Partners LLC’s holdings, making the stock its 4th biggest holding. Earnest Partners LLC owned 1.24% of Global Payments worth $187,388,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in GPN. Sun Life Financial INC increased its position in shares of Global Payments by 15,728.6% in the second quarter. Sun Life Financial INC now owns 1,108 shares of the business services provider’s stock valued at $100,000 after buying an additional 1,101 shares in the last quarter. Thompson Davis & CO. Inc. increased its position in shares of Global Payments by 0.8% in the second quarter. Thompson Davis & CO. Inc. now owns 1,197 shares of the business services provider’s stock valued at $108,000 after buying an additional 10 shares in the last quarter. Intellectus Partners LLC purchased a new position in shares of Global Payments in the second quarter valued at $128,000. Commonwealth Bank of Australia increased its position in shares of Global Payments by 13.6% in the second quarter. Commonwealth Bank of Australia now owns 1,466 shares of the business services provider’s stock valued at $131,000 after buying an additional 176 shares in the last quarter. Finally, Stephens Inc. AR purchased a new position in shares of Global Payments in the second quarter valued at $143,000. Institutional investors and hedge funds own 98.97% of the company’s stock.
A number of research analysts have recently weighed in on the company. Robert W. Baird raised their price target on Global Payments from $106.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, September 28th. BidaskClub cut Global Payments from a “buy” rating to a “hold” rating in a research report on Saturday, August 26th. KeyCorp initiated coverage on Global Payments in a research report on Friday, September 22nd. They issued an “overweight” rating and a $110.00 price target for the company. William Blair reiterated an “ourperform” rating on shares of Global Payments in a research report on Friday, September 22nd. Finally, Bank of America initiated coverage on Global Payments in a research report on Tuesday, September 12th. They set a “buy” rating and a $110.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and twenty-three have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $105.01.
In other news, Director Robert H. B. Baldwin, Jr. sold 8,200 shares of Global Payments stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $97.61, for a total value of $800,402.00. Following the transaction, the director now directly owns 172,497 shares of the company’s stock, valued at approximately $16,837,432.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alan M. Silberstein sold 600 shares of Global Payments stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $97.70, for a total value of $58,620.00. Following the completion of the transaction, the director now directly owns 46,693 shares in the company, valued at $4,561,906.10. 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. Corporate insiders own 0.93% of the company’s stock.
Shares of Global Payments Inc (GPN) traded up $0.18 during trading hours on Friday, reaching $99.37. The company’s stock had a trading volume of 628,861 shares, compared to its average volume of 1,040,424. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.27. Global Payments Inc has a 12-month low of $68.98 and a 12-month high of $104.90. The firm has a market cap of $15,785.33, a price-to-earnings ratio of 26.66, a price-to-earnings-growth ratio of 1.82 and a beta of 1.11.
Global Payments (NYSE:GPN) last issued its quarterly earnings results on Wednesday, November 8th. The business services provider reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.12. Global Payments had a return on equity of 18.50% and a net margin of 7.14%. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $917.31 million. During the same period last year, the company earned $0.89 EPS. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. equities analysts predict that Global Payments Inc will post 3.81 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.04%. The ex-dividend date is Thursday, December 14th. Global Payments’s dividend payout ratio is currently 2.23%.
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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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