Global Payments Inc (GPN) Shares Sold by Cornerstone Capital Management Holdings LLC.
Cornerstone Capital Management Holdings LLC. lowered its position in Global Payments Inc (NYSE:GPN) by 6.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,130 shares of the business services provider’s stock after selling 1,826 shares during the quarter. Cornerstone Capital Management Holdings LLC.’s holdings in Global Payments were worth $2,482,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. 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 98.90% of the company’s stock.
A number of analysts recently commented on the company. Robert W. Baird lifted their price objective on Global Payments from $106.00 to $110.00 and gave the stock 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 assumed coverage on Global Payments in a research report on Friday, September 22nd. They set an “overweight” rating and a $110.00 price objective 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 assumed 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-two have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $105.83.
In other Global Payments news, Director Robert H. B. Baldwin, Jr. sold 26,000 shares of the firm’s stock in a transaction dated Thursday, October 12th. The stock was sold at an average price of $99.82, for a total value of $2,595,320.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Alan M. Silberstein sold 600 shares of Global Payments stock in a transaction dated Wednesday, October 18th. The shares were sold at an average price of $97.69, for a total value of $58,614.00. Following the completion of the transaction, the director now directly owns 46,093 shares in the company, valued at $4,502,825.17. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,000 shares of company stock worth $2,893,112. 0.93% of the stock is owned by corporate insiders.
Shares of Global Payments Inc (NYSE GPN) opened at $102.72 on Wednesday. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.27. Global Payments Inc has a 52 week low of $68.98 and a 52 week high of $104.90. The stock has a market capitalization of $16,130.67, a PE ratio of 27.25, a price-to-earnings-growth ratio of 1.86 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 firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be paid a $0.01 dividend. 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, December 14th. Global Payments’s payout ratio is 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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