AT Bancorp Decreases Stake in Global Payments (GPN)
AT Bancorp decreased its position in Global Payments (NYSE:GPN) by 1.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,092 shares of the business services provider’s stock after selling 447 shares during the quarter. AT Bancorp’s holdings in Global Payments were worth $3,579,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of GPN. AGF Investments Inc. acquired a new position in shares of Global Payments in the first quarter valued at approximately $54,007,000. Massachusetts Financial Services Co. MA grew its position in shares of Global Payments by 5.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 5,620,956 shares of the business services provider’s stock valued at $626,849,000 after purchasing an additional 274,364 shares during the last quarter. Guggenheim Capital LLC grew its position in shares of Global Payments by 46.0% in the fourth quarter. Guggenheim Capital LLC now owns 807,566 shares of the business services provider’s stock valued at $80,951,000 after purchasing an additional 254,315 shares during the last quarter. Element Capital Management LLC acquired a new position in shares of Global Payments in the fourth quarter valued at approximately $20,043,000. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Global Payments by 5.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,552,480 shares of the business services provider’s stock valued at $255,861,000 after buying an additional 137,628 shares during the period. 96.84% of the stock is currently owned by institutional investors.
In other news, EVP David Lawrence Green sold 2,198 shares of the stock in a transaction on Friday, May 11th. The stock was sold at an average price of $116.45, for a total value of $255,957.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William I. Jacobs sold 600 shares of the stock in a transaction on Tuesday, March 13th. The shares were sold at an average price of $118.27, for a total value of $70,962.00. The disclosure for this sale can be found here. Insiders have sold 22,648 shares of company stock valued at $2,634,634 over the last 90 days. Corporate insiders own 0.98% of the company’s stock.
Global Payments opened at $113.84 on Friday, according to Marketbeat Ratings. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.06 and a quick ratio of 1.06. Global Payments has a fifty-two week low of $114.80 and a fifty-two week high of $115.56. The firm has a market cap of $18.27 billion, a price-to-earnings ratio of 28.39, a price-to-earnings-growth ratio of 1.37 and a beta of 1.13.
Global Payments (NYSE:GPN) last released its earnings results on Thursday, May 3rd. The business services provider reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.03. Global Payments had a return on equity of 17.66% and a net margin of 13.27%. The firm had revenue of $924.30 million during the quarter, compared to analysts’ expectations of $914.06 million. During the same period in the prior year, the company earned $0.85 earnings per share. The company’s quarterly revenue was up 17.3% on a year-over-year basis. analysts predict that Global Payments will post 4.87 EPS for the current fiscal year.
Global Payments declared that its Board of Directors has approved a share buyback plan on Thursday, February 15th that permits the company to repurchase $600.00 million in shares. This repurchase authorization permits the business services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 15th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.04%. The ex-dividend date of this dividend is Thursday, June 14th. Global Payments’s payout ratio is presently 1.00%.
About Global Payments
Global Payments Inc provides payment technology and software solutions for credit cards, debit cards, electronic payments, and check-related services. It offers authorization services, settlement and funding services, customer support and help-desk functions, chargeback resolution, terminal rental, sales and deployment, payment security services, consolidated billing and statements, online reporting, industry compliance, and payment card industry security services.
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