Panagora Asset Management Inc. Has $1.44 Million Stock Holdings in Global Payments Inc (NYSE:GPN)
Panagora Asset Management Inc. decreased its position in Global Payments Inc (NYSE:GPN) by 15.2% during the 2nd quarter, Holdings Channel reports. The firm owned 9,018 shares of the business services provider’s stock after selling 1,619 shares during the quarter. Panagora Asset Management Inc.’s holdings in Global Payments were worth $1,444,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Skandinaviska Enskilda Banken AB publ lifted its holdings in Global Payments by 2.1% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 20,841 shares of the business services provider’s stock valued at $3,337,000 after purchasing an additional 435 shares during the last quarter. Synovus Financial Corp grew its stake in Global Payments by 34.2% during the second quarter. Synovus Financial Corp now owns 1,492 shares of the business services provider’s stock worth $239,000 after buying an additional 380 shares during the last quarter. Cim Investment Mangement Inc. grew its stake in Global Payments by 4.9% during the second quarter. Cim Investment Mangement Inc. now owns 9,957 shares of the business services provider’s stock worth $1,594,000 after buying an additional 464 shares during the last quarter. Schroder Investment Management Group acquired a new stake in shares of Global Payments during the second quarter worth approximately $2,218,000. Finally, Clearstead Advisors LLC acquired a new stake in shares of Global Payments during the second quarter worth approximately $220,000. 97.07% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director William I. Jacobs sold 10,980 shares of Global Payments stock in a transaction on Monday, September 9th. The stock was sold at an average price of $175.27, for a total transaction of $1,924,464.60. Following the completion of the sale, the director now directly owns 40,568 shares of the company’s stock, valued at $7,110,353.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director William I. Jacobs sold 600 shares of Global Payments stock in a transaction on Monday, July 15th. The stock was sold at an average price of $165.05, for a total value of $99,030.00. Following the sale, the director now directly owns 30,188 shares of the company’s stock, valued at $4,982,529.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,410 shares of company stock valued at $5,667,534. 0.88% of the stock is currently owned by insiders.
Global Payments (NYSE:GPN) last announced its quarterly earnings data on Tuesday, July 30th. The business services provider reported $1.51 EPS for the quarter, topping the Zacks’ consensus estimate of $1.46 by $0.05. The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.11 billion. Global Payments had a return on equity of 20.36% and a net margin of 13.62%. The company’s revenue was up 13.4% on a year-over-year basis. During the same period last year, the company earned $1.29 earnings per share. As a group, equities research analysts expect that Global Payments Inc will post 5.82 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. The ex-dividend date of this dividend is Thursday, September 12th. Global Payments’s dividend payout ratio is 0.77%.
GPN has been the topic of several recent analyst reports. Wells Fargo & Co boosted their target price on Global Payments from $180.00 to $185.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Guggenheim raised Global Payments from a “neutral” rating to a “buy” rating in a report on Thursday, May 30th. Deutsche Bank lifted their price objective on Global Payments from $162.00 to $182.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Barclays increased their target price on Global Payments from $180.00 to $195.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Finally, Nomura raised their target price on Global Payments from $105.00 to $120.00 and gave the company a “reduce” rating in a research note on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nineteen have assigned a buy rating to the stock. Global Payments currently has a consensus rating of “Buy” and an average price target of $167.70.
Global Payments Profile
Global Payments Inc provides payment technology and software solutions for card, electronic, check, and digital-based payments. The company operates in three segments: North America, Europe, and Asia-Pacific. 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, and online reporting services.
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