Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in shares of Global Payments Inc (NYSE:GPN) by 0.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 60,112 shares of the business services provider’s stock after purchasing an additional 530 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Global Payments were worth $8,670,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the stock. Integrated Advisors Network LLC purchased a new position in Global Payments in the fourth quarter valued at approximately $372,000. Fulton Bank N.A. boosted its holdings in shares of Global Payments by 13.3% in the 4th quarter. Fulton Bank N.A. now owns 7,522 shares of the business services provider’s stock valued at $1,373,000 after buying an additional 885 shares in the last quarter. First American Bank purchased a new position in shares of Global Payments in the 4th quarter valued at $9,666,000. Dupont Capital Management Corp raised its stake in Global Payments by 123.2% during the 4th quarter. Dupont Capital Management Corp now owns 21,337 shares of the business services provider’s stock worth $3,895,000 after acquiring an additional 11,778 shares in the last quarter. Finally, Raymond James & Associates lifted its position in Global Payments by 8.7% in the fourth quarter. Raymond James & Associates now owns 180,215 shares of the business services provider’s stock valued at $32,900,000 after acquiring an additional 14,401 shares during the last quarter. Hedge funds and other institutional investors own 87.38% of the company’s stock.
GPN has been the topic of a number of research analyst reports. Royal Bank of Canada lifted their target price on Global Payments from $171.00 to $191.00 and gave the stock an “outperform” rating in a research report on Thursday, May 7th. Zacks Investment Research raised Global Payments from a “sell” rating to a “hold” rating and set a $176.00 price target on the stock in a research report on Wednesday, May 13th. Wells Fargo & Co boosted their price objective on Global Payments from $175.00 to $195.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Credit Suisse Group raised their target price on shares of Global Payments from $190.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, May 7th. Finally, Morgan Stanley upped their price target on shares of Global Payments from $147.00 to $161.00 and gave the company an “equal weight” rating in a research report on Thursday, May 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-eight have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $193.10.
In other news, EVP Guido Francesco Sacchi sold 8,754 shares of the business’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $174.31, for a total value of $1,525,909.74. Following the completion of the transaction, the executive vice president now directly owns 36,123 shares of the company’s stock, valued at $6,296,600.13. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO David M. Sheffield sold 586 shares of the company’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $187.47, for a total value of $109,857.42. Following the completion of the sale, the chief accounting officer now owns 22,692 shares in the company, valued at $4,254,069.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,486 shares of company stock valued at $2,335,408. Corporate insiders own 0.88% of the company’s stock.
Shares of GPN traded up $0.34 during trading hours on Friday, reaching $176.75. The company had a trading volume of 893,065 shares, compared to its average volume of 1,732,637. The firm has a 50 day simple moving average of $156.56 and a 200-day simple moving average of $175.17. The company has a market capitalization of $52.77 billion, a price-to-earnings ratio of 82.82, a PEG ratio of 2.04 and a beta of 1.14. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.35. Global Payments Inc has a 12-month low of $105.54 and a 12-month high of $209.62.
Global Payments (NYSE:GPN) last issued its quarterly earnings data on Wednesday, May 6th. The business services provider reported $1.58 EPS for the quarter, beating the Zacks’ consensus estimate of $1.53 by $0.05. The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.74 billion. Global Payments had a net margin of 7.79% and a return on equity of 6.46%. The firm’s revenue was up 115.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.34 EPS. Sell-side analysts forecast that Global Payments Inc will post 5.65 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 12th will be issued a $0.195 dividend. This represents a $0.78 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend is Thursday, June 11th. Global Payments’s dividend payout ratio (DPR) is presently 13.31%.
Global Payments Company 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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