ETRADE Capital Management LLC grew its position in shares of Global Payments Inc (NYSE:GPN) by 221.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,230 shares of the business services provider’s stock after purchasing an additional 3,604 shares during the quarter. ETRADE Capital Management LLC’s holdings in Global Payments were worth $887,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. lifted its position in shares of Global Payments by 3.9% during the 1st quarter. BlackRock Inc. now owns 21,378,887 shares of the business services provider’s stock valued at $3,083,477,000 after buying an additional 799,929 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Global Payments by 49.3% during the 1st quarter. Wellington Management Group LLP now owns 14,221,002 shares of the business services provider’s stock valued at $2,051,094,000 after buying an additional 4,693,451 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Global Payments by 0.6% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 8,809,418 shares of the business services provider’s stock worth $1,270,583,000 after buying an additional 48,226 shares during the period. Lone Pine Capital LLC grew its stake in Global Payments by 52.7% in the 1st quarter. Lone Pine Capital LLC now owns 4,954,572 shares of the business services provider’s stock valued at $714,598,000 after buying an additional 1,709,354 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Global Payments by 2.8% during the first quarter. Geode Capital Management LLC now owns 4,789,504 shares of the business services provider’s stock worth $689,532,000 after acquiring an additional 130,068 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.
In other news, Director William I. Jacobs sold 500 shares of the stock in a transaction that occurred on Wednesday, July 15th. The stock was sold at an average price of $166.25, for a total transaction of $83,125.00. Following the transaction, the director now owns 24,893 shares in the company, valued at approximately $4,138,461.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.88% of the company’s stock.
Shares of NYSE GPN traded down $6.01 during midday trading on Friday, reaching $171.23. 42,484 shares of the stock were exchanged, compared to its average volume of 1,821,534. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.31. The firm has a market cap of $55.32 billion, a price-to-earnings ratio of 31.71, a PEG ratio of 1.52 and a beta of 1.10. The firm has a 50-day simple moving average of $173.39 and a two-hundred day simple moving average of $169.86. Global Payments Inc has a twelve month low of $105.54 and a twelve month high of $209.62.
Global Payments (NYSE:GPN) last released its quarterly earnings data on Monday, August 3rd. The business services provider reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.27. Global Payments had a net margin of 5.68% and a return on equity of 5.61%. The company had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.47 billion. During the same quarter in the previous year, the company earned $1.51 earnings per share. The firm’s revenue for the quarter was up 71.2% on a year-over-year basis. Research analysts expect that Global Payments Inc will post 5.96 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th will be given a $0.195 dividend. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend is Wednesday, September 9th. Global Payments’s dividend payout ratio (DPR) is presently 13.31%.
GPN has been the topic of a number of analyst reports. Goldman Sachs Group started coverage on Global Payments in a research note on Tuesday, July 14th. They set a “buy” rating and a $197.00 price objective on the stock. Royal Bank of Canada reiterated a “buy” rating on shares of Global Payments in a research report on Tuesday, July 21st. Deutsche Bank cut their price objective on shares of Global Payments from $230.00 to $207.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Credit Suisse Group upped their price objective 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, Sanford C. Bernstein initiated coverage on Global Payments in a research report on Tuesday, August 18th. They set an “outperform” rating and a $201.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the company’s stock. Global Payments currently has an average rating of “Buy” and a consensus target price of $200.06.
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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