Engineers Gate Manager LP Acquires 30,458 Shares of Global Payments Inc. (GPN)

Engineers Gate Manager LP boosted its holdings in shares of Global Payments Inc. (NYSE:GPN) by 712.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 34,735 shares of the business services provider’s stock after buying an additional 30,458 shares during the quarter. Engineers Gate Manager LP’s holdings in Global Payments were worth $3,301,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. North Star Asset Management Inc. raised its position in Global Payments by 0.9% during the 3rd quarter. North Star Asset Management Inc. now owns 176,000 shares of the business services provider’s stock worth $14,200,000 after buying an additional 1,637 shares during the last quarter. Westpac Banking Corp increased its holdings in shares of Global Payments by 29.1% during the 3rd quarter. Westpac Banking Corp now owns 17,628 shares of the business services provider’s stock valued at $1,675,000 after purchasing an additional 3,973 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Global Payments by 162.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,284,298 shares of the business services provider’s stock valued at $296,636,000 after purchasing an additional 2,030,880 shares in the last quarter. Aviva PLC increased its holdings in shares of Global Payments by 0.6% during the 2nd quarter. Aviva PLC now owns 93,792 shares of the business services provider’s stock valued at $8,472,000 after purchasing an additional 560 shares in the last quarter. Finally, Nationwide Fund Advisors increased its holdings in shares of Global Payments by 3.5% during the 2nd quarter. Nationwide Fund Advisors now owns 259,572 shares of the business services provider’s stock valued at $23,445,000 after purchasing an additional 8,821 shares in the last quarter. 98.97% of the stock is owned by institutional investors.

Shares of Global Payments Inc. (NYSE GPN) traded up $0.67 on Wednesday, reaching $96.63. 1,328,500 shares of the company’s stock traded hands, compared to its average volume of 1,120,750. Global Payments Inc. has a 52 week low of $68.98 and a 52 week high of $104.90. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.14 and a current ratio of 1.14. The firm has a market cap of $15,271.30, a PE ratio of 25.80, a PEG ratio of 1.76 and a beta of 1.11.

Global Payments (NYSE:GPN) last announced its earnings results on Wednesday, November 8th. The business services provider reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.12. Global Payments had a net margin of 7.14% and a return on equity of 18.50%. The company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $917.31 million. During the same quarter in the previous year, the company posted $0.89 EPS. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. sell-side analysts predict that Global Payments Inc. will post 3.81 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be paid a dividend of $0.01 per share. The ex-dividend date is Thursday, December 14th. This represents a $0.04 annualized dividend and a yield of 0.04%. Global Payments’s dividend payout ratio (DPR) is presently 2.23%.

Several equities analysts have recently weighed in on the stock. Morgan Stanley lifted their target price on shares of Global Payments from $98.00 to $106.00 and gave the company an “equal weight” rating in a report on Thursday, November 2nd. Stifel Nicolaus reaffirmed a “buy” rating and set a $121.00 target price (up from $103.00) on shares of Global Payments in a report on Thursday, November 9th. Credit Suisse Group reaffirmed an “outperform” rating and set a $108.00 target price (up from $100.00) on shares of Global Payments in a report on Thursday, November 9th. They noted that the move was a valuation call. BMO Capital Markets lifted their target price on shares of Global Payments from $103.00 to $115.00 and gave the company a “positive” rating in a report on Thursday, November 9th. Finally, Piper Jaffray Companies lifted their target price on shares of Global Payments to $105.00 and gave the company a “neutral” rating in a report on Wednesday, November 8th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and twenty-three have assigned a buy rating to the company’s stock. Global Payments currently has a consensus rating of “Buy” and an average price target of $105.01.

In other news, Director William I. Jacobs sold 600 shares of the business’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $98.00, for a total transaction of $58,800.00. Following the transaction, the director now owns 40,075 shares of the company’s stock, valued at approximately $3,927,350. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Robert H. B. Baldwin, Jr. sold 8,200 shares of the business’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $97.61, for a total transaction of $800,402.00. Following the transaction, the director now directly owns 172,497 shares in the company, valued at approximately $16,837,432.17. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 37,800 shares of company stock worth $3,750,676. 0.93% of the stock is currently owned by corporate insiders.

WARNING: This news story was published by StockNewsTimes and is the sole property of of StockNewsTimes. If you are accessing this news story on another site, it was stolen and reposted in violation of U.S. & international copyright laws. The correct version of this news story can be read at https://stocknewstimes.com/2017/12/06/engineers-gate-manager-lp-acquires-30458-shares-of-global-payments-inc-gpn.html.

About Global Payments

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.

Institutional Ownership by Quarter for Global Payments (NYSE:GPN)

Receive News & Ratings for Global Payments Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Global Payments Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply