Envestnet Asset Management Inc. trimmed its position in shares of Global Payments Inc (NYSE:GPN) by 17.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,707 shares of the business services provider’s stock after selling 4,934 shares during the period. Envestnet Asset Management Inc.’s holdings in Global Payments were worth $2,156,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Sun Life Financial INC increased its stake in Global Payments by 15,728.6% during the second quarter. Sun Life Financial INC now owns 1,108 shares of the business services provider’s stock valued at $100,000 after acquiring an additional 1,101 shares during the period. Thompson Davis & CO. Inc. increased its stake in Global Payments by 0.8% during the second quarter. Thompson Davis & CO. Inc. now owns 1,197 shares of the business services provider’s stock valued at $108,000 after acquiring an additional 10 shares during the period. Intellectus Partners LLC bought a new position in Global Payments during the second quarter valued at about $128,000. Commonwealth Bank of Australia increased its stake in Global Payments by 13.6% during the second quarter. Commonwealth Bank of Australia now owns 1,466 shares of the business services provider’s stock valued at $131,000 after acquiring an additional 176 shares during the period. Finally, Stephens Inc. AR bought a new position in Global Payments during the second quarter valued at about $143,000. Hedge funds and other institutional investors own 98.97% of the company’s stock.
Several brokerages recently issued reports on GPN. Keefe, Bruyette & Woods restated a “buy” rating and set a $113.00 price target on shares of Global Payments in a research note on Friday, November 17th. Zacks Investment Research lowered Global Payments from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. SunTrust Banks restated a “buy” rating and set a $120.00 price target on shares of Global Payments in a research note on Friday, November 10th. Nomura boosted their price target on Global Payments from $83.00 to $85.00 and gave the company a “reduce” rating in a research note on Thursday, November 9th. Finally, Morgan Stanley boosted their price target on Global Payments from $106.00 to $110.00 and gave the company an “equal weight” rating in a research note on Thursday, November 9th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-three have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $105.01.
Global Payments (NYSE:GPN) last announced its earnings results on Wednesday, November 8th. The business services provider reported $1.15 EPS for the quarter, topping the consensus estimate of $1.03 by $0.12. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $917.31 million. Global Payments had a return on equity of 18.50% and a net margin of 7.14%. Global Payments’s revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.89 EPS. research analysts anticipate that Global Payments Inc will post 3.81 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.04%. The ex-dividend date is Thursday, December 14th. Global Payments’s payout ratio is currently 2.23%.
In other news, Director Alan M. Silberstein sold 600 shares of the business’s stock in a transaction that occurred on Wednesday, October 18th. The stock was sold at an average price of $97.69, for a total value of $58,614.00. Following the transaction, the director now directly owns 46,093 shares of the company’s stock, valued at approximately $4,502,825.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert H. B. Baldwin, Jr. sold 26,000 shares of the business’s stock in a transaction that occurred on Thursday, October 12th. The stock was sold at an average price of $99.82, for a total value of $2,595,320.00. The disclosure for this sale can be found here. Insiders sold a total of 29,600 shares of company stock worth $2,951,732 over the last three months. 0.93% of the stock is owned by company insiders.
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Global Payments Company Profile
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.
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