Principal Financial Group Inc. grew its holdings in shares of Global Payments Inc. (NYSE:GPN) by 5.3% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 247,850 shares of the business services provider’s stock after purchasing an additional 12,509 shares during the quarter. Principal Financial Group Inc. owned approximately 0.16% of Global Payments worth $22,386,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Point72 Asia Hong Kong Ltd purchased a new stake in shares of Global Payments during the 1st quarter valued at about $200,000. Aviva PLC increased its position 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 during the last quarter. Contravisory Investment Management Inc. purchased a new stake in shares of Global Payments during the 2nd quarter valued at about $246,000. Commerzbank Aktiengesellschaft FI purchased a new stake in shares of Global Payments during the 1st quarter valued at about $233,000. Finally, OLD Mutual Customised Solutions Proprietary Ltd. increased its position in shares of Global Payments by 84.8% during the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,033 shares of the business services provider’s stock valued at $164,000 after purchasing an additional 933 shares during the last quarter. 97.87% of the stock is owned by hedge funds and other institutional investors.
In other news, insider David E. Mangum sold 75,794 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $94.51, for a total value of $7,163,290.94. Following the completion of the sale, the insider now directly owns 112,930 shares in the company, valued at $10,673,014.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Guido Francesco Sacchi sold 25,927 shares of the business’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $95.22, for a total value of $2,468,768.94. Following the completion of the sale, the executive vice president now owns 34,622 shares of the company’s stock, valued at $3,296,706.84. The disclosure for this sale can be found here. Insiders sold 132,949 shares of company stock valued at $12,557,401 over the last 90 days. Company insiders own 0.93% of the company’s stock.
Global Payments Inc. (NYSE:GPN) opened at 98.08 on Wednesday. Global Payments Inc. has a 52-week low of $64.63 and a 52-week high of $98.14. The company has a market capitalization of $14.96 billion, a P/E ratio of 76.09 and a beta of 1.11. The stock’s 50 day moving average price is $94.95 and its 200-day moving average price is $87.73.
Global Payments (NYSE:GPN) last posted its quarterly earnings data on Thursday, August 3rd. The business services provider reported $0.94 EPS for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.07. The business had revenue of $847.90 million during the quarter, compared to analysts’ expectations of $837.76 million. Global Payments had a return on equity of 18.32% and a net margin of 6.65%. The business’s revenue was up 18.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.76 earnings per share. Analysts predict that Global Payments Inc. will post $3.95 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.04%. The ex-dividend date of this dividend is Thursday, September 14th. Global Payments’s dividend payout ratio (DPR) is presently 3.07%.
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Several research firms have recently commented on GPN. BidaskClub lowered shares of Global Payments from a “buy” rating to a “hold” rating in a research report on Saturday, August 26th. Cowen and Company reaffirmed a “buy” rating and set a $102.00 price target on shares of Global Payments in a research report on Friday, September 8th. Stifel Nicolaus began coverage on shares of Global Payments in a research report on Thursday, June 1st. They set a “buy” rating and a $102.00 price target for the company. Bank of America Corporation began coverage on shares of Global Payments in a research report on Tuesday. They set a “buy” rating and a $110.00 price target for the company. Finally, Wells Fargo & Company raised shares of Global Payments from a “market perform” rating to an “outperform” rating and upped their price target for the company from $90.00 to $110.00 in a research report on Friday, August 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-one have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $97.34.
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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