State of Tennessee Treasury Department Purchases 25,752 Shares of Global Payments Inc. (GPN)

State of Tennessee Treasury Department raised its position in Global Payments Inc. (NYSE:GPN) by 42.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,032 shares of the business services provider’s stock after purchasing an additional 25,752 shares during the quarter. State of Tennessee Treasury Department owned approximately 0.06% of Global Payments worth $8,176,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sun Life Financial INC grew its stake in Global Payments by 15,728.6% in the second quarter. Sun Life Financial INC now owns 1,108 shares of the business services provider’s stock valued at $100,000 after purchasing an additional 1,101 shares in the last quarter. Thompson Davis & CO. Inc. grew its stake in Global Payments by 0.8% in the second quarter. Thompson Davis & CO. Inc. now owns 1,197 shares of the business services provider’s stock valued at $108,000 after purchasing an additional 10 shares in the last quarter. Intellectus Partners LLC purchased a new position in Global Payments in the second quarter valued at about $128,000. Commonwealth Bank of Australia grew its stake in Global Payments by 13.6% in the second quarter. Commonwealth Bank of Australia now owns 1,466 shares of the business services provider’s stock valued at $131,000 after purchasing an additional 176 shares in the last quarter. Finally, Stephens Inc. AR purchased a new position in Global Payments in the second quarter valued at about $143,000. Hedge funds and other institutional investors own 98.10% of the company’s stock.

A number of research analysts have commented on GPN shares. Stifel Nicolaus restated a “buy” rating and issued a $103.00 target price (up previously from $102.00) on shares of Global Payments in a research note on Friday, August 4th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $100.00 target price on shares of Global Payments in a research note on Thursday, August 3rd. Cowen and Company restated a “buy” rating and issued a $102.00 target price on shares of Global Payments in a research note on Friday, September 8th. Royal Bank Of Canada restated a “buy” rating and issued a $103.00 target price on shares of Global Payments in a research note on Wednesday, September 6th. Finally, Robert W. Baird restated a “buy” rating and issued a $106.00 target price on shares of Global Payments in a research note on Tuesday, September 5th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and twenty-four have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $104.56.

In other news, Director Alan M. Silberstein sold 600 shares of the stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $93.74, for a total value of $56,244.00. Following the completion of the transaction, the director now directly owns 47,293 shares of the company’s stock, valued at approximately $4,433,245.82. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director William I. Jacobs sold 8,428 shares of the stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $94.05, for a total value of $792,653.40. Following the completion of the transaction, the director now directly owns 40,675 shares of the company’s stock, valued at $3,825,483.75. The disclosure for this sale can be found here. Over the last three months, insiders sold 77,755 shares of company stock valued at $7,535,230. 0.93% of the stock is currently owned by insiders.

Global Payments Inc. (NYSE GPN) opened at $98.85 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.14 and a debt-to-equity ratio of 1.27. The company has a market capitalization of $15,731.19, a P/E ratio of 26.57, a price-to-earnings-growth ratio of 1.81 and a beta of 1.14. Global Payments Inc. has a twelve month low of $64.63 and a twelve month high of $104.83.

Global Payments (NYSE:GPN) last posted its quarterly earnings results on Wednesday, November 8th. The business services provider reported $1.15 EPS for the quarter, beating the consensus estimate of $1.03 by $0.12. Global Payments had a return on equity of 18.50% and a net margin of 7.14%. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $917.31 million. During the same quarter in the prior year, the firm posted $0.89 EPS. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. equities research analysts expect that Global Payments Inc. will post 3.75 earnings per share for the current year.

The business 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. The ex-dividend date is Thursday, December 14th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.04%. Global Payments’s payout ratio is presently 2.23%.

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

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