Thrivent Financial For Lutherans grew its holdings in shares of Global Payments Inc (NYSE:GPN) by 4.8% in the 4th quarter, Holdings Channel reports. The fund owned 136,305 shares of the business services provider’s stock after purchasing an additional 6,255 shares during the period. Thrivent Financial For Lutherans’ holdings in Global Payments were worth $13,664,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the company. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Global Payments during the fourth quarter worth $120,000. Tower Research Capital LLC TRC grew its holdings in Global Payments by 2,412.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,658 shares of the business services provider’s stock worth $166,000 after purchasing an additional 1,592 shares during the period. Klingenstein Fields & Co. LLC acquired a new stake in Global Payments in the fourth quarter worth $204,000. Quantbot Technologies LP acquired a new stake in Global Payments in the third quarter worth $198,000. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in Global Payments in the third quarter worth $209,000. 96.68% of the stock is owned by hedge funds and other institutional investors.
Global Payments Inc (NYSE GPN) opened at $117.83 on Tuesday. The stock has a market cap of $18,662.12, a PE ratio of 39.54, a PEG ratio of 1.53 and a beta of 1.09. Global Payments Inc has a twelve month low of $76.47 and a twelve month high of $118.09. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.15.
Global Payments declared that its board has authorized a share repurchase plan on Thursday, February 15th that permits the company to buyback $600.00 million in outstanding shares. This buyback authorization permits the business services provider to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Friday, March 16th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date is Thursday, March 15th. Global Payments’s payout ratio is currently 1.34%.
In related news, Director Alan M. Silberstein sold 600 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $114.34, for a total transaction of $68,604.00. Following the transaction, the director now directly owns 43,693 shares of the company’s stock, valued at $4,995,857.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 3,600 shares of company stock worth $378,918 over the last three months. 0.93% of the stock is owned by insiders.
A number of research firms have commented on GPN. Piper Jaffray Companies upgraded shares of Global Payments from a “neutral” rating to an “overweight” rating in a report on Friday, March 2nd. Cowen restated a “buy” rating and issued a $127.00 price target on shares of Global Payments in a report on Thursday, March 1st. Deutsche Bank raised their price target on shares of Global Payments and gave the stock a “buy” rating in a report on Friday, February 16th. Nomura raised their price target on shares of Global Payments from $85.00 to $92.00 and gave the stock a “reduce” rating in a report on Tuesday, February 13th. Finally, KeyCorp restated an “overweight” rating and issued a $125.00 price target (up from $120.00) on shares of Global Payments in a report on Friday, March 2nd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and twenty-three have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $109.40.
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.
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