Teachers Retirement System of The State of Kentucky trimmed its holdings in shares of Global Payments Inc (NYSE:GPN) by 5.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 154,911 shares of the business services provider’s stock after selling 9,606 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Global Payments were worth $15,528,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also made changes to their positions in GPN. Nationwide Fund Advisors grew its stake in Global Payments by 0.7% during the 3rd quarter. Nationwide Fund Advisors now owns 261,387 shares of the business services provider’s stock worth $24,840,000 after buying an additional 1,815 shares during the last quarter. Prudential Financial Inc. lifted its position in Global Payments by 3.1% during the 3rd quarter. Prudential Financial Inc. now owns 216,612 shares of the business services provider’s stock worth $20,584,000 after acquiring an additional 6,440 shares during the period. Swiss National Bank lifted its position in Global Payments by 0.9% during the 3rd quarter. Swiss National Bank now owns 561,569 shares of the business services provider’s stock worth $53,366,000 after acquiring an additional 5,200 shares during the period. Candriam Luxembourg S.C.A. lifted its position in Global Payments by 13.0% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 10,899 shares of the business services provider’s stock worth $1,036,000 after acquiring an additional 1,254 shares during the period. Finally, BNP Paribas Arbitrage SA lifted its position in Global Payments by 9.0% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 131,509 shares of the business services provider’s stock worth $12,497,000 after acquiring an additional 10,830 shares during the period. Hedge funds and other institutional investors own 96.68% of the company’s stock.
GPN has been the subject of a number of research reports. Stephens raised Global Payments from an “equal weight” rating to an “overweight” rating and set a $122.00 price target for the company in a research report on Tuesday, January 9th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $122.00 price target on shares of Global Payments in a research report on Friday, December 22nd. Robert W. Baird reaffirmed a “buy” rating and set a $124.00 price target on shares of Global Payments in a research report on Tuesday, January 23rd. BMO Capital Markets reaffirmed a “buy” rating and set a $135.00 price target on shares of Global Payments in a research report on Friday, February 16th. Finally, SunTrust Banks lifted their price target on Global Payments to $145.00 and gave the stock a “buy” rating in a research report on Friday, March 2nd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and twenty-three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $109.40.
Global Payments Inc (NYSE GPN) opened at $117.25 on Wednesday. The firm has a market capitalization of $18,759.23, a PE ratio of 39.35, a P/E/G ratio of 1.54 and a beta of 1.09. Global Payments Inc has a fifty-two week low of $76.47 and a fifty-two week high of $118.30. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.15.
Global Payments (NYSE:GPN) last released its quarterly earnings results on Thursday, February 15th. The business services provider reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. The company had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $943.39 million. Global Payments had a return on equity of 17.94% and a net margin of 11.78%. Global Payments’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.89 EPS. analysts forecast that Global Payments Inc will post 4.85 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Friday, March 16th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Thursday, March 15th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. Global Payments’s payout ratio is 1.34%.
Global Payments declared that its board has authorized a share repurchase program on Thursday, February 15th that allows the company to repurchase $600.00 million in shares. This repurchase authorization allows the business services provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.
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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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