First Personal Financial Services trimmed its holdings in Global Payments (NYSE:GPN) by 41.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,695 shares of the business services provider’s stock after selling 1,201 shares during the period. First Personal Financial Services’ holdings in Global Payments were worth $189,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in GPN. AGF Investments Inc. acquired a new stake in shares of Global Payments in the first quarter valued at approximately $54,007,000. Massachusetts Financial Services Co. MA lifted its position in shares of Global Payments by 5.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 5,620,956 shares of the business services provider’s stock valued at $626,849,000 after buying an additional 274,364 shares during the last quarter. Guggenheim Capital LLC lifted its position in shares of Global Payments by 46.0% in the fourth quarter. Guggenheim Capital LLC now owns 807,566 shares of the business services provider’s stock valued at $80,951,000 after buying an additional 254,315 shares during the last quarter. Element Capital Management LLC acquired a new stake in shares of Global Payments in the fourth quarter valued at approximately $20,043,000. Finally, KBC Group NV lifted its position in shares of Global Payments by 653.6% in the first quarter. KBC Group NV now owns 191,369 shares of the business services provider’s stock valued at $21,341,000 after buying an additional 165,975 shares during the last quarter. 96.38% of the stock is owned by institutional investors.
In other Global Payments news, EVP David Lawrence Green sold 2,198 shares of the firm’s stock in a transaction on Friday, May 11th. The stock was sold at an average price of $116.45, for a total transaction of $255,957.10. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director William I. Jacobs sold 600 shares of the firm’s stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $118.27, for a total value of $70,962.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,648 shares of company stock worth $2,634,430. Corporate insiders own 0.98% of the company’s stock.
Global Payments (NYSE:GPN) last posted its quarterly earnings data on Thursday, May 3rd. The business services provider reported $1.13 EPS for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.03. Global Payments had a return on equity of 17.66% and a net margin of 13.27%. The firm had revenue of $924.30 million for the quarter, compared to analyst estimates of $914.06 million. During the same quarter last year, the company earned $0.85 EPS. The company’s revenue was up 17.3% on a year-over-year basis. equities research analysts expect that Global Payments will post 4.87 earnings per share for the current fiscal year.
Global Payments declared that its board has approved a share buyback program on Thursday, February 15th that authorizes the company to buyback $600.00 million in outstanding shares. This buyback authorization authorizes the business services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 15th will be paid a dividend of $0.01 per share. The ex-dividend date is Thursday, June 14th. This represents a $0.04 dividend on an annualized basis and a yield of 0.04%. Global Payments’s dividend payout ratio (DPR) is presently 1.00%.
GPN has been the subject of a number of recent analyst reports. Citigroup raised their price objective on Global Payments from $122.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, February 16th. SunTrust Banks reaffirmed a “buy” rating and issued a $130.00 price objective on shares of Global Payments in a research report on Friday, February 16th. Deutsche Bank raised their price objective on Global Payments and gave the company a “buy” rating in a research report on Friday, February 16th. BMO Capital Markets reaffirmed a “buy” rating and issued a $135.00 price objective on shares of Global Payments in a research report on Friday, February 16th. Finally, Cowen reiterated a “buy” rating and set a $127.00 target price on shares of Global Payments in a research note on Thursday, March 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-two have issued a buy rating to the stock. Global Payments currently has an average rating of “Buy” and a consensus target price of $112.21.
Global Payments Profile
Global Payments Inc provides payment technology and software solutions for credit cards, debit cards, electronic payments, and check-related services. It offers authorization services, settlement and funding services, customer support and help-desk functions, chargeback resolution, terminal rental, sales and deployment, payment security services, consolidated billing and statements, online reporting, industry compliance, and payment card industry security services.
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