State Street Corp increased its position in Global Payments Inc (NYSE:GPN) by 1.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,773,243 shares of the business services provider’s stock after buying an additional 158,819 shares during the period. State Street Corp owned 3.92% of Global Payments worth $2,149,323,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC increased its holdings in Global Payments by 160.7% in the third quarter. Commonwealth Equity Services LLC now owns 10,651 shares of the business services provider’s stock worth $1,693,000 after buying an additional 6,566 shares during the last quarter. Lindbrook Capital LLC increased its holdings in Global Payments by 19.0% in the third quarter. Lindbrook Capital LLC now owns 400 shares of the business services provider’s stock worth $64,000 after buying an additional 64 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in Global Payments by 51.2% in the third quarter. Public Employees Retirement System of Ohio now owns 164,152 shares of the business services provider’s stock worth $26,100,000 after buying an additional 55,616 shares during the last quarter. Fulton Bank N.A. increased its holdings in Global Payments by 13.3% in the fourth quarter. Fulton Bank N.A. now owns 7,522 shares of the business services provider’s stock worth $1,373,000 after buying an additional 885 shares during the last quarter. Finally, Colony Group LLC acquired a new position in Global Payments in the third quarter worth approximately $1,238,000. Hedge funds and other institutional investors own 87.83% of the company’s stock.
In other Global Payments news, Director Joia M. Johnson acquired 560 shares of Global Payments stock in a transaction dated Monday, December 2nd. The stock was bought at an average cost of $178.45 per share, with a total value of $99,932.00. Following the completion of the transaction, the director now owns 2,347 shares of the company’s stock, valued at $418,822.15. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William I. Jacobs sold 600 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $179.70, for a total value of $107,820.00. Following the completion of the sale, the director now directly owns 27,188 shares of the company’s stock, valued at $4,885,683.60. The disclosure for this sale can be found here. 0.88% of the stock is currently owned by corporate insiders.
Global Payments (NYSE:GPN) last posted its quarterly earnings data on Wednesday, February 12th. The business services provider reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.11. Global Payments had a return on equity of 9.05% and a net margin of 10.59%. The company had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $2.06 billion. During the same period in the prior year, the business earned $1.33 earnings per share. Global Payments’s revenue for the quarter was up 125.7% compared to the same quarter last year. Analysts expect that Global Payments Inc will post 5.83 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be given a $0.195 dividend. This represents a $0.78 annualized dividend and a dividend yield of 0.38%. This is a boost from Global Payments’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend is Thursday, March 12th. Global Payments’s dividend payout ratio is currently 15.03%.
A number of equities research analysts have issued reports on the company. Wells Fargo & Co upped their target price on Global Payments from $190.00 to $225.00 and gave the stock an “overweight” rating in a research report on Thursday. Wedbush upped their target price on Global Payments from $185.00 to $218.00 and gave the stock an “outperform” rating in a research report on Monday, January 13th. Cowen reaffirmed an “outperform” rating and set a $206.00 target price (up previously from $195.00) on shares of Global Payments in a research report on Friday, December 13th. Raymond James upped their target price on Global Payments from $210.00 to $229.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Oppenheimer reaffirmed a “buy” rating and set a $220.00 target price on shares of Global Payments in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-five have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $205.53.
Global Payments Company Profile
Global Payments Inc provides payment technology and software solutions for card, electronic, check, and digital-based payments. The company operates in three segments: North America, Europe, and Asia-Pacific. 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, and online reporting services.
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