Ameriprise Financial Inc. cut its stake in shares of Global Payments Inc. (NYSE:GPN) by 7.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 532,003 shares of the company’s stock after selling 44,773 shares during the period. Ameriprise Financial Inc. owned approximately 0.35% of Global Payments worth $40,836,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the stock. Oakbrook Investments LLC increased its stake in shares of Global Payments by 163.4% in the second quarter. Oakbrook Investments LLC now owns 17,650 shares of the company’s stock valued at $1,260,000 after buying an additional 10,950 shares in the last quarter. JLB & Associates Inc. increased its stake in shares of Global Payments by 4.2% in the second quarter. JLB & Associates Inc. now owns 97,974 shares of the company’s stock valued at $6,993,000 after buying an additional 3,929 shares in the last quarter. LS Investment Advisors LLC increased its stake in shares of Global Payments by 36.4% in the second quarter. LS Investment Advisors LLC now owns 4,881 shares of the company’s stock valued at $348,000 after buying an additional 1,303 shares in the last quarter. IBM Retirement Fund increased its stake in shares of Global Payments by 36.3% in the second quarter. IBM Retirement Fund now owns 18,180 shares of the company’s stock valued at $1,355,000 after buying an additional 4,840 shares in the last quarter. Finally, 1st Global Advisors Inc. increased its stake in shares of Global Payments by 5.1% in the second quarter. 1st Global Advisors Inc. now owns 11,651 shares of the company’s stock valued at $832,000 after buying an additional 561 shares in the last quarter. Institutional investors own 94.01% of the company’s stock.
Global Payments Inc. (NYSE:GPN) traded up 0.448% on Tuesday, hitting $70.615. 53,895 shares of the company’s stock traded hands. Global Payments Inc. has a 12 month low of $51.29 and a 12 month high of $79.93. The stock has a 50 day moving average price of $70.57 and a 200-day moving average price of $73.70. The stock has a market cap of $10.85 billion, a P/E ratio of 36.343 and a beta of 1.04.
Global Payments (NYSE:GPN) last announced its quarterly earnings data on Wednesday, October 5th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.03. The company earned $939.50 million during the quarter. Global Payments had a return on equity of 22.33% and a net margin of 8.74%. The company’s revenue was up 52.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.79 earnings per share. Equities analysts predict that Global Payments Inc. will post $3.51 earnings per share for the current fiscal year.
Several equities analysts recently weighed in on GPN shares. Deutsche Bank AG restated a “buy” rating and set a $85.00 price target (up previously from $79.00) on shares of Global Payments in a research report on Thursday, October 6th. Stifel Nicolaus increased their price target on shares of Global Payments from $75.00 to $76.00 and gave the company a “hold” rating in a research report on Friday, October 7th. Zacks Investment Research upgraded shares of Global Payments from a “hold” rating to a “buy” rating and set a $86.00 price target for the company in a research report on Monday, October 3rd. Robert W. Baird restated an “outperform” rating and set a $85.00 price target on shares of Global Payments in a research report on Tuesday, October 4th. Finally, Wedbush restated an “outperform” rating and set a $85.00 price target on shares of Global Payments in a research report on Thursday, September 8th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $80.40.
In related news, Director Robert H. B. Baldwin, Jr. sold 6,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 18th. The stock was sold at an average price of $73.89, for a total transaction of $480,285.00. Following the completion of the transaction, the director now directly owns 343,752 shares in the company, valued at approximately $25,399,835.28. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director William I. Jacobs sold 600 shares of the business’s stock in a transaction that occurred on Thursday, October 13th. The shares were sold at an average price of $73.22, for a total value of $43,932.00. Following the transaction, the director now owns 44,411 shares of the company’s stock, valued at $3,251,773.42. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.
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.
