Concentric Wealth Management LLC lifted its holdings in Global Payments Inc (NYSE:GPN) by 79.9% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 8,095 shares of the business services provider’s stock after acquiring an additional 3,595 shares during the quarter. Concentric Wealth Management LLC’s holdings in Global Payments were worth $1,105,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in GPN. Lunia Capital LP bought a new stake in Global Payments during the 4th quarter valued at $18,742,000. Massachusetts Financial Services Co. MA raised its holdings in Global Payments by 9.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,447,043 shares of the business services provider’s stock valued at $561,752,000 after buying an additional 449,751 shares during the last quarter. Janus Henderson Group PLC raised its holdings in Global Payments by 7.4% during the 1st quarter. Janus Henderson Group PLC now owns 4,437,822 shares of the business services provider’s stock valued at $605,852,000 after buying an additional 304,937 shares during the last quarter. Geode Capital Management LLC raised its holdings in Global Payments by 7.0% during the 4th quarter. Geode Capital Management LLC now owns 1,969,663 shares of the business services provider’s stock valued at $202,756,000 after buying an additional 128,466 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in Global Payments by 16.0% during the 4th quarter. Bank of America Corp DE now owns 1,448,331 shares of the business services provider’s stock valued at $149,367,000 after buying an additional 199,924 shares during the last quarter. Hedge funds and other institutional investors own 99.81% of the company’s stock.
A number of equities research analysts recently commented on GPN shares. Nomura upped their price target on shares of Global Payments from $91.00 to $94.00 and gave the company a “reduce” rating in a report on Monday, February 11th. Zacks Investment Research upgraded shares of Global Payments from a “sell” rating to a “hold” rating in a report on Wednesday, February 6th. SunTrust Banks upped their price target on shares of Global Payments to $155.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. TheStreet upgraded shares of Global Payments from a “c” rating to a “b-” rating in a report on Wednesday, February 13th. Finally, Jefferies Financial Group initiated coverage on shares of Global Payments in a report on Thursday, February 28th. They set a “buy” rating and a $150.00 price target for the company. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $143.10.
Global Payments (NYSE:GPN) last released its earnings results on Thursday, May 2nd. The business services provider reported $1.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.22 by $0.12. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.04 billion. Global Payments had a net margin of 13.69% and a return on equity of 19.83%. The company’s revenue was up 12.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.13 EPS. Equities research analysts expect that Global Payments Inc will post 5.79 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date is Thursday, June 13th. Global Payments’s dividend payout ratio is presently 0.77%.
In other news, Director Robert H. B. Baldwin, Jr. sold 4,250 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $146.36, for a total value of $622,030.00. Following the sale, the director now directly owns 48,382 shares of the company’s stock, valued at approximately $7,081,189.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeffrey Steven Sloan sold 167,545 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $129.59, for a total transaction of $21,712,156.55. Following the completion of the sale, the chief executive officer now directly owns 579,207 shares in the company, valued at $75,059,435.13. The disclosure for this sale can be found here. Insiders sold a total of 211,079 shares of company stock worth $27,503,399 over the last ninety days. Insiders own 0.88% of the company’s stock.
About Global Payments
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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