Zeke Capital Advisors LLC Reduces Stock Position in Global Payments Inc (NYSE:GPN)

Zeke Capital Advisors LLC lowered its position in shares of Global Payments Inc (NYSE:GPN) by 11.2% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,505 shares of the business services provider’s stock after selling 440 shares during the period. Zeke Capital Advisors LLC’s holdings in Global Payments were worth $561,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Coho Partners Ltd. bought a new position in Global Payments in the 1st quarter worth $118,168,000. Swedbank bought a new position in Global Payments in the 2nd quarter worth $101,586,000. Janus Henderson Group PLC raised its holdings in Global Payments by 7.4% in the 1st quarter. Janus Henderson Group PLC now owns 4,437,822 shares of the business services provider’s stock worth $605,852,000 after purchasing an additional 304,937 shares in the last quarter. Geode Capital Management LLC raised its holdings in Global Payments by 7.0% in the 4th quarter. Geode Capital Management LLC now owns 1,969,663 shares of the business services provider’s stock worth $202,756,000 after purchasing an additional 128,466 shares in the last quarter. Finally, Parametric Portfolio Associates LLC raised its holdings in Global Payments by 41.6% in the 1st quarter. Parametric Portfolio Associates LLC now owns 413,632 shares of the business services provider’s stock worth $56,469,000 after purchasing an additional 121,426 shares in the last quarter. 97.97% of the stock is owned by institutional investors and hedge funds.

NYSE:GPN traded down $0.39 on Tuesday, reaching $153.19. 79,216 shares of the stock traded hands, compared to its average volume of 1,502,732. The firm has a market capitalization of $24.02 billion, a P/E ratio of 29.56, a price-to-earnings-growth ratio of 1.66 and a beta of 1.01. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.20. Global Payments Inc has a 12 month low of $94.81 and a 12 month high of $172.20. The stock’s fifty day moving average is $163.13.

Global Payments (NYSE:GPN) last released its quarterly earnings data on Tuesday, July 30th. The business services provider reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.05. The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.11 billion. Global Payments had a net margin of 13.62% and a return on equity of 20.36%. Global Payments’s revenue was up 13.4% compared to the same quarter last year. During the same period last year, the business earned $1.29 EPS. As a group, research analysts predict that Global Payments Inc will post 5.82 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. Global Payments’s dividend payout ratio is currently 0.77%.

Several research analysts have commented on the stock. Wells Fargo & Co upped their price objective on shares of Global Payments from $180.00 to $185.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Piper Jaffray Companies set a $195.00 price objective on shares of Global Payments and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Susquehanna Bancshares set a $200.00 price objective on shares of Global Payments and gave the stock a “buy” rating in a report on Friday, July 26th. Zacks Investment Research upgraded shares of Global Payments from a “sell” rating to a “hold” rating and set a $163.00 price target for the company in a research note on Tuesday, May 7th. Finally, Guggenheim upgraded shares of Global Payments from a “neutral” rating to a “buy” rating in a research note on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nineteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $164.74.

In other news, Director Robert H. B. Baldwin, Jr. sold 4,250 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $146.36, for a total transaction of $622,030.00. Following the sale, the director now owns 48,382 shares of the company’s stock, valued at approximately $7,081,189.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director William I. Jacobs sold 600 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $165.05, for a total transaction of $99,030.00. Following the sale, the director now directly owns 30,188 shares in the company, valued at approximately $4,982,529.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,550 shares of company stock valued at $831,625. 0.88% of the stock is owned by company insiders.

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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Institutional Ownership by Quarter for Global Payments (NYSE:GPN)

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