Park Avenue Securities LLC Increases Stock Position in Global Payments Inc (NYSE:GPN)

Park Avenue Securities LLC raised its position in shares of Global Payments Inc (NYSE:GPN) by 9.7% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,895 shares of the business services provider’s stock after buying an additional 168 shares during the period. Park Avenue Securities LLC’s holdings in Global Payments were worth $303,000 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. Janus Henderson Group PLC lifted its position in shares of 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 during the period. Geode Capital Management LLC lifted its position in shares of 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 during the period. Northern Trust Corp lifted its position in shares of Global Payments by 3.9% in the 1st quarter. Northern Trust Corp now owns 1,804,053 shares of the business services provider’s stock worth $246,289,000 after purchasing an additional 68,478 shares during the period. Wells Fargo & Company MN lifted its position in shares of Global Payments by 3.5% in the 1st quarter. Wells Fargo & Company MN now owns 1,666,899 shares of the business services provider’s stock worth $227,564,000 after purchasing an additional 56,582 shares during the period. Finally, Coho Partners Ltd. purchased a new stake in shares of Global Payments in the 1st quarter worth about $118,168,000. 97.97% of the stock is owned by institutional investors and hedge funds.

In other Global Payments news, 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 completion of the sale, the director now directly owns 30,188 shares in the company, valued at approximately $4,982,529.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 $7,081,189.52. 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.

Several equities research analysts have recently commented on GPN shares. Cantor Fitzgerald raised their target price on shares of Global Payments from $143.00 to $163.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. Barclays raised their target price on shares of Global Payments from $180.00 to $195.00 and gave the stock an “overweight” rating in a research report on Monday. Piper Jaffray Companies set a $195.00 target price on shares of Global Payments and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. raised their target price on shares of Global Payments from $140.00 to $151.00 and gave the stock an “overweight” rating in a research report on Monday, May 6th. Finally, Morgan Stanley raised their target price on shares of Global Payments from $128.00 to $137.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. Global Payments currently has an average rating of “Buy” and a consensus price target of $164.74.

NYSE:GPN traded up $2.23 on Wednesday, reaching $156.64. 954,380 shares of the stock traded hands, compared to its average volume of 1,502,732. The firm has a market capitalization of $25.30 billion, a P/E ratio of 30.18, 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 $163.01.

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%.

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

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