Stratos Wealth Partners LTD. increased its position in shares of Global Payments Inc. (NYSE: GPN – Get Rating) by 9.8% in the first quarter, reports Holdings Channel. The fund held 5,037 shares of the business services provider after acquiring an additional 449 shares during the period. The holdings of Stratos Wealth Partners LTD. in Global Payments were worth $689,000 when it was last filed with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also recently increased or reduced their stake in GPN. Ieq Capital LLC increased its stake in Global Payments by 24.9% in the first quarter. Ieq Capital LLC now owns 5,997 shares of the business services provider valued at $821,000 after acquiring an additional 1,194 shares during the period. Sugarloaf Wealth Management LLC raised its position in Global Payments shares by 8.1% in the first quarter. Sugarloaf Wealth Management LLC now owns 1,315 shares of the business services provider worth $180,000 after buying 98 additional shares in the last quarter. WoodTrust Financial Corp raised its position in Global Payments shares by 52.0% in the first quarter. WoodTrust Financial Corp now owns 7,600 shares of the business services provider worth $1,040,000 after buying an additional 2,600 shares last quarter. Pendal Group Ltd increased its stake in Global Payments by 1,318.9% in Q1. Pendal Group Ltd now owns 704,788 shares of the business services provider worth $96,443,000 after acquiring an additional 655,117 shares during the period. Finally, Assenagon Asset Management SA increased its stake in Global Payments shares by 13,078.8% during the first quarter. Assenagon Asset Management SA now owns 267,002 shares of the business services provider worth $36,537,000 after purchasing an additional 264,976 shares during the period. 84.53% of the shares are held by hedge funds and other institutional investors.
In other Global Payments news, Executive Vice President David Lawrence Green sold 16,252 Global Payments shares in a trade that took place on Friday, June 3. The shares were sold at an average price of $130.10, for a total transaction of $2,114,385.20. Following the transaction, the executive vice president now owns 97,818 shares of the company, valued at approximately $12,726,121.80. The transaction was disclosed in a legal filing with the SEC, which is available via this link. 1.19% of the shares are currently held by insiders.
GPN stock opened at $111.33 on Friday. The company has a market capitalization of $31.34 billion, a P/E ratio of 31.90, a price-to-earnings growth ratio of 0.73 and a beta of 1.04. The company has a debt ratio of 0.46, a quick ratio of 1.06 and a current ratio of 1.06. Global Payments Inc. has a 52-week low of $105.52 and a 52-week high of $196.88. The company has a 50-day simple moving average of $118.52 and a two-hundred-day simple moving average of $131.72.
Global Payments (NYSE:GPN – Get Rating) last released its quarterly results on Monday, May 2. The business services provider reported earnings per share (EPS) of $1.97 for the quarter, beating analyst consensus estimates of $1.92 by $0.05. The company posted revenue of $2.16 billion in the quarter, versus a consensus estimate of $1.95 billion. Global Payments had a return on equity of 8.79% and a net margin of 11.66%. The company’s quarterly revenue increased 8.3% year over year. In the same quarter of the previous year, the company achieved EPS of $1.72. As a group, sell-side analysts expect Global Payments Inc. to post earnings per share of 9.08 for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, June 24. Shareholders of record on Friday, June 10 received a dividend of $0.25 per share. The ex-dividend date was Thursday, June 9. This represents a dividend of $1.00 on an annualized basis and a yield of 0.90%. Global Payments’ dividend payout ratio (DPR) is currently 28.65%.
A number of brokerages have recently commented on GPN. Citigroup reduced its price target on Global Payments from $195.00 to $180.00 in a Monday, April 25 research note. StockNews.com launched coverage on Global Payments in a Thursday, March 31 report. They issued a “holding” rating on the stock. Goldman Sachs Group began covering Global Payments in a report on Tuesday, May 17. They issued a “neutral” rating and a price target of $151.00 on the stock. Morgan Stanley lowered its price target on Global Payments from $156.00 to $123.00 and set an “equal weight” rating on the stock in a Tuesday, June 21 report. Finally, Keefe, Bruyette & Woods lowered their target price on Global Payments from $175.00 to $155.00 in a report on Monday. Five equity research analysts gave the stock a hold rating and twenty-three gave the stock a buy rating. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $179.86.
Global Payments Profile (Get a rating)
Global Payments Inc provides payment technology and software solutions for card, electronic, check and digital payments in the Americas, Europe and Asia-Pacific. It operates through three segments: Merchant Solutions, Issuer Solutions and Business and Consumer Solutions. The Merchant Solutions segment offers authorization services, settlement and financing services, customer support and assistance functions, chargeback resolution, terminal rental, sales and deployment, security services of payments, consolidated billing and statements, and online reporting services.
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