Novare Capital Management LLC lowered its position in Global Payments Inc. (NYSE:GPN) by 5.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 77,704 shares of the company’s stock after selling 4,145 shares during the period. Global Payments makes up 1.6% of Novare Capital Management LLC’s portfolio, making the stock its 18th largest position. Novare Capital Management LLC owned approximately 0.05% of Global Payments worth $5,965,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently made changes to their positions in the company. Sei Investments Co. increased its stake in shares of Global Payments by 12.1% in the third quarter. Sei Investments Co. now owns 148,729 shares of the company’s stock worth $11,416,000 after buying an additional 16,047 shares during the period. US Bancorp DE boosted its position in Global Payments by 6.4% in the third quarter. US Bancorp DE now owns 31,098 shares of the company’s stock worth $2,388,000 after buying an additional 1,878 shares in the last quarter. Redwood Investments LLC boosted its position in Global Payments by 5.8% in the third quarter. Redwood Investments LLC now owns 340,744 shares of the company’s stock worth $26,156,000 after buying an additional 18,796 shares in the last quarter. Toronto Dominion Bank boosted its position in Global Payments by 427.6% in the third quarter. Toronto Dominion Bank now owns 4,490 shares of the company’s stock worth $345,000 after buying an additional 3,639 shares in the last quarter. Finally, KBC Group NV boosted its position in Global Payments by 4.8% in the third quarter. KBC Group NV now owns 51,614 shares of the company’s stock worth $3,962,000 after buying an additional 2,375 shares in the last quarter. 96.13% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Global Payments Inc. (NYSE:GPN) traded down 0.61% during trading on Wednesday, hitting $76.81. 268,587 shares of the stock were exchanged. The company has a market cap of $11.70 billion, a price-to-earnings ratio of 46.41 and a beta of 1.04. Global Payments Inc. has a 12-month low of $51.29 and a 12-month high of $80.88. The firm has a 50 day moving average of $74.55 and a 200-day moving average of $74.08.
Global Payments (NYSE:GPN) last released its earnings results on Monday, January 9th. The company reported $0.89 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.05. The company earned $817.20 million during the quarter. Global Payments had a return on equity of 19.50% and a net margin of 7.28%. The business’s quarterly revenue was up 30.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.76 earnings per share. On average, analysts forecast that Global Payments Inc. will post $3.45 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 24th. Stockholders of record on Friday, February 10th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.05%. The ex-dividend date is Wednesday, February 8th. Global Payments’s dividend payout ratio (DPR) is currently 2.41%.
A number of research firms have weighed in on GPN. Royal Bank Of Canada upped their price objective on shares of Global Payments from $87.00 to $88.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 10th. Stifel Nicolaus restated a “buy” rating and set a $92.00 price objective (up from $85.00) on shares of Global Payments in a research report on Tuesday, January 10th. RBC Capital Markets restated an “outperform” rating and set a $88.00 price objective (up from $87.00) on shares of Global Payments in a research report on Tuesday, January 10th. Deutsche Bank AG reiterated a “buy” rating and issued a $85.00 target price (up from $79.00) on shares of Global Payments in a research report on Thursday, October 6th. Finally, Cantor Fitzgerald assumed coverage on shares of Global Payments in a research report on Thursday, January 26th. They issued an “overweight” rating and a $93.00 target price for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $83.46.
In other Global Payments news, Director Robert H. B. Baldwin, Jr. sold 6,500 shares of the stock in a transaction on Monday, December 19th. The stock was sold at an average price of $71.03, for a total value of $461,695.00. Following the sale, the director now directly owns 330,752 shares of the company’s stock, valued at $23,493,314.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert H. B. Baldwin, Jr. sold 21,000 shares of the stock in a transaction on Monday, January 9th. The stock was sold at an average price of $80.00, for a total value of $1,680,000.00. Following the completion of the sale, the director now directly owns 305,752 shares in the company, valued at $24,460,160. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 42,865 shares of company stock valued at $3,350,905. Company 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.
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