Global Payments Inc (GPN) Stake Raised by Alkeon Capital Management LLC

Alkeon Capital Management LLC grew its stake in shares of Global Payments Inc (NYSE:GPN) by 0.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,200,011 shares of the business services provider’s stock after buying an additional 7,000 shares during the period. Alkeon Capital Management LLC owned 0.75% of Global Payments worth $114,037,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in GPN. Thompson Davis & CO. Inc. increased its position in Global Payments by 0.8% in the second quarter. Thompson Davis & CO. Inc. now owns 1,197 shares of the business services provider’s stock worth $108,000 after purchasing an additional 10 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Global Payments by 0.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 11,329 shares of the business services provider’s stock worth $1,023,000 after purchasing an additional 34 shares during the last quarter. First Personal Financial Services increased its position in Global Payments by 1.7% in the second quarter. First Personal Financial Services now owns 2,875 shares of the business services provider’s stock worth $260,000 after purchasing an additional 47 shares during the last quarter. Keybank National Association OH increased its position in Global Payments by 1.5% in the second quarter. Keybank National Association OH now owns 3,792 shares of the business services provider’s stock worth $342,000 after purchasing an additional 56 shares during the last quarter. Finally, HPM Partners LLC increased its position in Global Payments by 0.6% in the second quarter. HPM Partners LLC now owns 9,384 shares of the business services provider’s stock worth $848,000 after purchasing an additional 59 shares during the last quarter. Hedge funds and other institutional investors own 98.97% of the company’s stock.

Several equities research analysts recently weighed in on the stock. BidaskClub cut shares of Global Payments from a “buy” rating to a “hold” rating in a research report on Saturday, August 26th. Cowen restated a “buy” rating and issued a $102.00 price target on shares of Global Payments in a research report on Friday, September 8th. Zacks Investment Research upgraded shares of Global Payments from a “hold” rating to a “buy” rating and set a $110.00 price target on the stock in a research report on Wednesday, October 11th. KeyCorp restated a “buy” rating and issued a $110.00 price target on shares of Global Payments in a research report on Friday, October 27th. Finally, Bank of America assumed coverage on shares of Global Payments in a research report on Tuesday, September 12th. They issued a “buy” rating and a $110.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and twenty-three have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $105.01.

In other news, Director William I. Jacobs sold 600 shares of the business’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $98.00, for a total transaction of $58,800.00. Following the completion of the sale, the director now directly owns 40,075 shares of the company’s stock, valued at $3,927,350. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert H. B. Baldwin, Jr. sold 26,000 shares of the business’s stock in a transaction on Thursday, October 12th. The shares were sold at an average price of $99.82, for a total transaction of $2,595,320.00. The disclosure for this sale can be found here. Insiders have sold 29,600 shares of company stock valued at $2,950,274 over the last three months. Insiders own 0.93% of the company’s stock.

Global Payments Inc (GPN) traded up $0.85 during mid-day trading on Tuesday, reaching $100.22. 866,200 shares of the company’s stock were exchanged, compared to its average volume of 1,118,072. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.14 and a quick ratio of 1.14. Global Payments Inc has a fifty-two week low of $68.98 and a fifty-two week high of $104.90. The company has a market capitalization of $15,813.98, a PE ratio of 26.71, a price-to-earnings-growth ratio of 1.83 and a beta of 1.11.

Global Payments (NYSE:GPN) last posted its quarterly earnings data on Wednesday, November 8th. The business services provider reported $1.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.03 by $0.12. Global Payments had a net margin of 7.14% and a return on equity of 18.50%. The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $917.31 million. During the same quarter in the previous year, the business posted $0.89 earnings per share. The business’s revenue was up 9.1% compared to the same quarter last year. equities research analysts forecast that Global Payments Inc will post 3.81 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.04%. The ex-dividend date is Thursday, December 14th. Global Payments’s dividend payout ratio is currently 2.23%.

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About Global Payments

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.

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

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