Chartwell Investment Partners LLC raised its stake in shares of Global Payments Inc (NYSE:GPN) by 16.2% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 19,765 shares of the business services provider’s stock after acquiring an additional 2,751 shares during the quarter. Chartwell Investment Partners LLC’s holdings in Global Payments were worth $3,353,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. State of Michigan Retirement System raised its holdings in Global Payments by 2.2% during the second quarter. State of Michigan Retirement System now owns 346,180 shares of the business services provider’s stock valued at $58,719,000 after buying an additional 7,444 shares in the last quarter. Duality Advisers LP bought a new position in Global Payments during the second quarter valued at about $2,114,000. M&T Bank Corp raised its holdings in Global Payments by 4.1% during the second quarter. M&T Bank Corp now owns 43,176 shares of the business services provider’s stock valued at $7,323,000 after buying an additional 1,690 shares in the last quarter. Iberiabank Corp grew its position in shares of Global Payments by 1,554.1% in the second quarter. Iberiabank Corp now owns 36,588 shares of the business services provider’s stock valued at $6,206,000 after purchasing an additional 34,376 shares during the last quarter. Finally, Sciencast Management LP bought a new position in shares of Global Payments in the second quarter worth about $442,000. Institutional investors own 87.89% of the company’s stock.
Global Payments stock opened at $178.02 on Friday. The stock has a fifty day moving average price of $171.93 and a two-hundred day moving average price of $173.70. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 1.34. The firm has a market capitalization of $53.25 billion, a P/E ratio of 83.58, a P/E/G ratio of 2.07 and a beta of 1.14. Global Payments Inc has a 52-week low of $105.54 and a 52-week high of $209.62.
Global Payments (NYSE:GPN) last announced its earnings results on Wednesday, May 6th. The business services provider reported $1.58 EPS for the quarter, topping the consensus estimate of $1.53 by $0.05. The company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.74 billion. Global Payments had a return on equity of 6.46% and a net margin of 7.79%. The business’s revenue for the quarter was up 115.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.34 earnings per share. On average, equities research analysts predict that Global Payments Inc will post 5.61 EPS for the current fiscal year.
In related news, Director William I. Jacobs sold 500 shares of the firm’s stock in a transaction dated Wednesday, July 15th. The stock was sold at an average price of $166.25, for a total value of $83,125.00. Following the transaction, the director now owns 24,893 shares in the company, valued at $4,138,461.25. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Guido Francesco Sacchi sold 8,754 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $174.31, for a total value of $1,525,909.74. Following the completion of the transaction, the executive vice president now owns 36,123 shares in the company, valued at approximately $6,296,600.13. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,297 shares of company stock worth $1,971,082. 0.88% of the stock is owned by company insiders.
GPN has been the topic of a number of research analyst reports. SunTrust Banks raised their target price on Global Payments from $165.00 to $210.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Stephens cut their price target on Global Payments from $208.00 to $164.00 and set an “overweight” rating for the company in a report on Thursday, April 9th. Morgan Stanley upped their price target on Global Payments from $147.00 to $161.00 and gave the stock an “equal weight” rating in a report on Thursday, May 7th. TheStreet upgraded Global Payments from a “c+” rating to a “b” rating in a report on Wednesday, May 6th. Finally, Credit Suisse Group upped their price target on Global Payments from $190.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, May 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-six have given a buy rating to the stock. Global Payments has a consensus rating of “Buy” and a consensus price target of $194.31.
Global Payments 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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