Davis Capital Partners LLC Invests $47.27 Million in Global Payments Inc. (NYSE:GPN)

Davis Capital Partners LLC purchased a new position in Global Payments Inc. (NYSE:GPN) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 300,000 shares of the business services provider’s stock, valued at approximately $47,274,000. Global Payments makes up about 2.4% of Davis Capital Partners LLC’s holdings, making the stock its 16th biggest position. Davis Capital Partners LLC owned approximately 0.10% of Global Payments at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Kornitzer Capital Management Inc. KS lifted its holdings in shares of Global Payments by 1.8% in the third quarter. Kornitzer Capital Management Inc. KS now owns 163,204 shares of the business services provider’s stock worth $25,718,000 after buying an additional 2,893 shares in the last quarter. MidWestOne Financial Group Inc. raised its stake in Global Payments by 4.2% in the second quarter. MidWestOne Financial Group Inc. now owns 6,189 shares of the business services provider’s stock valued at $1,161,000 after purchasing an additional 252 shares in the last quarter. Morgan Stanley raised its stake in Global Payments by 41.3% in the second quarter. Morgan Stanley now owns 1,339,801 shares of the business services provider’s stock valued at $251,266,000 after purchasing an additional 391,675 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in Global Payments by 263.3% in the second quarter. Canada Pension Plan Investment Board now owns 66,010 shares of the business services provider’s stock valued at $12,380,000 after purchasing an additional 47,840 shares in the last quarter. Finally, Newman Dignan & Sheerar Inc. raised its stake in Global Payments by 53.7% in the third quarter. Newman Dignan & Sheerar Inc. now owns 8,775 shares of the business services provider’s stock valued at $1,383,000 after purchasing an additional 3,067 shares in the last quarter. 83.25% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:GPN traded down $1.05 during trading hours on Friday, hitting $148.19. The company had a trading volume of 31,636 shares, compared to its average volume of 2,496,463. The company has a market capitalization of $43.00 billion, a PE ratio of 47.08, a price-to-earnings-growth ratio of 0.86 and a beta of 1.13. The stock has a 50-day moving average price of $131.99 and a 200 day moving average price of $155.89. Global Payments Inc. has a 52 week low of $116.75 and a 52 week high of $220.81. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.15 and a quick ratio of 1.15.

Global Payments (NYSE:GPN) last released its quarterly earnings results on Tuesday, November 2nd. The business services provider reported $2.18 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.04. The business had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.99 billion. Global Payments had a net margin of 11.38% and a return on equity of 8.08%. During the same quarter in the previous year, the business posted $1.71 earnings per share. Analysts anticipate that Global Payments Inc. will post 7.77 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, December 30th. Investors of record on Thursday, December 16th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.67%. The ex-dividend date was Wednesday, December 15th. Global Payments’s dividend payout ratio (DPR) is currently 31.55%.

A number of brokerages recently weighed in on GPN. Oppenheimer lowered their target price on shares of Global Payments from $210.00 to $195.00 and set an “outperform” rating on the stock in a research note on Friday, November 5th. Robert W. Baird reaffirmed an “outperform” rating and issued a $205.00 target price on shares of Global Payments in a research note on Thursday, December 30th. Wolfe Research lowered their target price on shares of Global Payments from $250.00 to $200.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 3rd. Barclays lowered their target price on shares of Global Payments from $195.00 to $182.00 and set an “overweight” rating on the stock in a research note on Friday, December 10th. Finally, Bank of America reduced their price target on shares of Global Payments from $186.00 to $185.00 and set a “buy” rating on the stock in a research report on Friday, December 17th. Five equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat, Global Payments presently has a consensus rating of “Buy” and an average price target of $193.69.

In other Global Payments news, Director William I. Jacobs sold 500 shares of the firm’s stock in a transaction on Monday, November 15th. The stock was sold at an average price of $132.95, for a total transaction of $66,475.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kriss Cloninger III acquired 1,000 shares of the stock in a transaction on Friday, November 5th. The shares were purchased at an average cost of $137.68 per share, with a total value of $137,680.00. The disclosure for this purchase can be found here. Insiders own 1.00% of the company’s stock.

Global Payments Company Profile

Global Payments, Inc engages in the provision of payment technology and software solutions. It operates through the following segments: Merchant Solutions, Issuer Solutions and Business & Consumer Solutions. The Merchant Solutions segment provides payments technology and software solutions to customers globally.

Further Reading: Quiet Period Expirations

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

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