First Citizens Bank & Trust Co. boosted its position in Global Payments Inc. (NYSE:GPN) by 643.5% during the second quarter, Holdings Channel reports. The fund owned 54,084 shares of the company’s stock after buying an additional 46,810 shares during the period. First Citizens Bank & Trust Co.’s holdings in Global Payments were worth $3,861,000 as of its most recent filing with the SEC.
Other large investors have also recently made changes to their positions in the company. Aperio Group LLC increased its stake in shares of Global Payments by 47.1% in the first quarter. Aperio Group LLC now owns 23,446 shares of the company’s stock worth $1,531,000 after buying an additional 7,507 shares during the last quarter. BlackRock Group LTD boosted its position in Global Payments by 2.0% in the first quarter. BlackRock Group LTD now owns 515,022 shares of the company’s stock valued at $33,630,000 after buying an additional 10,310 shares during the period. Palisade Capital Management LLC NJ bought a new position in Global Payments during the first quarter valued at $7,167,000. Credit Agricole S A boosted its position in Global Payments by 20.4% in the first quarter. Credit Agricole S A now owns 58,710 shares of the company’s stock valued at $3,833,000 after buying an additional 9,959 shares during the period. Finally, BB&T Securities LLC boosted its position in Global Payments by 10.1% in the first quarter. BB&T Securities LLC now owns 6,160 shares of the company’s stock valued at $402,000 after buying an additional 567 shares during the period. 96.56% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Global Payments Inc. (NYSE:GPN) traded down 0.50% during trading on Monday, hitting $75.63. The stock had a trading volume of 669,495 shares. The company has a market cap of $11.62 billion, a P/E ratio of 38.92 and a beta of 1.09. The stock has a 50-day moving average price of $75.90 and a 200 day moving average price of $74.02. Global Payments Inc. has a 12 month low of $51.29 and a 12 month high of $79.93.
Global Payments (NYSE:GPN) last released its earnings results on Wednesday, October 5th. The company reported $0.86 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.83 by $0.03. The firm had revenue of $939.50 million for the quarter. Global Payments had a return on equity of 22.33% and a net margin of 8.74%. The business’s revenue for the quarter was up 52.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.79 EPS. Equities analysts expect that Global Payments Inc. will post $3.48 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 25th. Stockholders of record on Friday, November 11th will be given 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 of this dividend is Tuesday, November 8th. Global Payments’s dividend payout ratio is currently 2.06%.
Several research analysts recently weighed in on the stock. Oppenheimer Holdings Inc. restated an “outperform” rating and issued a $85.00 price objective on shares of Global Payments in a research report on Friday. Stifel Nicolaus upped their price objective on shares of Global Payments from $75.00 to $76.00 and gave the stock a “hold” rating in a research report on Friday. Deutsche Bank AG restated a “buy” rating and issued a $85.00 price objective (up from $79.00) on shares of Global Payments in a research report on Thursday. Robert W. Baird restated an “outperform” rating and issued a $85.00 price objective on shares of Global Payments in a research report on Tuesday, October 4th. Finally, Zacks Investment Research upgraded shares of Global Payments from a “hold” rating to a “buy” rating and set a $86.00 price objective on the stock in a research report on Monday, October 3rd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eighteen have assigned a buy rating to the company. Global Payments has an average rating of “Buy” and an average target price of $77.92.
In other Global Payments news, Director Robert H. B. Baldwin, Jr. sold 6,500 shares of the company’s stock in a transaction on Monday, July 18th. The stock was sold at an average price of $76.61, for a total value of $497,965.00. Following the transaction, the director now owns 362,063 shares of the company’s stock, valued at approximately $27,737,646.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William I. Jacobs sold 600 shares of the company’s stock in a transaction on Wednesday, July 13th. The shares were sold at an average price of $75.80, for a total value of $45,480.00. Following the completion of the transaction, the director now directly owns 44,716 shares in the company, valued at approximately $3,389,472.80. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.
About Global Payments
Global Payments Inc is a provider of payment technology services. The Company provides payment and digital commerce solutions. The Company operates in two segments: North America merchant services and International merchant services. The Company’s North America merchant services and International merchant services segments primarily provide payment solutions for credit cards, debit cards, electronic payments and check-related services.
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