Dimensional Fund Advisors LP Sells 33,983 Shares of Global Payments Inc (GPN)
Dimensional Fund Advisors LP reduced its stake in shares of Global Payments Inc (NYSE:GPN) by 4.2% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 776,248 shares of the business services provider’s stock after selling 33,983 shares during the period. Dimensional Fund Advisors LP owned about 0.49% of Global Payments worth $73,763,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. BB&T Securities LLC lifted its stake in Global Payments by 12.5% in the third quarter. BB&T Securities LLC now owns 4,703 shares of the business services provider’s stock valued at $446,000 after purchasing an additional 522 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its position in shares of Global Payments by 2.6% during the third quarter. Schwab Charles Investment Management Inc. now owns 507,013 shares of the business services provider’s stock worth $48,182,000 after acquiring an additional 12,846 shares in the last quarter. WINTON GROUP Ltd increased its holdings in shares of Global Payments by 36.7% in the third quarter. WINTON GROUP Ltd now owns 3,031 shares of the business services provider’s stock worth $288,000 after purchasing an additional 814 shares during the period. Campbell & CO Investment Adviser LLC bought a new position in shares of Global Payments in the third quarter worth $209,000. Finally, Wells Fargo & Company MN increased its holdings in shares of Global Payments by 9.3% in the third quarter. Wells Fargo & Company MN now owns 1,679,426 shares of the business services provider’s stock worth $159,596,000 after purchasing an additional 142,950 shares during the period. 98.90% of the stock is owned by hedge funds and other institutional investors.
Shares of Global Payments Inc (GPN) opened at $100.36 on Tuesday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.14 and a current ratio of 1.14. The firm has a market cap of $15,971.53, a PE ratio of 56.07, a PEG ratio of 1.85 and a beta of 1.11. Global Payments Inc has a 1-year low of $68.98 and a 1-year high of $104.90.
Global Payments (NYSE:GPN) last posted its earnings results on Wednesday, November 8th. The business services provider reported $1.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.03 by $0.12. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $917.31 million. Global Payments had a net margin of 7.14% and a return on equity of 18.50%. Global Payments’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.89 earnings per share. research analysts predict that Global Payments Inc will post 3.81 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.04%. Global Payments’s dividend payout ratio is currently 2.23%.
In other Global Payments news, Director Alan M. Silberstein sold 600 shares of the firm’s stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $101.55, for a total value of $60,930.00. Following the completion of the sale, the director now directly owns 44,893 shares in the company, valued at $4,558,884.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert H. B. Baldwin, Jr. sold 26,000 shares of the firm’s stock in a transaction dated Thursday, October 12th. The stock was 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. Over the last quarter, insiders have sold 29,600 shares of company stock valued at $2,954,042. 0.93% of the stock is currently owned by company insiders.
A number of research firms recently commented on GPN. Morgan Stanley increased their target price on Global Payments from $98.00 to $106.00 and gave the company an “equal weight” rating in a research note on Thursday, November 2nd. Stifel Nicolaus reissued a “buy” rating and issued a $121.00 target price (up previously from $103.00) on shares of Global Payments in a research note on Thursday, November 9th. Credit Suisse Group reissued an “outperform” rating and issued a $108.00 target price (up previously from $100.00) on shares of Global Payments in a research note on Thursday, November 9th. They noted that the move was a valuation call. BMO Capital Markets increased their target price on Global Payments from $103.00 to $115.00 and gave the company a “positive” rating in a research note on Thursday, November 9th. Finally, Piper Jaffray Companies increased their target price on Global Payments to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, November 8th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-two have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $106.15.
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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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