Price Capital Management Inc. bought a new position in Global Payments Inc (NYSE:GPN) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,600 shares of the business services provider’s stock, valued at approximately $260,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Concentric Wealth Management LLC lifted its position in Global Payments by 6.7% during the second quarter. Concentric Wealth Management LLC now owns 8,635 shares of the business services provider’s stock valued at $1,383,000 after purchasing an additional 540 shares during the period. Homrich & Berg bought a new position in Global Payments during the second quarter valued at approximately $245,000. National Asset Management Inc. lifted its position in Global Payments by 36.1% during the second quarter. National Asset Management Inc. now owns 2,089 shares of the business services provider’s stock valued at $337,000 after purchasing an additional 554 shares during the period. Magnus Financial Group LLC bought a new position in Global Payments during the second quarter valued at approximately $211,000. Finally, Meeder Asset Management Inc. lifted its position in Global Payments by 1,460.0% during the second quarter. Meeder Asset Management Inc. now owns 234 shares of the business services provider’s stock valued at $37,000 after purchasing an additional 219 shares during the period. Hedge funds and other institutional investors own 98.21% of the company’s stock.

GPN traded down $0.06 during trading on Wednesday, hitting $161.10. The company’s stock had a trading volume of 26,785 shares, compared to its average volume of 1,769,561. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.20. Global Payments Inc has a one year low of $94.81 and a one year high of $172.20. The firm has a market cap of $24.72 billion, a PE ratio of 31.13, a P/E/G ratio of 1.61 and a beta of 1.01. The business’s 50 day simple moving average is $162.58 and its 200-day simple moving average is $146.09.

Global Payments (NYSE:GPN) last released its quarterly earnings results on Tuesday, July 30th. The business services provider reported $1.51 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.46 by $0.05. Global Payments had a net margin of 13.62% and a return on equity of 20.36%. The business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same period last year, the firm earned $1.29 earnings per share. The company’s quarterly revenue was up 13.4% on a year-over-year basis. Equities research analysts expect that Global Payments Inc will post 5.82 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be given a $0.01 dividend. The ex-dividend date is Thursday, September 12th. This represents a $0.04 annualized dividend and a yield of 0.02%. Global Payments’s payout ratio is presently 0.77%.

A number of research analysts recently weighed in on GPN shares. Wedbush increased their price objective on shares of Global Payments from $168.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Oppenheimer increased their price objective on shares of Global Payments from $161.00 to $178.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Robert W. Baird increased their price objective on shares of Global Payments from $174.00 to $182.00 and gave the company an “outperform” rating in a research report on Tuesday, July 9th. Morgan Stanley increased their price objective on shares of Global Payments from $128.00 to $137.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 7th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Global Payments from $140.00 to $151.00 and gave the company an “overweight” rating in a research report on Monday, May 6th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $164.74.

In other news, Director Ruth Ann Marshall sold 5,000 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $160.24, for a total value of $801,200.00. Following the completion of the sale, the director now directly owns 43,677 shares of the company’s stock, valued at $6,998,802.48. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Alan M. Silberstein sold 700 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $156.18, for a total transaction of $109,326.00. The disclosure for this sale can be found here. Insiders sold 7,000 shares of company stock worth $1,120,121 over the last quarter. Insiders own 0.88% of the company’s stock.

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

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