Nuveen Asset Management LLC Lowers Stock Holdings in Global Payments Inc (NYSE:GPN)
Nuveen Asset Management LLC trimmed its holdings in shares of Global Payments Inc (NYSE:GPN) by 4.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,898,691 shares of the business services provider’s stock after selling 92,004 shares during the period. Nuveen Asset Management LLC owned approximately 0.63% of Global Payments worth $322,056,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Heritage Wealth Advisors raised its holdings in Global Payments by 264.2% in the 2nd quarter. Heritage Wealth Advisors now owns 539 shares of the business services provider’s stock worth $25,000 after acquiring an additional 391 shares during the last quarter. CX Institutional raised its stake in Global Payments by 98.8% during the 2nd quarter. CX Institutional now owns 169 shares of the business services provider’s stock valued at $29,000 after buying an additional 84 shares during the last quarter. Campbell Wealth Management purchased a new stake in Global Payments during the 2nd quarter valued at $30,000. Maverick Capital Ltd. purchased a new stake in Global Payments during the 1st quarter valued at $38,000. Finally, Benjamin F. Edwards & Company Inc. raised its stake in Global Payments by 1,976.9% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 270 shares of the business services provider’s stock valued at $39,000 after buying an additional 257 shares during the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.
A number of brokerages have recently issued reports on GPN. Goldman Sachs Group began coverage on shares of Global Payments in a research report on Tuesday, July 14th. They set a “buy” rating and a $197.00 price objective for the company. Northcoast Research reaffirmed a “neutral” rating on shares of Global Payments in a report on Tuesday, August 4th. Citigroup upped their target price on shares of Global Payments from $207.00 to $208.00 and gave the stock a “buy” rating in a report on Tuesday, August 4th. Royal Bank of Canada reaffirmed a “buy” rating on shares of Global Payments in a report on Tuesday, July 21st. Finally, Oppenheimer upped their target price on shares of Global Payments from $190.00 to $202.00 and gave the stock an “outperform” rating in a report on Monday, June 29th. Six investment analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the company’s stock. Global Payments presently has an average rating of “Buy” and an average target price of $200.06.
GPN stock traded up $3.40 during mid-day trading on Wednesday, reaching $176.55. The company had a trading volume of 20,935 shares, compared to its average volume of 2,124,559. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market capitalization of $51.81 billion, a PE ratio of 118.60, a price-to-earnings-growth ratio of 1.36 and a beta of 1.10. The firm has a 50 day moving average of $173.10 and a 200 day moving average of $167.73. Global Payments Inc has a 12 month low of $105.54 and a 12 month high of $209.62.
Global Payments (NYSE:GPN) last released its quarterly earnings data on Monday, August 3rd. The business services provider reported $1.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.27. Global Payments had a net margin of 5.68% and a return on equity of 5.61%. The firm had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.47 billion. During the same period last year, the firm earned $1.51 earnings per share. The company’s quarterly revenue was up 71.2% on a year-over-year basis. Analysts anticipate that Global Payments Inc will post 5.99 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th will be paid a dividend of $0.195 per share. The ex-dividend date is Wednesday, September 9th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.44%. Global Payments’s dividend payout ratio is presently 13.31%.
About Global Payments
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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