Oribel Capital Management LP acquired a new position in shares of Global Payments Inc (NYSE:GPN) during the 1st quarter, HoldingsChannel.com reports. The firm acquired 20,200 shares of the business services provider’s stock, valued at approximately $2,758,000.
A number of other hedge funds have also recently bought and sold shares of GPN. Lunia Capital LP bought a new position in Global Payments during the 4th quarter worth $18,742,000. Norges Bank bought a new position in Global Payments during the 4th quarter worth $131,343,000. Boston Partners bought a new position in Global Payments during the 4th quarter worth $122,196,000. Coho Partners Ltd. bought a new position in Global Payments during the 1st quarter worth $118,168,000. Finally, Massachusetts Financial Services Co. MA increased its position in Global Payments by 9.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,447,043 shares of the business services provider’s stock worth $561,752,000 after buying an additional 449,751 shares during the period. Hedge funds and other institutional investors own 97.47% of the company’s stock.
In other Global Payments news, Director Robert H. B. Baldwin, Jr. sold 4,250 shares of Global Payments stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $146.36, for a total value of $622,030.00. Following the transaction, the director now owns 48,382 shares in the company, valued at $7,081,189.52. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Alan M. Silberstein sold 700 shares of Global Payments stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $138.96, for a total value of $97,272.00. Following the completion of the transaction, the director now owns 40,355 shares in the company, valued at approximately $5,607,730.80. The disclosure for this sale can be found here. 0.88% of the stock is currently owned by company insiders.
Global Payments (NYSE:GPN) last issued its quarterly earnings results on Thursday, May 2nd. The business services provider reported $1.34 EPS for the quarter, topping the Zacks’ consensus estimate of $1.22 by $0.12. Global Payments had a return on equity of 19.83% and a net margin of 13.69%. The company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter last year, the business earned $1.13 earnings per share. Global Payments’s revenue was up 12.8% on a year-over-year basis. Equities research analysts forecast that Global Payments Inc will post 5.81 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date is Thursday, June 13th. Global Payments’s payout ratio is currently 0.77%.
GPN has been the topic of several recent research reports. Robert W. Baird increased their price objective on Global Payments from $160.00 to $174.00 and gave the stock an “outperform” rating in a research report on Thursday, May 30th. SunTrust Banks increased their price objective on Global Payments to $155.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. TheStreet upgraded Global Payments from a “c” rating to a “b-” rating in a research report on Wednesday, February 13th. Zacks Investment Research cut Global Payments from a “buy” rating to a “hold” rating in a research report on Tuesday, April 16th. Finally, Jefferies Financial Group initiated coverage on Global Payments in a research report on Thursday, February 28th. They set a “buy” rating and a $150.00 price objective on the stock. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $146.31.
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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