Icon Advisers Inc. Co. acquired a new stake in Global Payments Inc (NYSE:GPN) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 19,200 shares of the business services provider’s stock, valued at approximately $3,074,000.
A number of other institutional investors have also made changes to their positions in GPN. Dimensional Fund Advisors LP grew its position in shares of Global Payments by 2.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 749,934 shares of the business services provider’s stock valued at $77,341,000 after acquiring an additional 19,347 shares during the period. Geode Capital Management LLC lifted its stake in shares of Global Payments by 7.0% during the 4th quarter. Geode Capital Management LLC now owns 1,969,663 shares of the business services provider’s stock worth $202,756,000 after buying an additional 128,466 shares during the last quarter. Retirement Systems of Alabama lifted its stake in shares of Global Payments by 0.6% during the 1st quarter. Retirement Systems of Alabama now owns 73,388 shares of the business services provider’s stock worth $10,019,000 after buying an additional 439 shares during the last quarter. Raymond James Trust N.A. acquired a new stake in shares of Global Payments during the 1st quarter worth about $229,000. Finally, Flagship Harbor Advisors LLC lifted its stake in shares of Global Payments by 14.5% during the 1st quarter. Flagship Harbor Advisors LLC now owns 2,084 shares of the business services provider’s stock worth $284,000 after buying an additional 264 shares during the last quarter. 98.22% of the stock is currently owned by institutional investors.
In other Global Payments news, Director Ruth Ann Marshall sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $160.24, for a total transaction of $801,200.00. Following the sale, the director now directly owns 43,677 shares of the company’s stock, valued at approximately $6,998,802.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Alan M. Silberstein sold 700 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $157.95, for a total transaction of $110,565.00. Following the sale, the director now directly owns 40,163 shares in the company, valued at $6,343,745.85. The disclosure for this sale can be found here. Insiders have sold a total of 6,300 shares of company stock worth $1,010,795 over the last ninety days. 0.88% of the stock is currently owned by insiders.
Global Payments (NYSE:GPN) last issued its earnings results on Tuesday, July 30th. The business services provider reported $1.51 EPS for the quarter, beating the consensus estimate of $1.46 by $0.05. The company had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.11 billion. Global Payments had a net margin of 13.62% and a return on equity of 20.36%. The business’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.29 EPS. Research analysts expect that Global Payments Inc will post 5.82 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend is Thursday, September 12th. Global Payments’s dividend payout ratio (DPR) is presently 0.77%.
GPN has been the subject of a number of research reports. Deutsche Bank raised their target price on shares of Global Payments from $162.00 to $182.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Robert W. Baird raised their target price on shares of Global Payments from $174.00 to $182.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 9th. Susquehanna Bancshares set a $200.00 target price on shares of Global Payments and gave the stock a “buy” rating in a research note on Friday, July 26th. KeyCorp lifted their price objective on shares of Global Payments from $135.00 to $155.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 30th. Finally, Piper Jaffray Companies set a $195.00 price objective on shares of Global Payments and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nineteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $164.74.
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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