New Mexico Educational Retirement Board lifted its position in shares of Global Payments Inc (NYSE:GPN) by 3.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 14,700 shares of the business services provider’s stock after purchasing an additional 500 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Global Payments were worth $1,474,000 as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. Russell Investments Group Ltd. grew its holdings in shares of Global Payments by 3.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 58,410 shares of the business services provider’s stock worth $5,551,000 after purchasing an additional 2,081 shares during the period. Wells Fargo & Company MN grew its holdings in shares of Global Payments by 9.3% during the 3rd 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. Chevy Chase Trust Holdings Inc. boosted its holdings in Global Payments by 3.7% in the 4th quarter. Chevy Chase Trust Holdings Inc. now owns 138,142 shares of the business services provider’s stock worth $13,847,000 after acquiring an additional 4,870 shares during the period. Daiwa Securities Group Inc. boosted its holdings in Global Payments by 70.6% in the 4th quarter. Daiwa Securities Group Inc. now owns 113,125 shares of the business services provider’s stock worth $11,339,000 after acquiring an additional 46,813 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Global Payments by 9.5% in the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,401 shares of the business services provider’s stock worth $1,178,000 after acquiring an additional 1,072 shares during the period. Institutional investors and hedge funds own 96.68% of the company’s stock.
In related news, Director William I. Jacobs sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $103.62, for a total transaction of $62,172.00. Following the sale, the director now directly owns 37,675 shares of the company’s stock, valued at approximately $3,903,883.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last three months, insiders have sold 3,600 shares of company stock worth $389,622. Corporate insiders own 0.93% of the company’s stock.
Global Payments (NYSE:GPN) last posted its quarterly earnings results on Thursday, February 15th. The business services provider reported $1.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.01. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $943.39 million. Global Payments had a return on equity of 17.94% and a net margin of 11.78%. The business’s revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.89 EPS. equities research analysts forecast that Global Payments Inc will post 4.85 earnings per share for the current fiscal year.
Global Payments announced that its Board of Directors has authorized a stock buyback program on Thursday, February 15th that authorizes the company to repurchase $600.00 million in outstanding shares. This repurchase authorization authorizes the business services provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Friday, March 16th will be given 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 is Thursday, March 15th. Global Payments’s dividend payout ratio is currently 2.01%.
A number of research firms have weighed in on GPN. Deutsche Bank upped their price target on Global Payments and gave the stock a “buy” rating in a report on Friday, February 16th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $122.00 price target on shares of Global Payments in a report on Friday, December 22nd. KeyCorp restated an “overweight” rating and issued a $125.00 price target (up previously from $120.00) on shares of Global Payments in a report on Friday, March 2nd. Stephens restated a “buy” rating and issued a $125.00 price target on shares of Global Payments in a report on Tuesday, February 27th. Finally, Piper Jaffray Companies upgraded Global Payments from a “neutral” rating to an “overweight” rating in a research note on Friday, March 2nd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and twenty-three have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $109.40.
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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