Abner Herrman & Brock LLC Purchases New Position in Global Payments Inc (NYSE:GPN)

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Abner Herrman & Brock LLC acquired a new stake in Global Payments Inc (NYSE:GPN) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 30,215 shares of the business services provider’s stock, valued at approximately $4,804,000.

A number of other large investors have also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD boosted its position in Global Payments by 7.2% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 20,699,119 shares of the business services provider’s stock valued at $3,314,531,000 after buying an additional 1,392,325 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Global Payments by 0.9% during the second quarter. Vanguard Group Inc. now owns 17,087,422 shares of the business services provider’s stock worth $2,736,209,000 after purchasing an additional 150,503 shares during the last quarter. BlackRock Inc. lifted its position in shares of Global Payments by 4.3% during the second quarter. BlackRock Inc. now owns 11,019,167 shares of the business services provider’s stock worth $1,764,501,000 after purchasing an additional 452,606 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Global Payments by 3.9% during the second quarter. Janus Henderson Group PLC now owns 4,609,039 shares of the business services provider’s stock worth $738,044,000 after purchasing an additional 171,217 shares during the last quarter. Finally, Northern Trust Corp lifted its position in shares of Global Payments by 4.4% during the second quarter. Northern Trust Corp now owns 1,882,683 shares of the business services provider’s stock worth $301,474,000 after purchasing an additional 78,630 shares during the last quarter. 97.07% of the stock is owned by institutional investors.

Several brokerages have recently commented on GPN. Oppenheimer increased their price target on shares of Global Payments from $161.00 to $178.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Deutsche Bank increased their price objective 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. Goldman Sachs Group reiterated a “buy” rating and set a $212.00 price objective on shares of Global Payments in a research note on Tuesday, September 24th. Barclays increased their price objective on shares of Global Payments from $180.00 to $195.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Finally, SunTrust Banks increased their price objective on shares of Global Payments from $190.00 to $210.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eighteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $172.47.

In other Global Payments news, Director Alan M. Silberstein sold 700 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $166.27, for a total value of $116,389.00. Following the transaction, the director now directly owns 38,063 shares in the company, valued at $6,328,735.01. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director William I. Jacobs sold 10,980 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $175.27, for a total transaction of $1,924,464.60. Following the completion of the transaction, the director now owns 40,568 shares in the company, valued at $7,110,353.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,410 shares of company stock worth $5,673,358. Company insiders own 0.88% of the company’s stock.

Shares of Global Payments stock traded up $2.84 during trading on Friday, hitting $163.98. 31,120 shares of the company’s stock traded hands, compared to its average volume of 2,978,749. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.01 and a quick ratio of 1.01. The firm’s fifty day moving average price is $163.03 and its 200 day moving average price is $155.35. Global Payments Inc has a twelve month low of $94.81 and a twelve month high of $175.95. The company has a market cap of $24.68 billion, a PE ratio of 31.59, a PEG ratio of 1.61 and a beta of 1.00.

Global Payments (NYSE:GPN) last issued its earnings results on Tuesday, July 30th. The business services provider reported $1.51 earnings per share for the quarter, beating the 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 analyst estimates of $1.11 billion. During the same period in the previous year, the business earned $1.29 EPS. The firm’s revenue was up 13.4% on a year-over-year basis. As a group, equities research analysts anticipate that Global Payments Inc will post 5.8 earnings per share for the current year.

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

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

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