Hennessy Advisors Inc. Cuts Stock Position in Global Payments Inc. (NYSE:GPN)


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Hennessy Advisors Inc. reduced its position in Global Payments Inc. (NYSE:GPN) by 1.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,000 shares of the business services provider’s stock after selling 200 shares during the quarter. Hennessy Advisors Inc.’s holdings in Global Payments were worth $2,621,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Gyroscope Capital Management Group LLC lifted its stake in shares of Global Payments by 24.9% in the 1st quarter. Gyroscope Capital Management Group LLC now owns 5,931 shares of the business services provider’s stock valued at $1,195,000 after acquiring an additional 1,184 shares during the last quarter. NEXT Financial Group Inc lifted its stake in shares of Global Payments by 3.8% in the 1st quarter. NEXT Financial Group Inc now owns 2,489 shares of the business services provider’s stock valued at $502,000 after acquiring an additional 92 shares during the last quarter. Vigilant Capital Management LLC lifted its stake in shares of Global Payments by 3.7% in the 1st quarter. Vigilant Capital Management LLC now owns 101,211 shares of the business services provider’s stock valued at $20,402,000 after acquiring an additional 3,650 shares during the last quarter. Salem Capital Management Inc. bought a new stake in shares of Global Payments in the 1st quarter valued at about $395,000. Finally, CX Institutional lifted its stake in shares of Global Payments by 33.6% in the 1st quarter. CX Institutional now owns 473 shares of the business services provider’s stock valued at $95,000 after acquiring an additional 119 shares during the last quarter. Hedge funds and other institutional investors own 86.71% of the company’s stock.

A number of research analysts have commented on the company. Morgan Stanley upped their price target on Global Payments from $197.00 to $209.00 and gave the company an “equal weight” rating in a research report on Thursday. Susquehanna Bancshares raised their price objective on Global Payments from $220.00 to $239.00 and gave the company a “positive” rating in a research report on Tuesday, February 9th. Rosenblatt Securities lifted their price target on Global Payments from $235.00 to $238.00 and gave the stock a “buy” rating in a research report on Tuesday. Susquehanna lifted their price target on Global Payments from $220.00 to $239.00 and gave the stock a “positive” rating in a research report on Tuesday, February 9th. Finally, Sanford C. Bernstein reiterated an “outperform” rating and issued a $214.00 price target on shares of Global Payments in a research report on Wednesday, January 27th. Five equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $212.14.

In other Global Payments news, Director William I. Jacobs sold 500 shares of the company’s stock in a transaction on Tuesday, February 16th. The shares were sold at an average price of $198.07, for a total value of $99,035.00. Following the sale, the director now directly owns 21,893 shares of the company’s stock, valued at $4,336,346.51. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director M Troy Woods sold 75,727 shares of the company’s stock in a transaction dated Tuesday, February 23rd. The stock was sold at an average price of $194.65, for a total transaction of $14,740,260.55. Over the last ninety days, insiders sold 117,645 shares of company stock worth $23,231,757. 0.88% of the stock is owned by corporate insiders.

Shares of GPN opened at $216.18 on Friday. The firm has a market capitalization of $63.79 billion, a PE ratio of 128.68, a price-to-earnings-growth ratio of 1.81 and a beta of 1.16. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.13 and a quick ratio of 1.13. Global Payments Inc. has a 1-year low of $146.93 and a 1-year high of $220.25. The company’s fifty day moving average price is $208.97 and its 200-day moving average price is $195.35.

Global Payments (NYSE:GPN) last announced its quarterly earnings data on Sunday, February 7th. The business services provider reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.04. Global Payments had a net margin of 6.75% and a return on equity of 6.46%. The firm had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same period in the previous year, the company earned $1.62 earnings per share. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. As a group, research analysts anticipate that Global Payments Inc. will post 6.01 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, March 26th. Shareholders of record on Friday, March 12th were issued a $0.195 dividend. This represents a $0.78 annualized dividend and a yield of 0.36%. The ex-dividend date was Thursday, March 11th. Global Payments’s payout ratio is 13.31%.

Global Payments declared that its Board of Directors has authorized a share repurchase program on Monday, February 8th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the business services provider to buy up to 2.5% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

About Global Payments

Global Payments Inc provides payment technology and software solutions for card, electronic, check, and digital-based payments in the Americas, Europe, and the Asia-Pacific. The company operates through three segments: Merchant Solutions, Issuer Solutions, and Business and Consumer Solutions. The Merchant Solutions segment 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 on-line reporting services.

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

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