Global Payments Inc. (GPN) Stake Lowered by Bank of America Corp DE

Bank of America Corp DE reduced its position in Global Payments Inc. (NYSE:GPN) by 4.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 973,138 shares of the business services provider’s stock after selling 43,971 shares during the period. Bank of America Corp DE owned 0.64% of Global Payments worth $78,513,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Global Payments by 0.4% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 8,811 shares of the business services provider’s stock worth $612,000 after buying an additional 37 shares in the last quarter. Wetherby Asset Management Inc. boosted its position in Global Payments by 0.4% in the first quarter. Wetherby Asset Management Inc. now owns 9,947 shares of the business services provider’s stock worth $802,000 after buying an additional 39 shares in the last quarter. Pacer Advisors Inc. boosted its position in Global Payments by 3.3% in the first quarter. Pacer Advisors Inc. now owns 2,732 shares of the business services provider’s stock worth $220,000 after buying an additional 88 shares in the last quarter. Advisor Partners LLC boosted its position in Global Payments by 4.0% in the first quarter. Advisor Partners LLC now owns 3,293 shares of the business services provider’s stock worth $266,000 after buying an additional 128 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. boosted its position in Global Payments by 4.7% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 4,099 shares of the business services provider’s stock worth $309,000 after buying an additional 185 shares in the last quarter. Institutional investors own 98.92% of the company’s stock.

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

Global Payments Inc. (NYSE GPN) traded up 0.22% during mid-day trading on Monday, hitting $89.75. The company had a trading volume of 655,163 shares. The stock has a market capitalization of $13.69 billion, a PE ratio of 70.61 and a beta of 1.06. Global Payments Inc. has a 1-year low of $64.63 and a 1-year high of $93.52. The stock has a 50 day moving average price of $89.07 and a 200-day moving average price of $79.87.

Global Payments (NYSE:GPN) last issued its quarterly earnings results on Thursday, May 4th. The business services provider reported $0.85 EPS for the quarter, beating the consensus estimate of $0.75 by $0.10. The company had revenue of $919.76 million for the quarter, compared to the consensus estimate of $767.09 million. Global Payments had a net margin of 6.22% and a return on equity of 17.38%. The firm’s revenue was up 46.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.64 EPS. On average, analysts forecast that Global Payments Inc. will post $3.92 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 23rd. Shareholders of record on Friday, June 9th will be paid a $0.0133 dividend. This is an increase from Global Payments’s previous quarterly dividend of $0.01. This represents a $0.05 dividend on an annualized basis and a yield of 0.06%. The ex-dividend date is Wednesday, June 7th. Global Payments’s dividend payout ratio is currently 3.45%.

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A number of research analysts recently commented on the company. BMO Capital Markets increased their target price on Global Payments from $91.00 to $93.00 and gave the company an “outperform” rating in a research note on Friday, May 5th. Keefe, Bruyette & Woods reissued a “buy” rating on shares of Global Payments in a research note on Monday, May 15th. Cantor Fitzgerald reissued a “buy” rating and issued a $97.00 target price (up previously from $93.00) on shares of Global Payments in a research note on Monday, May 8th. Royal Bank Of Canada reissued a “buy” rating and issued a $90.00 target price on shares of Global Payments in a research note on Monday, May 15th. Finally, Instinet reissued a “reduce” rating and issued a $79.00 target price (up previously from $70.00) on shares of Global Payments in a research note on Wednesday, May 17th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eighteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $88.63.

In other Global Payments news, Director William I. Jacobs sold 600 shares of the company’s stock in a transaction dated Thursday, April 13th. The shares were sold at an average price of $77.19, for a total value of $46,314.00. Following the transaction, the director now directly owns 40,811 shares in the company, valued at approximately $3,150,201.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert H. B. Baldwin, Jr. sold 7,500 shares of the company’s stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $93.19, for a total transaction of $698,925.00. Following the completion of the transaction, the director now owns 197,377 shares in the company, valued at $18,393,562.63. The disclosure for this sale can be found here. Insiders sold a total of 69,402 shares of company stock worth $5,980,040 over the last 90 days. Insiders own 0.93% of the company’s stock.

About Global Payments

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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