Ellevest Inc. reduces its equity position in Global Payments Inc. (NYSE:GPN)
Ellevest Inc. reduced its stake in Global Payments Inc. (NYSE: GPN – Get Rating) by 25.8% during the first quarter, reports Holdings Channel.com. The company held 847 shares of the business services provider after selling 294 shares during the quarter. Ellevest Inc.’s holdings in Global Payments were worth $116,000 when it last filed with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also changed their positions in the company. Fifth Third Bancorp increased its stake in Global Payments by 9.6% in the 1st quarter. Fifth Third Bancorp now owns 15,288 shares of the business services provider valued at $2,092,000 after buying an additional 1,336 shares last quarter. Polaris Wealth Advisory Group LLC increased its equity stake in Global Payments by 224.7% during Q1. Polaris Wealth Advisory Group LLC now owns 315,835 shares of the business services provider worth $42,515,000 after acquiring an additional 218,554 shares last quarter. IFM Investors Pty Ltd increased its equity stake in Global Payments by 16.0% during the 1st quarter. IFM Investors Pty Ltd now owns 44,041 shares of the business services provider worth $6,027,000 after acquiring an additional 6,070 shares in the last quarter. Concentric Wealth Management LLC increased its equity stake in Global Payments by 2.2% in Q1. Concentric Wealth Management LLC now owns 17,407 shares of the business services provider worth $2,382,000 after acquiring 367 additional shares in the last quarter. Finally, Frontier Capital Management Co. LLC increased its equity stake in Global Payments by 44.0% during the 1st quarter. Frontier Capital Management Co. LLC now owns 557,835 shares of the business services provider worth $76,334,000 after acquiring an additional 170,444 shares in the last quarter. 84.53% of the shares are currently held by institutional investors.
GPN stock opened at $110.93 on Friday. The company has a market capitalization of $31.23 billion, a price-earnings ratio of 31.79, a PEG ratio of 0.77 and a beta of 0.99. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt ratio of 0.46. The company has a fifty-day simple moving average of $122.22 and a 200-day simple moving average of $132.91. Global Payments Inc. has a 52-week low of $105.52 and a 52-week high of $196.88.
Global Payments (NYSE: GPN – Get Rating) last reported quarterly results on Monday, May 2. The business services provider reported earnings per share of $1.97 for the quarter, beating analyst consensus estimates of $1.92 by $0.05. Global Payments had a net margin of 11.66% and a return on equity of 8.79%. The company posted revenue of $2.16 billion in the quarter, compared to $1.95 billion expected by analysts. During the same period of the previous year, the company achieved EPS of $1.72. The company’s revenue increased 8.3% year over year. As a group, analysts expect Global Payments Inc. to post earnings per share of 9.09 for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, June 24. Investors of record on Friday, June 10 received a dividend of $0.25 per share. The ex-dividend date was Thursday, June 9. This represents a dividend of $1.00 on an annualized basis and a yield of 0.90%. Global Payments’ dividend payout ratio (DPR) is 28.65%.
Several equity research analysts have recently commented on the company. Wells Fargo & Company assumed coverage for Global Payments in a Monday, April 4, research note. They set an “overweight” rating and a price target of $194.00 for the stock. Goldman Sachs Group took over coverage of Global Payments in a research report on Tuesday, May 17. They set a “neutral” rating and a price target of $151.00 for the company. Barclays reduced its price target on Global Payments from $182.00 to $160.00 in a Tuesday May 3 research report. Robert W. Baird cut his price target on Global Payments from $192.00 to $144.00 and set an “outperform” rating for the company in a research report on Friday. Finally, Stephens assumed coverage of Global Payments in a Wednesday, April 6 research report. They set an “overweight” rating and a price target of $170.00 for the company. Five analysts gave the stock a hold rating and twenty-three gave the stock a buy rating. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $182.48.
In related news, Executive Vice President David Lawrence Green sold 16,252 shares of the company in a trade on Friday, June 3. The shares were sold at an average price of $130.10, for a total transaction of $2,114,385.20. Following the completion of the sale, the executive vice president now directly owns 97,818 shares of the company, valued at approximately $12,726,121.80. The sale was disclosed in a filing with the SEC, accessible via the SEC’s website. 1.19% of the shares are currently held by company insiders.
About Global Payments (Get a rating)
Global Payments Inc provides payment technology and software solutions for card, electronic, check and digital payments in the Americas, Europe and Asia-Pacific. It operates through three segments: Merchant Solutions, Issuer Solutions and Business and Consumer Solutions. The Merchant Solutions segment offers authorization services, settlement and financing services, customer support and assistance functions, chargeback resolution, terminal rental, sales and deployment, security services of payments, consolidated billing and statements, and online reporting services.
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