JLB & Associates Inc. cut its holdings in shares of Global Payments Inc (NYSE:GPN) by 15.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 48,176 shares of the business services provider’s stock after selling 8,701 shares during the quarter. Global Payments accounts for approximately 1.6% of JLB & Associates Inc.’s holdings, making the stock its 29th biggest holding. JLB & Associates Inc.’s holdings in Global Payments were worth $8,555,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. San Francisco Sentry Investment Group CA lifted its stake in shares of Global Payments by 9.5% in the 3rd quarter. San Francisco Sentry Investment Group CA now owns 693 shares of the business services provider’s stock valued at $123,000 after acquiring an additional 60 shares during the last quarter. NEXT Financial Group Inc lifted its position in Global Payments by 3.9% in the second quarter. NEXT Financial Group Inc now owns 1,980 shares of the business services provider’s stock valued at $336,000 after purchasing an additional 74 shares during the last quarter. Profund Advisors LLC boosted its stake in shares of Global Payments by 2.1% during the second quarter. Profund Advisors LLC now owns 4,040 shares of the business services provider’s stock valued at $685,000 after purchasing an additional 83 shares during the period. CX Institutional grew its holdings in shares of Global Payments by 98.8% in the second quarter. CX Institutional now owns 169 shares of the business services provider’s stock worth $29,000 after purchasing an additional 84 shares during the last quarter. Finally, Great Lakes Advisors LLC increased its stake in shares of Global Payments by 1.4% in the second quarter. Great Lakes Advisors LLC now owns 7,199 shares of the business services provider’s stock worth $1,221,000 after buying an additional 96 shares during the period. Hedge funds and other institutional investors own 86.81% of the company’s stock.
In other news, Director William I. Jacobs sold 500 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $171.46, for a total transaction of $85,730.00. Following the sale, the director now owns 24,393 shares of the company’s stock, valued at approximately $4,182,423.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director William I. Jacobs sold 7,224 shares of Global Payments stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $174.90, for a total transaction of $1,263,477.60. Following the completion of the sale, the director now owns 32,117 shares of the company’s stock, valued at $5,617,263.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,224 shares of company stock worth $1,436,788. Company insiders own 0.88% of the company’s stock.
Global Payments (NYSE:GPN) last issued its earnings results on Monday, August 3rd. The business services provider reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.27. The firm had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.47 billion. Global Payments had a net margin of 5.68% and a return on equity of 5.61%. The business’s revenue was up 71.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.51 earnings per share. As a group, analysts anticipate that Global Payments Inc will post 5.96 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 24th. Investors of record on Thursday, September 10th were given a $0.195 dividend. The ex-dividend date of this dividend was Wednesday, September 9th. This represents a $0.78 annualized dividend and a yield of 0.44%. Global Payments’s dividend payout ratio (DPR) is presently 13.31%.
GPN has been the subject of several analyst reports. Mizuho began coverage on shares of Global Payments in a research report on Wednesday, August 26th. They set a “neutral” rating and a $165.00 price target for the company. Loop Capital initiated coverage on Global Payments in a research note on Tuesday, September 22nd. They issued a “buy” rating and a $199.00 target price on the stock. Barclays boosted their price target on Global Payments from $195.00 to $210.00 and gave the company an “overweight” rating in a report on Monday, September 21st. Goldman Sachs Group started coverage on Global Payments in a report on Tuesday, July 14th. They issued a “buy” rating and a $197.00 price objective for the company. Finally, Citigroup lifted their price objective on Global Payments from $207.00 to $208.00 and gave the stock a “buy” rating in a research report on Tuesday, August 4th. Six research analysts have rated the stock with a hold rating and thirty have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $201.59.
Global Payments Company Profile
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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