Usca Ria LLC lifted its holdings in Global Payments (NYSE:GPN) by 33.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,000 shares of the business services provider’s stock after purchasing an additional 750 shares during the period. Usca Ria LLC’s holdings in Global Payments were worth $335,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Gulf International Bank UK Ltd grew its stake in shares of Global Payments by 3.2% in the 1st quarter. Gulf International Bank UK Ltd now owns 49,071 shares of the business services provider’s stock worth $5,472,000 after purchasing an additional 1,500 shares during the last quarter. Teacher Retirement System of Texas increased its position in shares of Global Payments by 47.7% in the first quarter. Teacher Retirement System of Texas now owns 61,012 shares of the business services provider’s stock worth $6,804,000 after acquiring an additional 19,704 shares in the last quarter. Fagan Associates Inc. purchased a new position in shares of Global Payments in the first quarter worth approximately $771,000. State Treasurer State of Michigan increased its position in shares of Global Payments by 0.9% in the first quarter. State Treasurer State of Michigan now owns 68,764 shares of the business services provider’s stock worth $7,669,000 after acquiring an additional 600 shares in the last quarter. Finally, Stevens Capital Management LP purchased a new position in shares of Global Payments in the first quarter worth approximately $7,724,000. 96.38% of the stock is currently owned by institutional investors.
Shares of Global Payments opened at $113.76 on Monday, Marketbeat Ratings reports. Global Payments has a 1 year low of $87.30 and a 1 year high of $118.94. The firm has a market cap of $18.15 billion, a P/E ratio of 28.37, a P/E/G ratio of 1.36 and a beta of 1.13. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.06 and a current ratio of 1.06.
Global Payments announced that its board has authorized a stock buyback program on Thursday, February 15th that permits the company to repurchase $600.00 million in outstanding shares. This repurchase authorization permits the business services provider to buy shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 15th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.04%. The ex-dividend date of this dividend is Thursday, June 14th. Global Payments’s dividend payout ratio (DPR) is presently 1.00%.
In other Global Payments news, Director Alan M. Silberstein sold 5,300 shares of the business’s stock in a transaction on Friday, March 16th. The shares were sold at an average price of $118.20, for a total value of $626,460.00. Following the sale, the director now owns 46,497 shares of the company’s stock, valued at approximately $5,495,945.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Alan M. Silberstein sold 600 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $114.34, for a total transaction of $68,604.00. Following the completion of the sale, the director now directly owns 43,693 shares in the company, valued at approximately $4,995,857.62. The disclosure for this sale can be found here. Insiders sold a total of 22,648 shares of company stock worth $2,634,634 in the last three months. Insiders own 0.98% of the company’s stock.
Several research analysts have recently weighed in on GPN shares. BMO Capital Markets reissued a “buy” rating and issued a $135.00 target price on shares of Global Payments in a research report on Friday, February 16th. TheStreet downgraded shares of Global Payments from a “b” rating to a “c” rating in a research report on Thursday, May 3rd. Robert W. Baird reissued a “buy” rating and issued a $124.00 target price on shares of Global Payments in a research report on Tuesday, January 23rd. SunTrust Banks boosted their price objective on shares of Global Payments to $145.00 and gave the company a “buy” rating in a research report on Friday, March 2nd. Finally, Piper Jaffray Companies raised shares of Global Payments from a “neutral” rating to an “overweight” rating in a research report on Friday, March 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating and twenty-two have issued a buy rating to the stock. Global Payments presently has a consensus rating of “Buy” and a consensus price target of $112.21.
Global Payments Company Profile
Global Payments Inc provides payment technology and software solutions for credit cards, debit cards, electronic payments, and check-related services. 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, online reporting, industry compliance, and payment card industry security services.
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