Pacer Advisors Inc. Has $1.83 Million Stake in Global Payments Inc (GPN)

Share on StockTwits

Pacer Advisors Inc. raised its stake in Global Payments Inc (NYSE:GPN) by 16,237.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,397 shares of the business services provider’s stock after purchasing an additional 13,315 shares during the quarter. Pacer Advisors Inc.’s holdings in Global Payments were worth $1,829,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of GPN. JPMorgan Chase & Co. raised its stake in shares of Global Payments by 14.7% in the third quarter. JPMorgan Chase & Co. now owns 4,520,530 shares of the business services provider’s stock worth $575,914,000 after purchasing an additional 581,025 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Global Payments by 4.8% in the third quarter. Bank of New York Mellon Corp now owns 1,128,906 shares of the business services provider’s stock valued at $143,822,000 after acquiring an additional 51,524 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Global Payments by 116.7% in the third quarter. Renaissance Technologies LLC now owns 220,245 shares of the business services provider’s stock valued at $28,059,000 after acquiring an additional 118,600 shares in the last quarter. First Republic Investment Management Inc. grew its holdings in shares of Global Payments by 60.6% in the third quarter. First Republic Investment Management Inc. now owns 12,975 shares of the business services provider’s stock valued at $1,653,000 after acquiring an additional 4,896 shares in the last quarter. Finally, LPL Financial LLC grew its holdings in shares of Global Payments by 11.4% in the third quarter. LPL Financial LLC now owns 19,206 shares of the business services provider’s stock valued at $2,447,000 after acquiring an additional 1,969 shares in the last quarter. 98.80% of the stock is owned by hedge funds and other institutional investors.

In other Global Payments news, Director Robert H. B. Baldwin, Jr. sold 3,500 shares of the stock in a transaction on Thursday, February 14th. The stock was sold at an average price of $121.49, for a total transaction of $425,215.00. Following the completion of the transaction, the director now directly owns 68,817 shares of the company’s stock, valued at $8,360,577.33. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jeffrey Steven Sloan sold 167,545 shares of the stock in a transaction on Friday, March 8th. The shares were sold at an average price of $129.59, for a total value of $21,712,156.55. Following the transaction, the chief executive officer now directly owns 579,207 shares of the company’s stock, valued at $75,059,435.13. The disclosure for this sale can be found here. Over the last three months, insiders have sold 209,629 shares of company stock valued at $27,209,312. 0.88% of the stock is owned by corporate insiders.

Several equities analysts have recently issued reports on GPN shares. Mizuho upped their target price on Global Payments to $136.00 and gave the company a “buy” rating in a report on Thursday, February 14th. Nomura upped their target price on Global Payments from $91.00 to $94.00 and gave the company a “reduce” rating in a report on Monday, February 11th. Jefferies Financial Group started coverage on Global Payments in a report on Thursday, February 28th. They issued a “buy” rating and a $150.00 target price for the company. reaffirmed an “outperform” rating and issued a $143.00 target price (up from $130.00) on shares of Global Payments in a report on Thursday, February 14th. Finally, Atlantic Securities lowered Global Payments from an “overweight” rating to a “neutral” rating and set a $133.36 target price for the company. in a report on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $134.67.

Shares of NYSE GPN opened at $139.14 on Monday. Global Payments Inc has a 1-year low of $94.81 and a 1-year high of $139.40. The firm has a market cap of $21.64 billion, a price-to-earnings ratio of 26.81, a PEG ratio of 1.35 and a beta of 1.20. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.03 and a quick ratio of 1.03.

Global Payments (NYSE:GPN) last announced its quarterly earnings data on Wednesday, February 13th. The business services provider reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.08. Global Payments had a return on equity of 19.11% and a net margin of 13.43%. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period in the prior year, the company earned $1.07 earnings per share. Global Payments’s revenue was up 12.3% compared to the same quarter last year. Analysts anticipate that Global Payments Inc will post 5.72 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend was Thursday, March 14th. Global Payments’s dividend payout ratio (DPR) is 0.77%.

TRADEMARK VIOLATION WARNING: This story was posted by Week Herald and is owned by of Week Herald. If you are reading this story on another publication, it was copied illegally and reposted in violation of US and international copyright legislation. The legal version of this story can be read at https://weekherald.com/2019/04/15/pacer-advisors-inc-has-1-83-million-stake-in-global-payments-inc-gpn.html.

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.

Recommended Story: Why is the price-sales ratio important?

Want to see what other hedge funds are holding GPN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Global Payments Inc (NYSE:GPN).

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

Receive News & Ratings for Global Payments Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Global Payments and related companies with MarketBeat.com's FREE daily email newsletter.