Alkeon Capital Management LLC lifted its stake in Global Payments Inc (NYSE:GPN) by 10.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,322,766 shares of the business services provider’s stock after acquiring an additional 122,755 shares during the quarter. Alkeon Capital Management LLC owned approximately 0.83% of Global Payments worth $132,594,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in GPN. Nationwide Fund Advisors increased its position in shares of Global Payments by 0.7% in the third quarter. Nationwide Fund Advisors now owns 261,387 shares of the business services provider’s stock valued at $24,840,000 after acquiring an additional 1,815 shares during the last quarter. DekaBank Deutsche Girozentrale increased its position in shares of Global Payments by 93.8% in the third quarter. DekaBank Deutsche Girozentrale now owns 17,459 shares of the business services provider’s stock valued at $1,806,000 after acquiring an additional 8,450 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Global Payments by 3.7% in the third quarter. Russell Investments Group Ltd. now owns 58,410 shares of the business services provider’s stock valued at $5,551,000 after acquiring an additional 2,081 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of Global Payments in the third quarter valued at about $198,000. Finally, Cipher Capital LP increased its position in Global Payments by 19.9% during the third quarter. Cipher Capital LP now owns 8,283 shares of the business services provider’s stock worth $787,000 after buying an additional 1,376 shares during the last quarter. 96.67% of the stock is currently owned by institutional investors and hedge funds.
Shares of GPN stock opened at $117.70 on Wednesday. Global Payments Inc has a 1-year low of $76.47 and a 1-year high of $118.94. The stock has a market capitalization of $18,787.89, a P/E ratio of 39.50, a PEG ratio of 1.54 and a beta of 1.09. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.15.
Global Payments (NYSE:GPN) last issued its quarterly earnings data on Thursday, February 15th. The business services provider reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. Global Payments had a return on equity of 17.94% and a net margin of 11.78%. The company had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $943.39 million. During the same quarter in the previous year, the company posted $0.89 earnings per share. The business’s revenue was up 11.0% on a year-over-year basis. equities research analysts expect that Global Payments Inc will post 4.85 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Friday, March 16th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend is Thursday, March 15th. Global Payments’s dividend payout ratio (DPR) is currently 1.34%.
Global Payments announced that its Board of Directors has initiated a stock repurchase plan on Thursday, February 15th that authorizes the company to repurchase $600.00 million in shares. This repurchase authorization authorizes the business services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
GPN has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods reissued a “buy” rating and set a $122.00 price target on shares of Global Payments in a research report on Friday, December 22nd. Citigroup boosted their price target on Global Payments from $122.00 to $125.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. SunTrust Banks reissued a “buy” rating and set a $130.00 price target on shares of Global Payments in a research report on Friday, February 16th. Deutsche Bank boosted their price target on Global Payments and gave the stock a “buy” rating in a research report on Friday, February 16th. Finally, BMO Capital Markets reissued a “buy” rating and set a $135.00 price target on shares of Global Payments in a research report on Friday, February 16th. Two analysts have rated the stock with a sell rating, four have given a hold rating and twenty-three have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $109.40.
In related news, Director Alan M. Silberstein sold 5,300 shares of the business’s stock in a transaction that occurred on Friday, March 16th. The stock was sold at an average price of $118.20, for a total value of $626,460.00. Following the completion of the sale, the director now directly owns 46,497 shares in the company, valued at $5,495,945.40. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Alan M. Silberstein sold 600 shares of the business’s stock in a transaction that occurred on Thursday, January 18th. The shares were sold at an average price of $106.05, for a total value of $63,630.00. Following the completion of the sale, the director now owns 44,293 shares of the company’s stock, valued at $4,697,272.65. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,200 shares of company stock valued at $1,652,237. 0.93% of the stock is currently owned by corporate insiders.
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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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