Latest Stocks: Global Payments Inc (GPN) Stake Raised by Xact Kapitalforvaltning AB

Latest Stocks: Global Payments Inc (GPN) Stake Raised by Xact Kapitalforvaltning AB

Xact Kapitalforvaltning AB raised its stake in Global Payments Inc (NYSE:GPN) by 9.1% during the first quarter, according to its most recent filing with the SEC. The fund owned 11,949 shares of the business services provider’s stock after buying an additional 996 shares during the period. Xact Kapitalforvaltning AB’s holdings in Global Payments were worth $964,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of GPN. Triangle Securities Wealth Management purchased a new stake in shares of Global Payments during the first quarter worth about $204,000. Bain Capital Public Equity Management LLC purchased a new stake in shares of Global Payments during the fourth quarter worth about $10,210,000. Stellar Capital Management LLC purchased a new stake in shares of Global Payments during the fourth quarter worth about $2,528,000. Advisory Research Inc. purchased a new stake in shares of Global Payments during the fourth quarter worth about $558,000. Finally, Raymond James Trust N.A. boosted its stake in shares of Global Payments by 12.6% in the first quarter. Raymond James Trust N.A. now owns 4,240 shares of the business services provider’s stock worth $342,000 after buying an additional 474 shares during the last quarter. 97.82% of the stock is currently owned by hedge funds and other institutional investors.

Global Payments Inc (NYSE:GPN) opened at 91.72 on Tuesday. The company has a market cap of $13.99 billion, a P/E ratio of 72.16 and a beta of 1.05. Global Payments Inc has a 52 week low of $64.63 and a 52 week high of $93.31. The company has a 50-day moving average of $86.50 and a 200 day moving average of $78.80.

Global Payments (NYSE:GPN) last released its earnings results on Thursday, May 4th. The business services provider reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.10. Global Payments had a net margin of 7.28% and a return on equity of 19.50%. The company had revenue of $919.76 million for the quarter, compared to analysts’ expectations of $767.09 million. During the same quarter last year, the business earned $0.64 EPS. The firm’s revenue was up 46.9% compared to the same quarter last year. On average, equities analysts forecast that Global Payments Inc will post $3.92 EPS for the current fiscal year. The company also recently announced a quarterly dividend, which will be paid on Friday, June 23rd. Shareholders of record on Friday, June 9th will be paid a dividend of $0.0133 per share. This is a boost from Global Payments’s previous quarterly dividend of $0.01. The ex-dividend date is Wednesday, June 7th. This represents a $0.05 dividend on an annualized basis and a yield of 0.06%. Global Payments’s dividend payout ratio (DPR) is presently 2.41%.

Global Payments (NYSE:GPN) last released its earnings results on Thursday, May 4th. The business services provider reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.10. Global Payments had a net margin of 7.28% and a return on equity of 19.50%. The company had revenue of $919.76 million for the quarter, compared to analysts’ expectations of $767.09 million. During the same quarter last year, the business earned $0.64 EPS. The firm’s revenue was up 46.9% compared to the same quarter last year. On average, equities analysts forecast that Global Payments Inc will post $3.92 EPS for the current fiscal year. A number of equities research analysts have recently issued reports on GPN shares. Royal Bank of Canada reaffirmed a “buy” rating and issued a $90.00 target price on shares of Global Payments in a report on Monday, May 15th. Atlantic Securities assumed coverage on shares of Global Payments in a research note on Wednesday, April 12th. They issued an “overweight” rating and a $91.00 price target on the stock. Instinet reiterated a “reduce” rating and issued a $79.00 price target (up previously from $70.00) on shares of Global Payments in a research note on Wednesday, May 17th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $93.00 price target on shares of Global Payments in a research note on Wednesday, March 15th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating on shares of Global Payments in a research note on Monday, May 15th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eighteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $87.57.

In other Global Payments news, Director Robert H. B. Baldwin, Jr. sold 50,000 shares of the stock in a transaction that occurred on Thursday, May 4th. The shares were sold at an average price of $85.00, for a total transaction of $4,250,000.00. Following the completion of the sale, the director now directly owns 267,552 shares of the company’s stock, valued at approximately $22,741,920. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Alan M. Silberstein sold 600 shares of the stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $88.09, for a total transaction of $52,854.00. Following the sale, the director now directly owns 49,093 shares of the company’s stock, valued at $4,324,602.37. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 57,100 shares of company stock worth $4,824,174. 1.10% of the stock is owned by company insiders. Global Payments Company Profile

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