Gateway Investment Advisers LLC Sells 423 Shares of Global Payments Inc (NYSE:GPN)

Gateway Investment Advisers LLC lessened its holdings in Global Payments Inc (NYSE:GPN) by 5.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,837 shares of the business services provider’s stock after selling 423 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Global Payments were worth $1,095,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Lenox Wealth Advisors LLC acquired a new stake in Global Payments in the 2nd quarter valued at $25,000. Cornerstone Advisors Inc. lifted its stake in Global Payments by 114.9% during the 1st quarter. Cornerstone Advisors Inc. now owns 202 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 108 shares in the last quarter. Berman Capital Advisors LLC lifted its stake in Global Payments by 317.5% during the 1st quarter. Berman Capital Advisors LLC now owns 238 shares of the business services provider’s stock valued at $32,000 after acquiring an additional 181 shares in the last quarter. Lindbrook Capital LLC lifted its stake in Global Payments by 171.2% during the 1st quarter. Lindbrook Capital LLC now owns 320 shares of the business services provider’s stock valued at $43,000 after acquiring an additional 202 shares in the last quarter. Finally, Legacy Advisors LLC bought a new position in Global Payments during the 1st quarter valued at $44,000. Institutional investors and hedge funds own 98.22% of the company’s stock.

Shares of GPN stock opened at $156.33 on Friday. Global Payments Inc has a 12-month low of $94.81 and a 12-month high of $172.20. The company has a market capitalization of $24.88 billion, a P/E ratio of 30.12, a P/E/G ratio of 1.62 and a beta of 1.01. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.20. The firm has a 50-day moving average price of $162.70 and a 200 day moving average price of $145.59.

Global Payments (NYSE:GPN) last issued its quarterly earnings results on Tuesday, July 30th. The business services provider reported $1.51 EPS for the quarter, topping the consensus estimate of $1.46 by $0.05. The company had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.11 billion. Global Payments had a net margin of 13.62% and a return on equity of 20.36%. Global Payments’s revenue was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.29 EPS. As a group, research analysts expect that Global Payments Inc will post 5.82 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend is Thursday, September 12th. Global Payments’s dividend payout ratio is currently 0.77%.

Several brokerages have weighed in on GPN. BMO Capital Markets cut Global Payments from an “outperform” rating to a “market perform” rating and raised their price objective for the company from $164.00 to $173.00 in a research note on Wednesday, May 29th. Piper Jaffray Companies set a $195.00 target price on Global Payments and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Barclays lifted their target price on Global Payments from $180.00 to $195.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Zacks Investment Research upgraded Global Payments from a “sell” rating to a “hold” rating and set a $163.00 target price on the stock in a research note on Tuesday, May 7th. Finally, Bank of America boosted their price objective on Global Payments from $160.00 to $180.00 and gave the company a “buy” rating in a research note on Monday, June 17th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nineteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $164.74.

In other news, Director William I. Jacobs sold 600 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $165.05, for a total value of $99,030.00. Following the completion of the transaction, the director now owns 30,188 shares in the company, valued at $4,982,529.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ruth Ann Marshall sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $160.24, for a total transaction of $801,200.00. Following the completion of the transaction, the director now owns 43,677 shares of the company’s stock, valued at approximately $6,998,802.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,300 shares of company stock valued at $1,010,795. Corporate insiders own 0.88% of the company’s stock.

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

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