North Star Asset Management Inc. Sells 1,331 Shares of Global Payments Inc. (GPN)

North Star Asset Management Inc. cut its position in Global Payments Inc. (NYSE:GPN) by 0.8% during the first quarter, Holdings Channel reports. The institutional investor owned 176,000 shares of the business services provider’s stock after selling 1,331 shares during the period. Global Payments accounts for approximately 1.5% of North Star Asset Management Inc.’s investment portfolio, making the stock its 13th largest position. North Star Asset Management Inc.’s holdings in Global Payments were worth $14,200,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Financial Architects Inc raised its stake in shares of Global Payments by 14.5% in the first quarter. Financial Architects Inc now owns 1,840 shares of the business services provider’s stock worth $149,000 after buying an additional 233 shares in the last quarter. Morgan Dempsey Capital Management LLC raised its stake in Global Payments by 86.6% in the first quarter. Morgan Dempsey Capital Management LLC now owns 2,004 shares of the business services provider’s stock valued at $162,000 after buying an additional 930 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. raised its stake in Global Payments by 84.8% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,033 shares of the business services provider’s stock valued at $164,000 after buying an additional 933 shares in the last quarter. WFG Advisors LP raised its stake in Global Payments by 262.4% in the fourth quarter. WFG Advisors LP now owns 2,464 shares of the business services provider’s stock valued at $161,000 after buying an additional 1,784 shares in the last quarter. Finally, Point72 Asia Hong Kong Ltd acquired a new stake in Global Payments during the first quarter valued at approximately $200,000. 98.92% of the stock is owned by institutional investors.

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

Shares of Global Payments Inc. (NYSE:GPN) traded up 0.86% on Friday, reaching $91.26. The company’s stock had a trading volume of 1,175,271 shares. The firm’s 50-day moving average price is $89.52 and its 200-day moving average price is $80.35. Global Payments Inc. has a 12 month low of $64.63 and a 12 month high of $93.52. The stock has a market cap of $13.92 billion, a P/E ratio of 71.80 and a beta of 1.06.

Global Payments (NYSE:GPN) last issued its quarterly earnings results on Thursday, May 4th. The business services provider reported $0.85 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.10. The firm had revenue of $919.76 million during the quarter, compared to the consensus estimate of $767.09 million. Global Payments had a return on equity of 17.38% and a net margin of 6.22%. The company’s revenue for the quarter was up 46.9% on a year-over-year basis. During the same quarter last year, the company posted $0.64 EPS. On average, analysts forecast that Global Payments Inc. will post $3.92 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 23rd. Stockholders of record on Friday, June 9th will be given a dividend of $0.0133 per share. This represents a $0.05 dividend on an annualized basis and a dividend yield of 0.06%. The ex-dividend date is Wednesday, June 7th. This is an increase from Global Payments’s previous quarterly dividend of $0.01. Global Payments’s dividend payout ratio (DPR) is 3.45%.

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GPN has been the topic of a number of recent analyst reports. Cantor Fitzgerald restated a “buy” rating and set a $97.00 price target (up previously from $93.00) on shares of Global Payments in a report on Monday, May 8th. Barclays PLC reissued a “buy” rating and issued a $96.00 target price on shares of Global Payments in a research report on Friday, May 5th. Keefe, Bruyette & Woods reissued a “buy” rating on shares of Global Payments in a research report on Friday, May 5th. Royal Bank Of Canada reissued a “buy” rating and issued a $90.00 target price on shares of Global Payments in a research report on Friday, May 5th. Finally, Stifel Nicolaus began coverage on shares of Global Payments in a report on Thursday, June 1st. They set a “buy” rating and a $102.00 price objective for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating and eighteen have given a buy rating to the company’s stock. Global Payments currently has an average rating of “Buy” and a consensus target price of $88.63.

In other news, Director Alan M. Silberstein sold 600 shares of Global Payments stock in a transaction dated Tuesday, April 18th. The stock was sold at an average price of $78.21, for a total transaction of $46,926.00. Following the completion of the sale, the director now owns 47,893 shares in the company, valued at approximately $3,745,711.53. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Ruth Ann Marshall sold 5,402 shares of Global Payments stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $92.26, for a total value of $498,388.52. Following the sale, the director now owns 41,476 shares of the company’s stock, valued at approximately $3,826,575.76. The disclosure for this sale can be found here. In the last quarter, insiders have sold 70,002 shares of company stock valued at $6,033,986. Corporate insiders own 0.93% of the company’s stock.

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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