Trading Report: The Copper Rock Capital Partners LLC Boosts Position in Global Payments Inc. (GPN)

The Copper Rock Capital Partners LLC Boosts Position in Global Payments Inc. (GPN)

Copper Rock Capital Partners LLC raised its stake in Global Payments Inc. (NYSE:GPN) by 10.0% during the third quarter, Holdings Channel reports. The institutional investor owned 8,649 shares of the company’s stock after buying an additional 783 shares during the period. Copper Rock Capital Partners LLC’s holdings in Global Payments were worth $658,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Acrospire Investment Management LLC increased its position in Global Payments by 77.8% in the second quarter. Acrospire Investment Management LLC now owns 1,600 shares of the company’s stock valued at $114,000 after buying an additional 700 shares during the period. Financial Architects Inc increased its position in Global Payments by 1,305.2% in the second quarter. Financial Architects Inc now owns 1,616 shares of the company’s stock valued at $115,000 after buying an additional 1,501 shares during the period. PineBridge Investments L.P. purchased a new position in Global Payments during the second quarter valued at $139,000. IFP Advisors Inc increased its position in Global Payments by 39.1% in the second quarter. IFP Advisors Inc now owns 2,263 shares of the company’s stock valued at $162,000 after buying an additional 636 shares during the period. Finally, Mizuho Asset Management Co. Ltd. purchased a new position in Global Payments during the second quarter valued at $168,000. 96.56% of the stock is currently owned by institutional investors.

Global Payments Inc. (NYSE:GPN) opened at 76.01 on Friday. The stock has a 50 day moving average of $75.90 and a 200-day moving average of $74.02. The firm has a market cap of $11.68 billion, a PE ratio of 37.26 and a beta of 1.09. Global Payments Inc. has a 52 week low of $51.29 and a 52 week high of $79.93.

Global Payments (NYSE:GPN) last released its earnings results on Wednesday, October 5th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.03. Global Payments had a net margin of 8.74% and a return on equity of 22.33%. The business earned $939.50 million during the quarter. During the same period in the prior year, the business posted $0.79 earnings per share. Global Payments’s quarterly revenue was up 52.2% compared to the same quarter last year. Analysts expect that Global Payments Inc. will post $3.48 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 25th. Investors of record on Friday, November 11th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Tuesday, November 8th. This represents a $0.04 annualized dividend and a dividend yield of 0.05%. Global Payments’s dividend payout ratio is presently 2.06%.

Several research analysts have recently weighed in on the stock. Barclays PLC lifted their target price on shares of Global Payments from $75.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Friday, September 30th. Nomura lifted their target price on shares of Global Payments from $64.00 to $66.00 in a research report on Friday, July 29th. Oppenheimer Holdings Inc. restated an “outperform” rating and set a $85.00 price target on shares of Global Payments in a report on Wednesday, September 28th. Zacks Investment Research upgraded shares of Global Payments from a “hold” rating to a “buy” rating and set a $79.00 price target for the company in a report on Wednesday, June 29th. Finally, Robert W. Baird restated an “outperform” rating and set a $85.00 price target on shares of Global Payments in a report on Tuesday, September 6th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eighteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $77.92.

In related news, Director William I. Jacobs sold 600 shares of the firm’s stock in a transaction on Wednesday, July 13th. The shares were sold at an average price of $75.80, for a total value of $45,480.00. Following the completion of the transaction, the director now directly owns 44,716 shares of the company’s stock, valued at $3,389,472.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robert H. B. Baldwin, Jr. sold 6,500 shares of the firm’s stock in a transaction on Monday, July 18th. The shares were sold at an average price of $76.61, for a total transaction of $497,965.00. Following the completion of the transaction, the director now directly owns 362,063 shares of the company’s stock, valued at $27,737,646.43. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by corporate insiders.

Global Payments Company Profile

Global Payments Inc is a provider of payment technology services. The Company provides payment and digital commerce solutions. The Company operates in two segments: North America merchant services and International merchant services. The Company’s North America merchant services and International merchant services segments primarily provide payment solutions for credit cards, debit cards, electronic payments and check-related services.

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