Voya Investment Management LLC grew its position in shares of Global Payments Inc (NYSE:GPN) by 926.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 901,012 shares of the business services provider’s stock after purchasing an additional 813,204 shares during the quarter. Voya Investment Management LLC owned 0.30% of Global Payments worth $143,261,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of the company. Amundi Pioneer Asset Management Inc. boosted its stake in shares of Global Payments by 48.0% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 111,641 shares of the business services provider’s stock worth $15,241,000 after acquiring an additional 36,216 shares in the last quarter. Clark Capital Management Group Inc. bought a new stake in shares of Global Payments during the 2nd quarter worth $16,973,000. Fagan Associates Inc. boosted its stake in shares of Global Payments by 1.6% during the 2nd quarter. Fagan Associates Inc. now owns 9,315 shares of the business services provider’s stock worth $1,492,000 after acquiring an additional 150 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in shares of Global Payments by 139.1% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 39,355 shares of the business services provider’s stock worth $6,302,000 after acquiring an additional 22,898 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its stake in shares of Global Payments by 7.5% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 227,584 shares of the business services provider’s stock worth $36,445,000 after acquiring an additional 15,924 shares in the last quarter. Institutional investors own 87.90% of the company’s stock.
In related news, Director Joia M. Johnson bought 560 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were bought at an average cost of $178.45 per share, for a total transaction of $99,932.00. Following the completion of the acquisition, the director now directly owns 2,347 shares in the company, valued at $418,822.15. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director William I. Jacobs sold 10,980 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $175.27, for a total value of $1,924,464.60. Following the transaction, the director now owns 40,568 shares in the company, valued at $7,110,353.36. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,757 shares of company stock valued at $3,575,202. Insiders own 0.88% of the company’s stock.
Global Payments (NYSE:GPN) last released its quarterly earnings data on Thursday, October 31st. The business services provider reported $1.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.67 by $0.03. The firm had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Global Payments had a return on equity of 9.05% and a net margin of 10.59%. The business’s revenue for the quarter was up 27.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.44 earnings per share. Research analysts anticipate that Global Payments Inc will post 5.83 earnings per share for the current fiscal year.
Several brokerages have recently commented on GPN. Robert W. Baird raised their target price on Global Payments from $188.00 to $203.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 18th. Oppenheimer raised their target price on Global Payments from $178.00 to $192.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. William Blair reaffirmed an “outperform” rating on shares of Global Payments in a research report on Thursday, October 17th. UBS Group began coverage on Global Payments in a research report on Monday, October 14th. They issued a “buy” rating and a $193.00 target price for the company. Finally, JPMorgan Chase & Co. set a $203.00 target price on Global Payments and gave the stock a “buy” rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and twenty-one have assigned a buy rating to the stock. Global Payments presently has an average rating of “Buy” and a consensus target price of $177.56.
Global Payments 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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