Formulafolio Investments adds Global Payments Inc (GPN) to its portfolio

Global Payments Inc (GPN) : Formulafolio Investments added new position in Global Payments Inc during the most recent quarter end. The investment management firm now holds 11,632 shares of Global Payments Inc which is valued at $870,655 , the company said in a statement filed on Aug 8, 2016 with the SEC.Global Payments Inc makes up approximately 0.15% of Formulafolio Investments’s portfolio.

Other Hedge Funds, Including , Blair William Coil boosted its stake in GPN in the latest quarter, The investment management firm added 13,302 additional shares and now holds a total of 40,215 shares of Global Payments Inc which is valued at $3,010,093. Global Payments Inc makes up approx 0.03% of Blair William Coil’s portfolio.Hussman Strategic Advisors reduced its stake in GPN by selling 125,000 shares or 55.56% in the most recent quarter. The Hedge Fund company now holds 100,000 shares of GPN which is valued at $7,316,000. Global Payments Inc makes up approx 1.08% of Hussman Strategic Advisors’s portfolio.Community Bank Trust Waco Texas boosted its stake in GPN in the latest quarter, The investment management firm added 2,393 additional shares and now holds a total of 37,838 shares of Global Payments Inc which is valued at $2,967,634. Global Payments Inc makes up approx 1.59% of Community Bank Trust Waco Texas’s portfolio.1st Global Advisors boosted its stake in GPN in the latest quarter, The investment management firm added 561 additional shares and now holds a total of 11,651 shares of Global Payments Inc which is valued at $906,564. Global Payments Inc makes up approx 0.12% of 1st Global Advisors’s portfolio.Prescott Group Capital Management L.l.c. reduced its stake in GPN by selling 34,000 shares or 62.5% in the most recent quarter. The Hedge Fund company now holds 20,400 shares of GPN which is valued at $1,587,324. Global Payments Inc makes up approx 0.37% of Prescott Group Capital Management L.l.c.’s portfolio.

Global Payments Inc opened for trading at $74.68 and hit $75.02 on the upside on Monday, eventually ending the session at $74.94, with a gain of 0.33% or 0.25 points. The heightened volatility saw the trading volume jump to 8,50,919 shares. Company has a market cap of $11,513 M.

On the company’s financial health, Global Payments Inc reported $0.73 EPS for the quarter, based on the information available during the earnings call on Jul 28, 2016. Analyst had a consensus estimate of $0.73. The company had revenue of $747.10 million for the quarter, compared to analysts expectations of $621.29 million. The company’s revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.22 EPS.

Many Wall Street Analysts have commented on Global Payments Inc. Company shares were Reiterated by Deutsche Bank on Jul 12, 2016 to “Buy”, Firm has raised the Price Target to $ 79 from a previous price target of $72 .Shares were Reiterated by Barclays on Jul 7, 2016 to “Equal Weight” and Lowered the Price Target to $ 73 from a previous price target of $78 .

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. The Company’s North America merchant services and International merchant services segments target customers in various industries including financial services gaming government healthcare professional services restaurants retail universities not-for-profit organizations and utilities. The Company performs a series of services including authorization electronic draft capture file transfers to facilitate funds settlement and certain exception-based back office support services such as chargeback and retrieval resolution.

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