Novare Capital Management Lowers stake in Global Payments Inc (GPN)

Global Payments Inc (GPN) : Novare Capital Management reduced its stake in Global Payments Inc by 16.6% during the most recent quarter end. The investment management company now holds a total of 81,849 shares of Global Payments Inc which is valued at $6,126,398 after selling 16,294 shares in Global Payments Inc , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.Global Payments Inc makes up approximately 1.61% of Novare Capital Management’s portfolio.

Other Hedge Funds, Including , Rpg Investment Advisory boosted its stake in GPN in the latest quarter, The investment management firm added 2,070 additional shares and now holds a total of 49,491 shares of Global Payments Inc which is valued at $3,704,401. Global Payments Inc makes up approx 0.94% of Rpg Investment Advisory’s portfolio. Norinchukin Bank The added GPN to its portfolio by purchasing 8,078 company shares during the most recent quarter which is valued at $604,638. Global Payments Inc makes up approx 0.01% of Norinchukin Bank The’s portfolio. New Mexico Educational Retirement Board added GPN to its portfolio by purchasing 17,900 company shares during the most recent quarter which is valued at $1,309,564. Global Payments Inc makes up approx 0.06% of New Mexico Educational Retirement Board’s portfolio.Diligent Investors reduced its stake in GPN by selling 1,573 shares or 5.75% in the most recent quarter. The Hedge Fund company now holds 25,777 shares of GPN which is valued at $1,924,511. Global Payments Inc makes up approx 1.74% of Diligent Investors’s portfolio.

Global Payments Inc opened for trading at $73.71 and hit $74.41 on the upside on Wednesday, eventually ending the session at $74.22, with a gain of 0.94% or 0.69 points. The heightened volatility saw the trading volume jump to 10,72,362 shares. Company has a market cap of $11,402 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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