Global Payments Inc (GPN) : Earnest Partners reduced its stake in Global Payments Inc by 4.68% during the most recent quarter end. The investment management company now holds a total of 2,423,995 shares of Global Payments Inc which is valued at $161,365,347 after selling 119,100 shares in Global Payments Inc , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Global Payments Inc makes up approximately 1.65% of Earnest Partners’s portfolio.
Other Hedge Funds, Including , Northwestern Mutual Investment Services sold out all of its stake in GPN during the most recent quarter. The investment firm sold 60 shares of GPN which is valued $3,994.Bronfman E.l. Rothschild reduced its stake in GPN by selling 37 shares or 0.57% in the most recent quarter. The Hedge Fund company now holds 6,447 shares of GPN which is valued at $456,512. Global Payments Inc makes up approx 0.07% of Bronfman E.l. Rothschild’s portfolio.Ibm Retirement Fund reduced its stake in GPN by selling 3,731 shares or 20.52% in the most recent quarter. The Hedge Fund company now holds 14,449 shares of GPN which is valued at $1,064,313. Global Payments Inc makes up approx 0.05% of Ibm Retirement Fund’s portfolio.
Global Payments Inc opened for trading at $69.93 and hit $70.84 on the upside on Monday, eventually ending the session at $70.71, with a gain of 1.36% or 0.95 points. The heightened volatility saw the trading volume jump to 12,35,957 shares. Company has a market cap of $10,868 M.
On the company’s financial health, Global Payments Inc reported $0.86 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Oct 5, 2016. Analyst had a consensus of $0.84. The company had revenue of $817.30 million for the quarter, compared to analysts expectations of $814.12 million. The company’s revenue was up 52.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.57 EPS.
Many Wall Street Analysts have commented on Global Payments Inc. Compass Point Upgraded Global Payments Inc on Nov 15, 2016 to ” Buy”, Price Target of the shares are set at $77.Company shares were Upgraded by Stifel on Nov 4, 2016 to ” Buy”, Firm has raised the Price Target to $ 85 from a previous price target of $76 .Company shares were Reiterated by Stifel on Oct 7, 2016 to “Hold”, Firm has raised the Price Target to $ 76 from a previous price target of $75 .
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.