Artisan Partners Limited Partnership Lowers stake in Global Payments Inc (GPN)

Global Payments Inc (GPN) : Artisan Partners Limited Partnership reduced its stake in Global Payments Inc by 2.39% during the most recent quarter end. The investment management company now holds a total of 6,727,175 shares of Global Payments Inc which is valued at $502,452,701 after selling 164,848 shares in Global Payments Inc , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.Global Payments Inc makes up approximately 1.01% of Artisan Partners Limited Partnership’s portfolio.

Other Hedge Funds, Including , Public Sector Pension Investment Board boosted its stake in GPN in the latest quarter, The investment management firm added 11,769 additional shares and now holds a total of 29,100 shares of Global Payments Inc which is valued at $2,173,479. Global Payments Inc makes up approx 0.03% of Public Sector Pension Investment Board’s portfolio.Global X Management Co boosted its stake in GPN in the latest quarter, The investment management firm added 665 additional shares and now holds a total of 1,019 shares of Global Payments Inc which is valued at $76,272.Dimensional Fund Advisors Lp reduced its stake in GPN by selling 452,717 shares or 30.66% in the most recent quarter. The Hedge Fund company now holds 1,023,645 shares of GPN which is valued at $75,688,311. Global Payments Inc makes up approx 0.04% of Dimensional Fund Advisors Lp’s portfolio.Oppenheimer Co Inc reduced its stake in GPN by selling 20,288 shares or 35.04% in the most recent quarter. The Hedge Fund company now holds 37,612 shares of GPN which is valued at $2,815,258. Global Payments Inc makes up approx 0.08% of Oppenheimer Co Inc’s portfolio.Diam Ltd. reduced its stake in GPN by selling 10,166 shares or 39.18% in the most recent quarter. The Hedge Fund company now holds 15,784 shares of GPN which is valued at $1,154,757. Global Payments Inc makes up approx 0.02% of Diam Ltd.’s portfolio.

Global Payments Inc opened for trading at $75.84 and hit $76.38 on the upside on Tuesday, eventually ending the session at $76.25, with a gain of 1.10% or 0.83 points. The heightened volatility saw the trading volume jump to 10,95,956 shares. Company has a market cap of $11,714 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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