Global Payments Inc (NYSE:GPN) Position Increased by Optimum Investment Advisors

Optimum Investment Advisors boosted its holdings in shares of Global Payments Inc (NYSE:GPN) by 296.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,168 shares of the business services provider’s stock after acquiring an additional 2,368 shares during the period. Optimum Investment Advisors’ holdings in Global Payments were worth $504,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in GPN. HighTower Advisors LLC grew its holdings in shares of Global Payments by 0.8% during the second quarter. HighTower Advisors LLC now owns 9,445 shares of the business services provider’s stock worth $1,508,000 after buying an additional 74 shares in the last quarter. Corient Capital Partners LLC grew its holdings in shares of Global Payments by 5.0% during the second quarter. Corient Capital Partners LLC now owns 1,628 shares of the business services provider’s stock worth $261,000 after buying an additional 78 shares in the last quarter. Advantage Investment Management LLC grew its holdings in shares of Global Payments by 32.4% during the third quarter. Advantage Investment Management LLC now owns 331 shares of the business services provider’s stock worth $53,000 after buying an additional 81 shares in the last quarter. Parkside Financial Bank & Trust grew its holdings in shares of Global Payments by 61.0% during the second quarter. Parkside Financial Bank & Trust now owns 235 shares of the business services provider’s stock worth $38,000 after buying an additional 89 shares in the last quarter. Finally, Advisor Partners LLC grew its holdings in shares of Global Payments by 2.8% during the second quarter. Advisor Partners LLC now owns 3,576 shares of the business services provider’s stock worth $573,000 after buying an additional 99 shares in the last quarter. Institutional investors own 97.09% of the company’s stock.

A number of equities research analysts have recently commented on the stock. Barclays lifted their price target on shares of Global Payments from $195.00 to $200.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Goldman Sachs Group reiterated a “buy” rating and set a $212.00 price target on shares of Global Payments in a report on Tuesday, September 24th. Wells Fargo & Co lifted their price target on shares of Global Payments from $185.00 to $190.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. BMO Capital Markets lifted their price target on shares of Global Payments from $162.00 to $186.00 and gave the stock a “market perform” rating in a report on Monday, November 4th. They noted that the move was a valuation call. Finally, Deutsche Bank lifted their price target on shares of Global Payments from $162.00 to $182.00 and gave the stock a “buy” rating in a report on Friday, July 26th. One analyst has rated the stock with a sell rating, five have given a hold rating and twenty-one have issued a buy rating to the stock. Global Payments currently has an average rating of “Buy” and an average price target of $177.97.

Global Payments stock traded up $1.27 during trading on Friday, reaching $170.26. The company had a trading volume of 895,225 shares, compared to its average volume of 1,569,924. The firm has a market capitalization of $26.09 billion, a price-to-earnings ratio of 32.81, a PEG ratio of 1.69 and a beta of 0.98. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.17 and a current ratio of 1.17. Global Payments Inc has a 12-month low of $94.81 and a 12-month high of $175.95. The stock’s 50 day moving average price is $162.19 and its two-hundred day moving average price is $159.29.

Global Payments (NYSE:GPN) last announced its quarterly earnings results on Thursday, October 31st. The business services provider reported $1.70 earnings per share for the quarter, beating analysts’ consensus estimates of $1.67 by $0.03. The firm had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Global Payments had a net margin of 10.59% and a return on equity of 9.05%. Global Payments’s revenue was up 27.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.44 earnings per share. As a group, research analysts expect that Global Payments Inc will post 5.83 earnings per share for the current year.

In other news, Director Alan M. Silberstein sold 700 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $156.18, for a total transaction of $109,326.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Guido Francesco Sacchi sold 10,450 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $159.44, for a total transaction of $1,666,148.00. Following the completion of the sale, the executive vice president now directly owns 47,916 shares in the company, valued at $7,639,727.04. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,287 shares of company stock worth $6,203,454. 0.88% of the stock is currently owned by corporate insiders.

About Global Payments

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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Institutional Ownership by Quarter for Global Payments (NYSE:GPN)

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