Lakeview Capital Partners LLC grew its position in Global Payments Inc (NYSE:GPN) by 345.2% in the third quarter, Holdings Channel.com reports. The fund owned 9,795 shares of the business services provider’s stock after buying an additional 7,595 shares during the period. Lakeview Capital Partners LLC’s holdings in Global Payments were worth $1,557,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Next Capital Management LLC bought a new stake in shares of Global Payments in the 2nd quarter worth approximately $25,000. Lenox Wealth Advisors LLC acquired a new position in shares of Global Payments in the 2nd quarter worth approximately $25,000. First Financial Corp IN acquired a new position in shares of Global Payments in the 3rd quarter worth approximately $27,000. Citizens Financial Group Inc RI acquired a new position in shares of Global Payments in the 2nd quarter worth approximately $27,000. Finally, Tarbox Family Office Inc. raised its holdings in shares of Global Payments by 130.7% in the 3rd quarter. Tarbox Family Office Inc. now owns 173 shares of the business services provider’s stock worth $28,000 after buying an additional 98 shares in the last quarter. Institutional investors own 97.09% of the company’s stock.
A number of brokerages have recently issued reports on GPN. Deutsche Bank increased their target price on Global Payments from $162.00 to $182.00 and gave the stock a “buy” rating in a report on Friday, July 26th. JPMorgan Chase & Co. set a $203.00 target price on Global Payments and gave the stock a “buy” rating in a report on Friday, November 1st. Wedbush increased their target price on Global Payments from $168.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. SunTrust Banks increased their target price on Global Payments from $190.00 to $210.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Finally, ValuEngine cut Global Payments from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating and twenty-one have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $177.97.
GPN stock traded up $1.27 during midday trading on Friday, reaching $170.26. 895,225 shares of the company’s stock traded hands, compared to its average volume of 1,569,924. The company has a 50-day simple moving average of $162.19 and a two-hundred day simple moving average of $159.29. Global Payments Inc has a 1-year low of $94.81 and a 1-year high of $175.95. The company has a market cap 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 quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.32.
Global Payments (NYSE:GPN) last released its quarterly earnings results on Thursday, October 31st. The business services provider reported $1.70 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.67 by $0.03. The firm had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Global Payments had a return on equity of 9.05% and a net margin of 10.59%. The business’s revenue was up 27.4% on a year-over-year basis. During the same period last year, the firm posted $1.44 EPS. Equities research analysts forecast that Global Payments Inc will post 5.83 EPS for the current year.
Global Payments Company Profile
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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