Tiverton Asset Management LLC Sells 3,746 Shares of Global Payments Inc (NYSE:GPN)
Tiverton Asset Management LLC lowered its position in Global Payments Inc (NYSE:GPN) by 60.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,410 shares of the business services provider’s stock after selling 3,746 shares during the period. Tiverton Asset Management LLC’s holdings in Global Payments were worth $386,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of the company. Lenox Wealth Advisors LLC acquired a new stake in Global Payments during the second quarter worth about $25,000. Next Capital Management LLC acquired a new stake in Global Payments in the 2nd quarter worth $25,000. Citizens Financial Group Inc RI bought a new position in shares of Global Payments during the 2nd quarter worth about $27,000. Cornerstone Advisors Inc. increased its holdings in shares of Global Payments by 114.9% during the 1st quarter. Cornerstone Advisors Inc. now owns 202 shares of the business services provider’s stock worth $28,000 after purchasing an additional 108 shares during the period. Finally, Berman Capital Advisors LLC raised its position in shares of Global Payments by 317.5% during the first quarter. Berman Capital Advisors LLC now owns 238 shares of the business services provider’s stock valued at $32,000 after buying an additional 181 shares during the last quarter. 97.07% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Alan M. Silberstein sold 700 shares of the stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $157.95, for a total value of $110,565.00. Following the transaction, the director now directly owns 40,163 shares of the company’s stock, valued at $6,343,745.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Guido Francesco Sacchi sold 10,450 shares of the stock in a transaction dated 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 transaction, 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. In the last three months, insiders have sold 34,410 shares of company stock worth $5,667,534. Company insiders own 0.88% of the company’s stock.
Shares of GPN traded up $0.10 during midday trading on Wednesday, reaching $165.36. The stock had a trading volume of 53,614 shares, compared to its average volume of 1,540,471. The firm has a market cap of $26.76 billion, a PE ratio of 31.84, a P/E/G ratio of 1.74 and a beta of 1.02. The firm has a 50 day simple moving average of $163.27 and a 200-day simple moving average of $151.03. Global Payments Inc has a one year low of $94.81 and a one year high of $175.95. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.20.
Global Payments (NYSE:GPN) last issued its earnings results on Tuesday, July 30th. The business services provider reported $1.51 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.46 by $0.05. Global Payments had a net margin of 13.62% and a return on equity of 20.36%. The company had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same period in the prior year, the firm earned $1.29 EPS. Global Payments’s quarterly revenue was up 13.4% compared to the same quarter last year. As a group, research analysts forecast that Global Payments Inc will post 5.82 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date is Thursday, September 12th. Global Payments’s dividend payout ratio (DPR) is presently 0.77%.
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.
Want to see what other hedge funds are holding GPN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Global Payments Inc (NYSE:GPN).
Receive News & Ratings for Global Payments Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Global Payments and related companies with MarketBeat.com's FREE daily email newsletter.