Novare Capital Management Lowers stake in Global Payments Inc (GPN)

Global Payments Inc (GPN) : Novare Capital Management reduced its stake in Global Payments Inc by 14.24% during the most recent quarter end. The investment management company now holds a total of 98,143 shares of Global Payments Inc which is valued at $7.3 Million after selling 16,293 shares in Global Payments Inc , the firm said in a disclosure report filed with the SEC on May 11, 2016.Global Payments Inc makes up approximately 2.02% of Novare Capital Management’s portfolio.

Other Hedge Funds, Including , Chartwell Investment Partners boosted its stake in GPN in the latest quarter, The investment management firm added 57,138 additional shares and now holds a total of 475,969 shares of Global Payments Inc which is valued at $35.3 Million. Global Payments Inc makes up approx 0.69% of Chartwell Investment Partners’s portfolio.Utah Retirement Systems boosted its stake in GPN in the latest quarter, The investment management firm added 100 additional shares and now holds a total of 23,876 shares of Global Payments Inc which is valued at $1.8 Million. Global Payments Inc makes up approx 0.05% of Utah Retirement Systems’s portfolio. Los Angeles Capital Management Equity Research Inc sold out all of its stake in GPN during the most recent quarter. The investment firm sold 509,953 shares of GPN which is valued $37.2 Million.North Star Asset Management Inc boosted its stake in GPN in the latest quarter, The investment management firm added 54 additional shares and now holds a total of 196,723 shares of Global Payments Inc which is valued at $14.3 Million. Global Payments Inc makes up approx 1.70% of North Star Asset Management Inc’s portfolio.Swiss National Bank boosted its stake in GPN in the latest quarter, The investment management firm added 108,791 additional shares and now holds a total of 375,523 shares of Global Payments Inc which is valued at $27.4 Million. Global Payments Inc makes up approx 0.05% of Swiss National Bank’s portfolio.

Global Payments Inc opened for trading at $74.09 and hit $74.85 on the upside on Monday, eventually ending the session at $74.35, with a gain of 0.15% or 0.11 points. The heightened volatility saw the trading volume jump to 10,80,383 shares. Company has a market cap of $11,450 M.

On the company’s financial health, Global Payments Inc reported $0.70 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Apr 6, 2016. Analyst had a consensus of $0.67. The company had revenue of $497.00 million for the quarter, compared to analysts expectations of $493.56 million. The company’s revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.14 EPS.

Many Wall Street Analysts have commented on Global Payments Inc. Global Payments Inc was Resumed by Goldman to “Neutral” on Apr 26, 2016. Global Payments Inc was Initiated by Nomura to “Reduce” on Apr 20, 2016. Compass Point Initiated Global Payments Inc on Apr 15, 2016 to “Neutral”, Price Target of the shares are set at $70.

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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