Redwood Investments buys $19,667,885 stake in Global Payments Inc (GPN)

Global Payments Inc (GPN) : Redwood Investments scooped up 10,634 additional shares in Global Payments Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 20, 2016. The investment management firm now holds a total of 268,357 shares of Global Payments Inc which is valued at $19,667,885.Global Payments Inc makes up approximately 1.93% of Redwood Investments’s portfolio.

Global Payments Inc closed down -0.98 points or -1.32% at $73.29 with 3,67,30,004 shares getting traded on Friday. Post opening the session at $74.27, the shares hit an intraday low of $72.93 and an intraday high of $74.4 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

Other Hedge Funds, Including , Carroll Financial Associates added GPN to its portfolio by purchasing 3 company shares during the most recent quarter which is valued at $220.Oakbrook Investments reduced its stake in GPN by selling 5,500 shares or 45.08% in the most recent quarter. The Hedge Fund company now holds 6,700 shares of GPN which is valued at $507,123. Global Payments Inc makes up approx 0.03% of Oakbrook Investments’s portfolio.River Mercantile Asset Management Llp reduced its stake in GPN by selling 14,570 shares or 48.68% in the most recent quarter. The Hedge Fund company now holds 15,360 shares of GPN which is valued at $1,110,374. Global Payments Inc makes up approx 0.73% of River Mercantile Asset Management Llp’s portfolio. First American Bank added GPN to its portfolio by purchasing 5,616 company shares during the most recent quarter which is valued at $405,981. Global Payments Inc makes up approx 0.04% of First American Bank’s portfolio.

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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