Weaver C. Barksdale Associates Lowers stake in Global Payments Inc (GPN)

Global Payments Inc (GPN) : Weaver C. Barksdale Associates reduced its stake in Global Payments Inc by 4.49% during the most recent quarter end. The investment management company now holds a total of 42,901 shares of Global Payments Inc which is valued at $3.1 Million after selling 2,016 shares in Global Payments Inc according to a report filed by the company on Apr 5, 2016 with the SEC.Global Payments Inc makes up approximately 2.34% of Weaver C. Barksdale Associates’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. Compass Point Initiated Global Payments Inc on Apr 15, 2016 to “Neutral”, Price Target of the shares are set at $70.Company shares were Reiterated by Piper Jaffray on Apr 7, 2016 to “Neutral”, Firm has raised the Price Target to $ 76 from a previous price target of $73 .Global Payments Inc was Upgraded by Sun Trust Rbsn Humphrey to ” Buy” on Jan 8, 2016.

Global Payments Inc opened for trading at $72.92 and hit $74.02 on the upside on Monday, eventually ending the session at $72.29, with a gain of 0.12% or 0.09 points. The heightened volatility saw the trading volume jump to 20,59,290 shares. Company has a market cap of $9,344 M.

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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