Burney Co Lowers stake in Global Payments Inc (GPN)

Global Payments Inc (GPN) : Burney Co reduced its stake in Global Payments Inc by 1.29% during the most recent quarter end. The investment management company now holds a total of 297,792 shares of Global Payments Inc which is valued at $21,697,125 after selling 3,904 shares in Global Payments Inc , the firm said in a disclosure report filed with the SEC on May 2, 2016.Global Payments Inc makes up approximately 1.59% of Burney Co’s portfolio.

Global Payments Inc opened for trading at $72.11 and hit $72.87 on the upside on Friday, eventually ending the session at $72.86, with a gain of 0.76% or 0.55 points. The heightened volatility saw the trading volume jump to 14,29,416 shares. Company has a market cap of $11,221 M.

Other Hedge Funds, Including , Ifp Advisors Inc reduced its stake in GPN by selling 1,568 shares or 40.14% in the most recent quarter. The Hedge Fund company now holds 2,338 shares of GPN which is valued at $170,347. Global Payments Inc makes up approx 0.01% of Ifp Advisors Inc’s portfolio.Great West Life Assurance Co Can reduced its stake in GPN by selling 1,361 shares or 2.1% in the most recent quarter. The Hedge Fund company now holds 63,344 shares of GPN which is valued at $4,572,170. Global Payments Inc makes up approx 0.02% of Great West Life Assurance Co Can’s portfolio.Spectrum Management Group reduced its stake in GPN by selling 7,825 shares or 30.96% in the most recent quarter. The Hedge Fund company now holds 17,452 shares of GPN which is valued at $1,259,685. Global Payments Inc makes up approx 0.49% of Spectrum Management Group’s portfolio. New Century Investment Management Inc sold out all of its stake in GPN during the most recent quarter. The investment firm sold 78,000 shares of GPN which is valued $5,630,040.

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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