Gardner Lewis Asset Management L P buys $22.7 Million stake in Global Payments Inc (GPN)

Global Payments Inc (GPN) : Gardner Lewis Asset Management L P scooped up 196,700 additional shares in Global Payments Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 306,064 shares of Global Payments Inc which is valued at $22.7 Million.Global Payments Inc makes up approximately 6.58% of Gardner Lewis Asset Management L P’s portfolio.

Other Hedge Funds, Including , Dean Investment Associates boosted its stake in GPN in the latest quarter, The investment management firm added 229 additional shares and now holds a total of 11,211 shares of Global Payments Inc which is valued at $832,305. Global Payments Inc makes up approx 0.17% of Dean Investment Associates’s portfolio.Columbia Partners L L C Investment Management reduced its stake in GPN by selling 21,844 shares or 36.65% in the most recent quarter. The Hedge Fund company now holds 37,759 shares of GPN which is valued at $2.8 Million. Global Payments Inc makes up approx 0.20% of Columbia Partners L L C Investment Management’s portfolio.Aperio Group boosted its stake in GPN in the latest quarter, The investment management firm added 8,516 additional shares and now holds a total of 29,384 shares of Global Payments Inc which is valued at $2.1 Million. Global Payments Inc makes up approx 0.02% of Aperio Group’s portfolio.

Global Payments Inc opened for trading at $74.88 and hit $75.62 on the upside on Friday, eventually ending the session at $74.95, with a gain of 1.01% or 0.75 points. The heightened volatility saw the trading volume jump to 9,02,749 shares. Company has a market cap of $11,542 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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