Meridiem Capital Partners LP bought a new position in Global Payments Inc. (NYSE:GPN - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 278,677 shares of the business services provider's stock, valued at approximately $31,229,000. Global Payments accounts for about 2.7% of Meridiem Capital Partners LP's holdings, making the stock its 12th largest holding. Meridiem Capital Partners LP owned about 0.11% of Global Payments as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Optiver Holding B.V. bought a new stake in Global Payments in the fourth quarter worth approximately $28,000. Whipplewood Advisors LLC acquired a new stake in shares of Global Payments in the 4th quarter valued at $37,000. Quintet Private Bank Europe S.A. bought a new stake in Global Payments in the fourth quarter worth $38,000. Manchester Capital Management LLC boosted its holdings in Global Payments by 177.5% in the fourth quarter. Manchester Capital Management LLC now owns 469 shares of the business services provider's stock worth $53,000 after purchasing an additional 300 shares in the last quarter. Finally, Brown Brothers Harriman & Co. increased its position in Global Payments by 374.2% during the fourth quarter. Brown Brothers Harriman & Co. now owns 569 shares of the business services provider's stock worth $64,000 after buying an additional 449 shares during the last quarter. Hedge funds and other institutional investors own 89.76% of the company's stock.
Wall Street Analysts Forecast Growth
GPN has been the subject of several recent analyst reports. TD Cowen downgraded Global Payments from a "buy" rating to a "hold" rating and set a $78.00 price target for the company. in a research note on Monday, April 21st. Cowen cut Global Payments from a "buy" rating to a "hold" rating in a research report on Monday, April 21st. Citigroup reissued a "buy" rating on shares of Global Payments in a research report on Monday, April 21st. Jefferies Financial Group downgraded shares of Global Payments from a "buy" rating to a "hold" rating and set a $75.00 price objective for the company. in a report on Friday, April 18th. Finally, Evercore ISI started coverage on shares of Global Payments in a report on Wednesday, April 9th. They issued an "in-line" rating and a $85.00 target price on the stock. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Global Payments presently has a consensus rating of "Hold" and an average price target of $112.43.
Read Our Latest Analysis on GPN
Global Payments Price Performance
Shares of GPN stock traded down $0.61 during trading hours on Friday, hitting $82.37. 3,610,994 shares of the company's stock were exchanged, compared to its average volume of 2,458,158. The stock's 50-day moving average is $85.54 and its 200-day moving average is $101.88. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.97 and a quick ratio of 0.93. Global Payments Inc. has a 52 week low of $65.93 and a 52 week high of $120.00. The stock has a market cap of $20.09 billion, a price-to-earnings ratio of 13.33, a price-to-earnings-growth ratio of 0.86 and a beta of 0.96.
Global Payments (NYSE:GPN - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The business services provider reported $2.82 EPS for the quarter, topping analysts' consensus estimates of $2.73 by $0.09. Global Payments had a net margin of 15.54% and a return on equity of 12.21%. The firm had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same quarter in the prior year, the firm earned $2.59 EPS. The company's revenue was down .3% on a year-over-year basis. As a group, research analysts forecast that Global Payments Inc. will post 11.89 EPS for the current year.
Global Payments Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.21%. The ex-dividend date is Friday, June 13th. Global Payments's dividend payout ratio (DPR) is presently 16.13%.
About Global Payments
(
Free Report)
Global Payments Inc provides payment technology and software solutions for card, check, and digital-based payments in the Americas, Europe, and the Asia-Pacific. It operates through two segments, Merchant Solutions and Issuer Solutions. The Merchant Solutions segment offers authorization, settlement and funding, customer support, chargeback resolution, terminal rental, sales and deployment, payment security, and consolidated billing and reporting services.
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