Global Payments Inc. (NYSE:GPN) Shares Acquired by Cardinal Capital Management Inc.

Cardinal Capital Management Inc. increased its stake in Global Payments Inc. (NYSE:GPN - Free Report) by 18.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 109,706 shares of the business services provider's stock after buying an additional 17,455 shares during the period. Cardinal Capital Management Inc.'s holdings in Global Payments were worth $10,742,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GPN. Pallas Capital Advisors LLC raised its stake in shares of Global Payments by 15.6% during the first quarter. Pallas Capital Advisors LLC now owns 6,245 shares of the business services provider's stock valued at $612,000 after acquiring an additional 843 shares in the last quarter. First Citizens Bank & Trust Co. purchased a new stake in shares of Global Payments in the 1st quarter worth $294,000. Whipplewood Advisors LLC lifted its holdings in shares of Global Payments by 5,252.4% in the 1st quarter. Whipplewood Advisors LLC now owns 17,556 shares of the business services provider's stock worth $1,719,000 after buying an additional 17,228 shares during the period. Merit Financial Group LLC grew its position in shares of Global Payments by 129.7% during the 1st quarter. Merit Financial Group LLC now owns 11,988 shares of the business services provider's stock worth $1,174,000 after buying an additional 6,769 shares in the last quarter. Finally, Paladin Wealth LLC increased its stake in shares of Global Payments by 12.9% during the first quarter. Paladin Wealth LLC now owns 5,173 shares of the business services provider's stock valued at $507,000 after buying an additional 592 shares during the period. Institutional investors own 89.76% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GPN. Barclays dropped their target price on shares of Global Payments from $125.00 to $110.00 and set an "overweight" rating on the stock in a report on Tuesday, April 15th. TD Cowen downgraded shares of Global Payments from a "buy" rating to a "hold" rating and set a $78.00 price objective on the stock. in a research note on Monday, April 21st. Keefe, Bruyette & Woods lifted their price objective on shares of Global Payments from $78.00 to $81.00 and gave the company a "market perform" rating in a report on Wednesday, May 7th. Royal Bank of Canada lowered Global Payments from an "outperform" rating to a "sector perform" rating and set a $86.00 target price for the company. in a report on Friday, April 25th. Finally, Bank of America reduced their price target on Global Payments from $156.00 to $149.00 and set a "buy" rating for the company in a research report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, eighteen have issued a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, Global Payments has a consensus rating of "Hold" and a consensus price target of $110.91.

Global Payments Stock Performance

NYSE GPN traded up $1.78 on Tuesday, reaching $80.73. 1,960,692 shares of the company's stock traded hands, compared to its average volume of 2,466,919. The stock has a 50 day moving average price of $78.65 and a 200-day moving average price of $97.59. The firm has a market cap of $19.69 billion, a price-to-earnings ratio of 13.06, a P/E/G ratio of 0.86 and a beta of 0.93. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.93 and a current ratio of 0.97. Global Payments Inc. has a fifty-two week low of $65.93 and a fifty-two week high of $120.00.

Global Payments (NYSE:GPN - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The business services provider reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.73 by $0.09. Global Payments had a return on equity of 12.21% and a net margin of 15.54%. The company had revenue of $2.20 billion during the quarter, compared to analysts' expectations of $2.20 billion. During the same period last year, the business earned $2.59 earnings per share. Global Payments's quarterly revenue was down .3% on a year-over-year basis. Equities research analysts predict that Global Payments Inc. will post 11.89 EPS for the current fiscal year.

Global Payments Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, June 13th. This represents a $1.00 dividend on an annualized basis and a yield of 1.24%. Global Payments's dividend payout ratio is currently 16.13%.

Global Payments Profile

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.