Coho Partners Ltd. Reduces Position in Global Payments Inc. (NYSE:GPN)

Coho Partners Ltd. cut its stake in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 25.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 423,233 shares of the business services provider's stock after selling 142,724 shares during the quarter. Global Payments comprises approximately 2.5% of Coho Partners Ltd.'s investment portfolio, making the stock its 24th biggest holding. Coho Partners Ltd. owned 0.17% of Global Payments worth $41,443,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Private Trust Co. NA lifted its position in Global Payments by 11.2% during the fourth quarter. Private Trust Co. NA now owns 992 shares of the business services provider's stock valued at $111,000 after purchasing an additional 100 shares during the period. Truvestments Capital LLC increased its stake in shares of Global Payments by 2.9% during the fourth quarter. Truvestments Capital LLC now owns 3,685 shares of the business services provider's stock worth $413,000 after purchasing an additional 103 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in Global Payments by 1.1% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 10,963 shares of the business services provider's stock valued at $1,228,000 after acquiring an additional 117 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. grew its stake in Global Payments by 0.4% during the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 33,902 shares of the business services provider's stock valued at $3,795,000 after acquiring an additional 122 shares in the last quarter. Finally, Vident Advisory LLC grew its stake in Global Payments by 1.7% during the 4th quarter. Vident Advisory LLC now owns 10,382 shares of the business services provider's stock valued at $1,163,000 after acquiring an additional 172 shares in the last quarter. 89.76% of the stock is owned by hedge funds and other institutional investors.

Global Payments Trading Up 0.7%

NYSE GPN opened at $76.69 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market cap of $18.70 billion, a PE ratio of 12.37, a P/E/G ratio of 0.73 and a beta of 0.93. Global Payments Inc. has a one year low of $65.93 and a one year high of $120.00. The firm's fifty day moving average is $77.18 and its two-hundred day moving average is $95.17.

Global Payments (NYSE:GPN - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The business services provider reported $2.82 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.73 by $0.09. Global Payments had a net margin of 15.48% and a return on equity of 12.33%. The business had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same period in the previous year, the business posted $2.59 earnings per share. The business's revenue was down .3% compared to the same quarter last year. Analysts expect that Global Payments Inc. will post 11.89 earnings per share for the current year.

Global Payments Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be paid 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 dividend yield of 1.30%. Global Payments's dividend payout ratio (DPR) is 16.13%.

Analyst Upgrades and Downgrades

GPN has been the subject of several analyst reports. TD Cowen cut shares of 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 shares of Global Payments from a "buy" rating to a "hold" rating in a research report on Monday, April 21st. Royal Bank Of Canada cut shares of Global Payments from an "outperform" rating to a "sector perform" rating and set a $86.00 price target for the company. in a research report on Friday, April 25th. Wells Fargo & Company decreased their price target on shares of Global Payments from $105.00 to $77.00 and set an "equal weight" rating for the company in a research report on Monday, April 21st. Finally, Truist Financial assumed coverage on shares of Global Payments in a research report on Monday, June 2nd. They set a "hold" rating and a $79.00 price objective for the company. One investment analyst has rated the stock with a sell rating, eighteen have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $110.91.

About Global Payments

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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