GAMMA Investing LLC grew its holdings in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 17,136.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 365,063 shares of the business services provider's stock after buying an additional 362,945 shares during the quarter. GAMMA Investing LLC owned 0.15% of Global Payments worth $35,747,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in GPN. AIA Group Ltd bought a new position in Global Payments during the 4th quarter valued at about $349,000. Oribel Capital Management LP grew its stake in Global Payments by 495.1% in the 4th quarter. Oribel Capital Management LP now owns 521,300 shares of the business services provider's stock worth $58,417,000 after acquiring an additional 433,700 shares in the last quarter. Caprock Group LLC boosted its stake in shares of Global Payments by 9.8% during the fourth quarter. Caprock Group LLC now owns 2,313 shares of the business services provider's stock valued at $259,000 after purchasing an additional 206 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Global Payments by 106.1% during the fourth quarter. Van ECK Associates Corp now owns 50,705 shares of the business services provider's stock valued at $5,682,000 after purchasing an additional 26,104 shares in the last quarter. Finally, Focused Investors LLC purchased a new stake in Global Payments during the fourth quarter valued at approximately $99,969,000. 89.76% of the stock is currently owned by hedge funds and other institutional investors.
Global Payments Trading Up 1.1%
NYSE:GPN traded up $0.86 on Friday, hitting $76.88. The stock had a trading volume of 3,055,104 shares, compared to its average volume of 2,469,348. The company has a quick ratio of 0.93, a current ratio of 0.97 and a debt-to-equity ratio of 0.66. The stock has a market cap of $18.75 billion, a price-to-earnings ratio of 12.44, a PEG ratio of 0.86 and a beta of 0.93. The company has a fifty day moving average price of $79.07 and a two-hundred day moving average price of $98.11. Global Payments Inc. has a 1-year low of $65.93 and a 1-year high of $120.00.
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 the consensus estimate 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 period in the prior year, the business posted $2.59 EPS. The business's revenue for the quarter was down .3% compared to the same quarter last year. Equities research analysts expect that Global Payments Inc. will post 11.89 earnings per share for the current fiscal year.
Global Payments Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend is Friday, June 13th. Global Payments's dividend payout ratio is presently 16.13%.
Analyst Ratings Changes
A number of research firms have issued reports on GPN. Citigroup reaffirmed a "buy" rating on shares of Global Payments in a report on Monday, April 21st. Morgan Stanley decreased their price target on shares of Global Payments from $166.00 to $163.00 and set an "overweight" rating for the company in a report on Friday, February 14th. Jefferies Financial Group cut shares of Global Payments from a "buy" rating to a "hold" rating and set a $75.00 price target for the company. in a report on Friday, April 18th. 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 report on Friday, April 25th. Finally, TD Cowen cut shares of Global Payments from a "buy" rating to a "hold" rating and set a $78.00 target price for the company. in a report on Monday, April 21st. One investment analyst has rated the stock with a sell rating, eighteen have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $110.91.
Check Out Our Latest Report on Global Payments
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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