Global Payments Inc. (NYSE:GPN) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC cut its stake in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 2.8% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 129,864 shares of the business services provider's stock after selling 3,683 shares during the period. Chevy Chase Trust Holdings LLC owned approximately 0.05% of Global Payments worth $12,716,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Optiver Holding B.V. acquired a new stake in shares of Global Payments during the fourth quarter valued at about $28,000. NBC Securities Inc. acquired a new stake in Global Payments during the 1st quarter valued at approximately $30,000. Whipplewood Advisors LLC purchased a new stake in Global Payments during the 4th quarter worth approximately $37,000. Quintet Private Bank Europe S.A. purchased a new stake in Global Payments during the 4th quarter worth approximately $38,000. Finally, True Wealth Design LLC acquired a new position in shares of Global Payments in the 4th quarter valued at approximately $40,000. Hedge funds and other institutional investors own 89.76% of the company's stock.

Global Payments Stock Performance

Shares of GPN traded up $1.51 during midday trading on Monday, hitting $80.23. 2,779,629 shares of the stock traded hands, compared to its average volume of 2,507,331. The business's 50 day moving average price is $77.37 and its two-hundred day moving average price is $93.43. The firm has a market capitalization of $19.57 billion, a PE ratio of 12.94, a price-to-earnings-growth ratio of 0.75 and a beta of 0.93. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.94 and a current ratio of 0.94. 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 earnings per share for the quarter, beating the consensus estimate of $2.73 by $0.09. The firm had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.20 billion. Global Payments had a net margin of 15.48% and a return on equity of 12.33%. Global Payments's quarterly revenue was down .3% compared to the same quarter last year. During the same period last year, the firm posted $2.59 EPS. 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 disclosed a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.00 annualized dividend and a dividend yield of 1.25%. Global Payments's dividend payout ratio is presently 16.13%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on GPN. Truist Financial began coverage on Global Payments in a research note on Monday, June 2nd. They set a "hold" rating and a $79.00 target price for the company. Royal Bank Of Canada downgraded shares of Global Payments from an "outperform" rating to a "sector perform" rating and set a $86.00 price objective on the stock. in a research note on Friday, April 25th. KeyCorp boosted their target price on shares of Global Payments from $80.00 to $90.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 7th. Jefferies Financial Group cut shares of Global Payments from a "buy" rating to a "hold" rating and set a $75.00 price target on the stock. in a research report on Friday, April 18th. Finally, Evercore ISI initiated coverage on Global Payments in a report on Wednesday, April 9th. They issued an "in-line" rating and a $85.00 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 assigned a buy rating to the stock. According to MarketBeat.com, Global Payments currently has an average rating of "Hold" and a consensus target price of $110.91.

Global Payments Company 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.