Global Payments Inc. (NYSE:GPN) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lessened its holdings in Global Payments Inc. (NYSE:GPN - Free Report) by 0.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,972,145 shares of the business services provider's stock after selling 4,450 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.80% of Global Payments worth $193,112,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Aurora Investment Counsel lifted its position in shares of Global Payments by 7.3% during the 1st quarter. Aurora Investment Counsel now owns 12,558 shares of the business services provider's stock valued at $1,230,000 after acquiring an additional 849 shares during the period. Ballentine Partners LLC acquired a new stake in shares of Global Payments during the 1st quarter valued at approximately $224,000. Cromwell Holdings LLC acquired a new stake in shares of Global Payments during the 1st quarter valued at approximately $72,000. Xponance Inc. lifted its position in shares of Global Payments by 0.6% during the 1st quarter. Xponance Inc. now owns 36,634 shares of the business services provider's stock valued at $3,587,000 after acquiring an additional 235 shares during the period. Finally, Alps Advisors Inc. lifted its position in shares of Global Payments by 11.8% during the 1st quarter. Alps Advisors Inc. now owns 9,039 shares of the business services provider's stock valued at $885,000 after acquiring an additional 951 shares during the period. Hedge funds and other institutional investors own 89.76% of the company's stock.

Analyst Ratings Changes

GPN has been the subject of several research reports. Jefferies Financial Group downgraded Global Payments from a "buy" rating to a "hold" rating and set a $75.00 price objective for the company. in a research report on Friday, April 18th. Truist Financial lifted their price objective on Global Payments from $79.00 to $83.00 and gave the stock a "hold" rating in a research report on Thursday. Cowen downgraded Global Payments from a "buy" rating to a "hold" rating in a research report on Monday, April 21st. Royal Bank Of Canada downgraded Global Payments from an "outperform" rating to a "sector perform" rating and set a $86.00 price objective for the company. in a research report on Friday, April 25th. Finally, Evercore ISI initiated coverage on Global Payments in a research report on Wednesday, April 9th. They set an "in-line" rating and a $85.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Global Payments has an average rating of "Hold" and an average target price of $111.55.

Global Payments Stock Performance

GPN traded down $1.39 on Friday, hitting $81.65. 267,235 shares of the company's stock were exchanged, compared to its average volume of 2,834,561. The firm has a market cap of $19.91 billion, a PE ratio of 13.16, a P/E/G ratio of 0.80 and a beta of 0.94. Global Payments Inc. has a twelve month low of $65.93 and a twelve month high of $120.00. The stock has a fifty day moving average of $78.65 and a two-hundred day moving average of $90.87. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.66.

Global Payments (NYSE:GPN - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The business services provider reported $2.82 earnings per share for the quarter, topping the consensus estimate of $2.73 by $0.09. The firm had revenue of $2.20 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.59 earnings per share. On average, research analysts anticipate that Global Payments Inc. will post 11.89 earnings per share for the current fiscal year.

Global Payments Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were paid a $0.25 dividend. The ex-dividend date was Friday, June 13th. This represents a $1.00 annualized dividend and a dividend yield of 1.22%. Global Payments's payout ratio is currently 16.13%.

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.