Global Payments Inc. (NYSE:GPN) Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN lowered its stake in shares of Global Payments Inc. (NYSE:GPN - Free Report) by 6.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 86,490 shares of the business services provider's stock after selling 6,221 shares during the quarter. OLD National Bancorp IN's holdings in Global Payments were worth $8,469,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Optiver Holding B.V. purchased a new position in shares of Global Payments during the fourth quarter worth about $28,000. NBC Securities Inc. purchased a new position in shares of Global Payments during the first quarter worth about $30,000. Whipplewood Advisors LLC purchased a new position in shares of Global Payments during the fourth quarter worth about $37,000. Quintet Private Bank Europe S.A. purchased a new position in shares of Global Payments during the fourth quarter worth about $38,000. Finally, True Wealth Design LLC purchased a new position in shares of Global Payments during the fourth quarter worth about $40,000. Hedge funds and other institutional investors own 89.76% of the company's stock.

Global Payments Trading Up 1.1%

Shares of Global Payments stock opened at $76.88 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.97 and a quick ratio of 0.93. Global Payments Inc. has a 1 year low of $65.93 and a 1 year high of $120.00. The company has a market capitalization of $18.75 billion, a P/E ratio of 12.44, a P/E/G ratio of 0.86 and a beta of 0.93. The business has a 50 day moving average price of $79.07 and a 200 day moving average price of $97.99.

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 (EPS) for the quarter, topping the consensus estimate of $2.73 by $0.09. The firm had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.20 billion. Global Payments had a return on equity of 12.21% and a net margin of 15.54%. The company's quarterly revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.59 EPS. Sell-side analysts anticipate 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 issued a $0.25 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.00 annualized dividend and a yield of 1.30%. Global Payments's dividend payout ratio (DPR) is presently 16.13%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Citigroup reissued a "buy" rating on shares of Global Payments in a report on Monday, April 21st. TD Cowen lowered Global Payments from a "buy" rating to a "hold" rating and set a $78.00 price objective on the stock. in a report on Monday, April 21st. Keefe, Bruyette & Woods lifted their price objective on Global Payments from $78.00 to $81.00 and gave the company a "market perform" rating in a report on Wednesday, May 7th. Robert W. Baird lowered their price objective on Global Payments from $145.00 to $100.00 and set an "outperform" rating on the stock in a report on Monday, April 21st. Finally, Wells Fargo & Company lowered their price objective on Global Payments from $105.00 to $77.00 and set an "equal weight" rating on the stock in a report on Monday, April 21st. One analyst has rated the stock with a sell rating, eighteen have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Global Payments presently has an average rating of "Hold" and an average price target of $110.91.

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.

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